Malinowski Study on Gifts and Other Forms of Exchange Among

question 72

Multiple Choice

Malinowski study on gifts and other forms of exchange among the Trobrianders and Boas's research on the potlatch of the Pacific Northwest,show that

• A)market exchange is not necessary in traditional cultures.
• B)there is balanced exchange present in all cultures.
• C)in all economic systems,individuals and groups exchange goods and services with others,so exchange is a cultural universal.
• D)redistribution of wealth is an important factor in every economic system.
• E)forms of exchange have existed through centuries.

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Definitions:

Cost of Merchandise Sold

The direct costs tied to producing the goods that a company sells, thus a direct reflection of the cost of inventory sold.

Gross Profit

The difference between revenue and the cost of goods sold, excluding other operating expenses and taxes.

Income from Operations

The profit earned from a company's everyday business activities, excluding income from other sources and expenses like taxes and interest.

Operating Expenses

The costs associated with the day-to-day activities of running a business, not including the cost of goods sold.