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9 Cards in this Set
- Front
- Back
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What is an INSTITUTION
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A set of norms surrounding the carrying out of a function necessary for the survival of society.
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Define ECONOMY
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The institution that provides for the production and distribution of goods and services which people in every society need.
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Macrosociology
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Analysis of large scale social forces, such as institutions.
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Microsociology
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Study of social interaction. focus, on face to face interaction, focused on idividuals rather than groups.
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List the 2 dominant Economic systems.
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Capitalism
Socialism |
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What is Capitalism?
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Resources and means of production privately owned, citizens seek profit for them selves, success dependent on free-market competition.
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What is Socialism?
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Resources and means of production owned by society as a whole.
Rights to provate property limited. Good of whole society strressed over idividual profit. Government maintaims comtrol of economy. |
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Welfare Capitalism
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Market based economy
Extensive socil welfare system Free healthcare and education for all. |
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State Capitalism
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Resources and meansof production privately owned
Closedly monitored & regulated by govenment. |
