Social Institutions

According to the law of demand, if the price of a good is low,

• consumers will buy less of it

• consumers will buy more of it

• suppliers will sell less of it

• suppliers will sell more of it

In a socialist economic system, who makes the decisions about what goods are produced and what prices should be paid for them?

• the suppliers

• the consumers

• private individual citizens

• the government

Who makes the decisions about what to produce and what to buy in a capitalist economic system?

• the government

• the president

• private individual citizens

• the upper class

In America, the economic institution that is used is ________________.

• Christianity

• Direct Democracy

• Socialism

• Capitalism

If you are in a “blended family” it means that

• you have half brothers and sisters that have different mothers or fathers.

• one or more family members speak a different language than you.

• you have step brothers, step sisters and step parents

• you have brothers and sisters that have a different ethnicity to you.

____________________ refers to whether or not those who have power are viewed as having the right to govern others.

• Legitimacy

• Charisma

• Social mobility

• Authority

In a capitalist economic system, the prices that people pay for goods and services are determined by _________________.

• the laws of supply and demand

• private individual citizens

• the stock market

• the government

According to the law of supply, ________________ will make more of a good or service if the price people are willing to pay for it is high.

• demanders

• producers

• consumers

• the government

Which social institution is described below:

-describes the system of roles and norms that control the distribution and exercise of power in society.

-democracies, monarchies, and totalitarian systems are examples of this

• Family

• Government/Political Institution

• Education

• Religion

Which social institution is described below:

-a group of people who live together or are economicqally dependant on one another and related.

-blended families, marriage, voluntary childlessness are all concepts associated with it.

• Political Institution

• Family

• Education

• Religion