Anthropologists Use the Term Society to Refer to Customs and Traditions

question 28

True/False

Anthropologists use the term society to refer to customs and traditions passed from generation to generation through learning.

Grasp the concept of the circular flow model and the roles of households and businesses within it.

Recognize the impact of output quantity focus on product quality and costs in centrally planned economies.

Understand the response mechanisms to surplus and shortage in different economic systems.

Identify and explain the main components and benefits of the market system, including the concept of the invisible hand.

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Definitions:

Commander-in-Chief

The title given to the person who holds supreme command over the armed forces of a nation; in the United States, this position is held by the President.

Armed Forces

The military forces of a country, including the army, navy, air force, and sometimes others, responsible for defense and security.

IMF

The International Monetary Fund, an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, and reduce poverty around the world.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.