BEED 1A

What is capitalism as defined by Wallerstein?

• A system of endless accumulation of capital by individuals

• A system of endless accumulation of capital by firms

• A system of endless accumulation of capital by individuals and firms

• A system of endless accumulation of capital controlled by political power

In the capitalist system, the division of labor is divided into three categories. Which is NOT one of them?

• Core

• Periphery

• Semi-periphery

• Profit

According to Wallerstein, what is one of the answers to free capitalists from the dilemma of cutting labor costs?

• Increasing workers' pay level in core zones

• Outsourcing production to peripheral states

• Reducing consumer earnings worldwide

• Relying on state aid

What is the term used for income received for farming or furniture making for one's own consumption?

• Wage-income

• Subsistence income

• Commodity production

• Rent

According to Wallerstein, which type of household should receive the higher total wage income?

• Proletarian household

• Semi-proletarian household

• Both of them

• None of them

The modern world system is a/an_____________.

• Age of information

• Age of robots and machines

• Capitalist`s system

• Age of colonialization

What are the basic components that make up the world market, according to Wallerstein?

• Producers and political power

• Markets and competing firms

• States and classes

• Households and people

According to Wallerstein, which of the following is the process happening in markets?

• Production

• Buying

• Selling

• All of the above

This income came from an employer.

• Wage-income

• Subsistence income

• Commodity production

• Rent

He created the World system theory.

• Rober Hormats

• Wallerstein

• George Bush

• Wilberst Einstein