Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
Economic System
|
An organized arrangement for producing, distributing, and consuming goods.
|
|
|
Technology
|
Tools and other material equipment, together with the knowledge of how to make and use them.
|
|
|
Reciprocity
|
The exchange of goods and services, of approximately equal value, between two parties.
|
|
|
Generalized Reciprocity
|
A mode of exchange in which the value of what is given is not calculated, nor is the time of repayment specified.
|
|
|
Balanced Reciprocity
|
A mode of exchange in which the giving and the receiving are specific as to the value of the goods and the time of their delivery.
|
|
|
Negative Reciprocity
|
A form of exchange in which the aim is to get something for as little as possible. Neither fair nor balanced, it may involve hard bargaining, manipulation, and outright cheating.
|
|
|
Silent Trade
|
A form of product exchange in which mutually distrusting ethnic groups avoid direct personal contact.
|
|
|
Kula Ring
|
A form of balanced reciprocity that reinforces trade relations among the seafaring Trobriand Islanders and other Melanesians.
|
|
|
Redistribution
|
A form of exchange in which goods flow into a central place, where they are sorted, counted, and reallocated.
|
|
|
Conspicuous Consumption
|
A showy display of wealth for social prestige.
|
|
|
Potlatch
|
On the northwest coast of North America, a ceremonial event in which a village chief publicly gives away stockpiled food and other goods that signify wealth.
|
|
|
Prestige Economy
|
Creation of a surplus for the express purpose of gaining prestige through a public display of wealth that is given away as gifts.
|
|
|
Leveling Mechanism
|
A cultural obligation compelling prosperous members of a community to give away goods, host public feasts, provide free service, or otherwise demonstrate generosity so that no one permanently accumulates significantly more wealth than anyone else.
|
|
|
Market Exchange
|
The buying and selling of goods and services, with prices set by rules of supply and demand.
|
|
|
Money
|
Something used to make payments for other goods and services as well as to measure their value.
|
|
|
Informal Economy
|
A network of producing and circulating marketable commodities, labor, and services that for various reasons escapes government control.
|
