Question

Define economy as a social institution. What is the mode of economy in the United States. Define and give examples of cultural imperialism, transnational corporations, oligopoly, shared monopoly, dual labor market, and occupational sex-segregation. Does the United states have a dual labor market?

Answer 1

step 1

Economy  is backbone of society.Economy is most crucial social Institution multifarious develoment.it is mainly contribute in production and distribution of goods which is utmost necesary for each human being.people sometimes is owner of their own Economic development and production but while rely on other , they needs to exchange like currency , goods etc.

cultural imperilism:

It means create unequal relarionship among civilization .it is support to more powerful civilization rather than poor people .culture imperalism is practice to imposing own culture of a political powerful nation over less powerful nation .For example, The most powerful nation chaina may be imposed own culture to the less and poor country Bangladesh .

Transnational corporation:

It is also known as multination corporation.it is corporation that is home base but registered , operate , and has assest and other facilities in at least one another country at one time.tranational corporation is global wise through it is start in home Environment.it is very loyal and avoid high tarrific involved in importing when they set up in forgien countries .

Oligopoly:

Oligopoly is market where small amount producer and seller is involved and have limited compitiion. For example , two or more than three firm involved to sell and produce the product of rice .

shared monpoly:.

it is reffred to anticompitive behaiour by firms in order to secure monopply profits for the firm's as a group . Essentially shared monopoly requires some form of collusion but stops short of being a formal cartel.

DUAL LABOUR:

This theory aims to introducing a broder range of factor into economic research such as instiInstitutional aspect , race and gender .it devides economy into two parts primary and secondary or formal or informal.

In formal group comes those people who are Goverment employee, business man , and doing white collar job but in informal group , people are belong from poor economy and miniority group.