Priority List - Group 07 - Economics
Exploring Economic Perspectives
Welcome to the "Exploring Economic Perspectives" quiz, where we delve into the intricate relationships between economics and society. This quiz consists of 10 thought-provoking questions that challenge your understanding of various economic concepts.
Test your knowledge on topics such as:
- Material living standards
- Economic organization
- The relationship between consumption and happiness
- Market systems vs socialist systems
- Economic inequality
I. Material Living Standards of a Society -- a. Should material consumption in a society be discouraged beyond a point? ; b. If so, by what means should this be done?
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II. Economic Significance of how Society is organized—its internal relations of hierarchy, authority and obligations (tribe, clan, family, business firms, agricultural farms)
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III. The Assumption of Scarcity --- a. The idea of “non-satiation” of human wants; b. Implication of this assumption for analysing motivation for economic behaviour
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IV. The Relationship between material consumption and “happiness”
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V. The Market System—For and Against
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VI. The Socialist System of Economic Organization—For and Against
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VII. Community based Economic System—For and Against
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VIII. The Modern Economics Conception of Economic Efficiency
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IX. Market Economy vis-à-vis Market Society
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X. Economic Inequality— a. Why does it emerge in a society? ; b. How much inequality should be tolerated?
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