Question 1

The goal of capitalism is ______.

Accepted Answer

The primary goal of capitalism is to generate profit and create wealth. This is done through private ownership of assets and resources, with the aim of maximizing profits and minimizing costs. While other ideals may be associated with capitalism, such as democracy and free markets, these are not the primary goals of the economic system.

Question 2

Global social structure, culture and social institutions are all parts of the ______.

Accepted Answer

World society encompasses the interconnectedness of global social structure, culture, and social institutions on a global level. The other options are not as comprehensive and do not include all three aspects mentioned.

Question 3

According to Karl Marx, globalization is

Accepted Answer

Karl Marx believed that globalization is the inevitable climax of capitalism because it leads to the concentration of wealth and power into the hands of a few global elites. This, in turn, creates an exploitative system where workers around the world are exploited for their cheap labor, and corporations can easily move their operations to countries with less regulation and lower labor costs. Marx saw globalization as a symptom of the inherent contradictions of capitalism and believed that it would eventually lead to its downfall.

Question 4

Which of the following is not a characteristic of capitalism?

Accepted Answer

The greatest good for the most people is not a characteristic of capitalism. Capitalism focuses on profit maximization for individuals and businesses, rather than ensuring the greatest good for society as a whole.

Question 5

The author who referred to globalization as the world becoming "flat" is ______.

Accepted Answer

Thomas Friedman referred to globalization as the world becoming "flat" in his book "The World is Flat: A Brief History of the Twenty-First Century."

Question 6

Capitalism first developed in ______.

Accepted Answer

Capitalism first emerged in Western Europe during the transition from feudalism to a mercantile economy in the 16th century.

Question 7

In the 1960s, when U.S.corporations first considered the possibility of producing goods overseas,

Accepted Answer

The answer of In the 1960s, when U.S.corporations first considered...

Question 8

In China, the economic system is

Accepted Answer

The economic system in China is controlled by the government elite, with significant state ownership and intervention in key sectors such as banking, energy, and telecommunications. While there has been some liberalization and growth of private business, the government's role remains dominant in the economy. Therefore, choice B is the best answer.

Question 9

In an unregulated global economy,

Accepted Answer

In an unregulated global economy, labor costs are often the main consideration for companies, so work tends to go to those who are paid the least. This often means that poor working conditions and a lack of benefits become the norm. As a result, people may migrate between countries to find better job opportunities elsewhere. All of these factors are interconnected and contribute to the negative repercussions of an unregulated global economy.

Question 10

From a sociological perspective

Accepted Answer

Democracy refers to a political system where power is distributed among the people through voting, while capitalism refers to an economic system where the means of production are privately owned and operated for profit. While democracy can exist within a capitalist system, the two are distinct and separate concepts.

Question 11

When sociologists look at globalization

Accepted Answer

There is considerable debate among sociologists about what globalization is and what it will create. Some argue that it is a major revolution in the way people live, while others are more critical and see negative consequences as well. Many also disagree about whether the world becoming "flat" (i.e. more interconnected and equal) is a good thing, with differing views on the impact it will have on social and economic inequality. Thus, choice D is the best answer.

Question 12

Friedman's concept of a "flat" world means that

Accepted Answer

Friedman's concept of a "flat" world refers to the idea that economic and informational competition is open globally due to advances in technology and communication. It does not refer to the issues of global warming or environmental crisis.

Question 13

The economic system of the economy under globalization will be ______.

Accepted Answer

The economic system of the economy under globalization is predominantly capitalist, with market forces driving the allocation of resources and production decisions. While some socialist and communist elements may exist in certain countries, the overall trend under globalization has been towards opening up markets and promoting free trade, which is a hallmark of capitalism. Agricultural systems may also exist within this broader economic framework, but they would be a subset of the overall capitalist system.

Question 14

The benefits of the global system

Accepted Answer

The benefits of the global system often accumulate among the rich and highly educated, as they are in a better position to leverage the opportunities provided by globalization, such as access to new markets, technologies, and investments. This can lead to increased inequality, as those with less wealth or education may not benefit equally.

Question 15

In a laissez-faire system of capitalism what is the role of the government?

Accepted Answer

In a laissez-faire system of capitalism, the government's role is limited to providing legal and military security in which businesses can operate. The government intervention in areas such as protecting worker's rights or enforcing minimum wage regulations goes against the idea of a free market where businesses and individuals are allowed to operate without interference. Protecting vulnerable workers, women, and children may fall under the government's responsibility but it may not be directly related to capitalism or laissez-faire principles.

Question 16

The most powerful people in the world economic system

Accepted Answer

The United States, the United Kingdom, and the European Union are considered the most influential players in the world economic system, with many of the top multinational corporations based in their countries.

Question 17

"Free capital" refers to

Accepted Answer

"Free capital" refers to the flow of money or investments without any restrictions or barriers, encouraging investment all over the world. This promotes economic growth and development in various countries.

Question 18

What is the relationship between democracy and capitalism?

Accepted Answer

Capitalism can encourage a democratic system by promoting individual freedoms, a market economy that allows for competition and innovation, and the ability for individuals to accumulate wealth and invest in their communities. However, capitalism can also discourage a democratic system if it leads to extreme wealth inequality, corporate power over government decisions, and limited access to resources and opportunities for marginalized groups. Therefore, the relationship between democracy and capitalism is complex and can vary depending on the specific context and implementation of both systems.

Question 19

According to Thomas Friedman, which event was a critical step in opening up communication among nations long separated?

Accepted Answer

The fall of the Berlin Wall in 1989 was a critical step in opening up communication among nations long separated, as it marked the beginning of the end of the Cold War and the division between East and West.

Question 20

In a pure capitalist system what determines the price of goods and services?

Accepted Answer

In a pure capitalist system, the price of goods and services is determined by the forces of supply and demand. This means that prices will fluctuate based on how many people want a particular good or service and how much of that good or service is available. As demand goes up, prices will go up, and as supply goes up, prices will go down. The government, the actual cost of production, and the International Monetary Fund do not play a direct role in determining prices in a pure capitalist system.

Quiz 10: Is the World Becoming One Society: Globalization and the Creation of a World Society