The Kula Ring of the Trobriand Islanders Is an Example

question 30

Multiple Choice

The Kula Ring of the Trobriand Islanders is an example of:

• A) generalized reciprocity.
• B) balanced reciprocity.
• C) negative reciprocity.
• D) redistribution.
• E) market exchange.

---

Definitions:

Demanded Design

A design approach or product feature specifically requested or sought after by consumers or the market.

Consumer Surplus

The variance between the amount consumers are ready to spend on a good or service and the actual amount they pay.

Efficiency

The degree to which resources are used effectively and waste is minimized, often aiming at maximizing output from given inputs.

Highest-value Bidder

The participant in an auction willing to pay the most for the item up for bid.