Economic Organisations

The economy is an essential institution, which addresses problems regarding the limited resources of the society.

• True

• False

Partnership enables the entrepreneur to handle half the burden that a sole proprietor would have to carry.

• True

• False

Members of cooperative organizations are allowed to sell their shares.

• True

• False

Reciprocity occurs in both market and non-market economies, where goods and services are given away, purchased, sold or traded for economic and social gain.

• False
• True

Which of the following is an example of general reciprocity?

• Unselfish sharing where one offers something without the expectation of immediate return.

• Gift giving at a birthday party where you give gifts in return for the meal and social interaction.

• Cheating, manipulation, and hard bargaining where one side loses in the exchange.

• None of the choices

It refers to the theory, policy or practice of lessening or reducing inequalities in income.

A Cooperative Organization is similar with Joint Stock Company in a way that the capital is supplied by a large number of persons who receive interest on other shares.

• True

• False

It refers to the mutual exchange of services or good among social peers.

Which of the following is an example of negative reciprocity?

• Unselfish sharing where one offers something without the expectation of immediate return.

• Gift giving at a birthday party where you give gifts in return for the meal and social interaction.

• Cheating, manipulation, and hard bargaining where one side loses in the exchange.

• None of the choices

Balanced reciprocity is a relationship in which a person receives a reward for giving.

• True

• False