American Sociologists Roger Finke, Rodney Stark and Willams S. Bainbridge have attempted to develop a more comprehensive sociological perspective on religion. Their approach has heavily been influenced by the exchange theory that is based on the principle that all human interactions can be treated as a form of exchange.

Stark and Bainbridge with their religious economy approach argue that religions can be understood as organizations which are in competition with one another for followers. On the other hand, the classical theorists, Marx, Durkheim and Weber, assume that religion weakens when it is challenged by different religious or secular viewpoints whereas the religious economists argue that competition increases the overall level of religious involvement in modern society.

Their explanation on religion consists of a number of insights into religious organizations, institutions and religious change. Unlike Durkheim, Stark and Bainbridge see religion as meeting the needs of individuals rather than those of society as a whole. Unlike Marx, they see religion as meeting universal human needs rather than those which stem from class inequality and exploitation. Furthermore, they reject the view, shared by classic sociologists of religion that the development of industrial capitalist societies would undermine religion.

Stark and Bainbridge with their religious economy approach argue that religions can be understood as organizations which are in competition with one another for followers. On the other hand, the classical theorists, Marx, Durkheim and Weber, assume that religion weakens when it is challenged by different religious or secular viewpoints whereas the religious economists argue that competition increases the overall level of religious involvement in modern society.

As also understood from the information given, the correct answer is D. The statement in the option V is related to the approach of classical theorists.