Work and the Economy Quiz Flashcards

Questions and Answers

Which of the following statements about Occupy Wall Street would most align with Jin's sociological perspective?

Occupy Wall Street supports the existing economic system.

Occupy Wall Street is about job creation in a capitalist economy.

Occupy Wall Street is positive; our capitalist economy is only making social inequality grow larger. (correct)

Occupy Wall Street has no impact on social inequality.

What is one reason unemployment statistics are unreliable?

The statistics include only those who are currently looking for work.

What kind of economy is Alex living in?

Market Socialist

During what time period did economies begin to develop globally?

The Agricultural Revolution Signup and view all the answers

Davis is engaging in what activity when he offers to trade his acoustic guitar for his friend Bill's electric guitar?

Bartering Signup and view all the answers

Which of the following is an example of convergence theory in action?

Germany rebuilt its economy after World War II, creating more job opportunities and prosperity for its citizens. Signup and view all the answers

How did Émile Durkheim describe mechanical solidarity?

A form of social cohesion that comes from sharing similar work, education, and religion. Signup and view all the answers

What are Terrence and his family engaging in by farming only enough food to feed themselves and pay their taxes?

Subsistence Farming Signup and view all the answers

What does the term xenophobia mean?

An illogical fear and even hatred of foreigners and foreign goods. Signup and view all the answers

What is Keshawn's experience an example of?

Outsourcing Signup and view all the answers

Which industry is not projected to experience growth in the United States within the next 10 years?

Farming, Fishing, and Forestry Signup and view all the answers

What is the example of a global assembly line represented by Apple computers?

Apple computers ship their computer parts to India to be made, and station their tech support in India. Signup and view all the answers

Which of the following best defines the term commodity?

A physical object we find, grow, or make to meet our needs and those of others. Signup and view all the answers

What is an example of polarization?

The job market is increasing in the lowest economic levels and is increasing in the highest economic levels. Signup and view all the answers

What was the economic condition America faced by 2009 after several quarters of decline?

Recession Signup and view all the answers

Which of the following is an example of structural unemployment?

Though many companies are hiring in Washington D.C., unemployment is high in Tennessee. Signup and view all the answers

What was the significance of NAFTA?

It allowed freer trade opportunities for the United States, Canada, and Mexico. Signup and view all the answers

What does globalization refer to?

The process of integrating governments, cultures, and financial markets through international trade into a single world market. Signup and view all the answers

Which of the following is not an example of underemployment?

After his wife gave birth to twins, Jerry quit his job to help raise them. Signup and view all the answers

Study Notes

Occupy Wall Street and Conflict Theory

Jin’s perspective highlights that the capitalist economy exacerbates social inequality, as demonstrated by movements like Occupy Wall Street.

Unemployment Statistics

Unemployment data is often misleading because it only accounts for individuals actively seeking employment, excluding those who have stopped looking.

Market Socialist Economy

Alex's country represents a market socialist economy, merging limited private ownership with market-driven production and pricing.

Global Economic Development

The Agricultural Revolution marked the beginning of global economic development, transforming societal structures and economies.

Bartering

Davis engages in bartering, trading his acoustic guitar for an electric guitar, a direct exchange of goods without monetary transaction.

Convergence Theory

Germany's post-WWII economic recovery exemplifies convergence theory, illustrating how nations can evolve towards similar economic structures and opportunities.

Mechanical Solidarity

Émile Durkheim’s concept of mechanical solidarity is characterized by social cohesion founded on shared work, education, and religious beliefs typical in simpler societies.

Subsistence Farming

Terrence’s family participates in subsistence farming, producing just enough food for their needs and fulfilling tax obligations.

Xenophobia

Defined as an irrational fear and often hostility towards foreigners and foreign products, xenophobia can impact social dynamics and trade.

Outsourcing

Keshawn's job loss due to his company's choice to employ workers in New Delhi serves as an example of outsourcing, affecting local job markets.

Industries Facing Decline

Projections indicate that the farming, fishing, and forestry sectors will not see growth in the U.S. over the next decade.

Global Assembly Line

Apple’s practice of shipping computer parts to India for assembly exemplifies a global assembly line, optimizing production across borders.

Commodity Definition

A commodity is any tangible item produced or gathered to satisfy needs and wants, applicable to both individual and societal contexts.

Economic Polarization

The job market's growth at both the lowest and highest economic levels illustrates economic polarization, highlighting disparities in employment opportunities.

Economic Recession

By 2009, the U.S. experienced several consecutive quarters of decline, indicating the country was in a recession, marked by widespread economic slowdown.

Structural Unemployment

High unemployment in Tennessee, despite hiring opportunities in Washington D.C., demonstrates structural unemployment linked to geographical and skill mismatches.

Significance of NAFTA

NAFTA facilitated increased trade relations among the U.S., Canada, and Mexico, significantly influencing economic exchanges in North America.

Globalization

Globalization refers to the integration of governments, cultures, and financial markets into a unified global market through international trade.

Underemployment Clarification

Not all scenarios of reduced work engagement, such as Jerry prioritizing family after childbirth, constitute underemployment, which typically refers to skills mismatches or inadequate work.

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Description

Test your understanding of sociological perspectives on work and the economy with this quiz. Explore concepts like social inequality through examples like Occupy Wall Street, and delve into the nuances of unemployment statistics. Perfect for students studying sociology and economics.