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21 Cards in this Set

  • Front
  • Back
economy
way an institution produces and exchanges value; a system of distribution of goods and services
hunting and gathering
group dependent of hunting and gathering for survival
horticultural
society based on cultivating plants by use of hand tools
pastoral
society based on pasturing animals
agricultural
<1900, natural resources; dependent on plows drawn by animals
industrial
1900-1950, manufacturing, based on harnessing of machines
post-industrial
>1950s, technology, globalization, services/information/technology
capitalism
minimal government intervention in economy
market competition
main feature of capitalism; what achieved based on ability to compete
socialism
total government regulation of economy
democratic socialism
combination; government intervenes on critical issues
class
people with a similar position in economy
SES
socio-economic status
income
money earned from work; money generated
wealth
value of things you own (property and investments)
poverty
correlation between family size and income
social stratification
layers of clases; rankings of classes
social mobility
movement upwards or downwards in social stratification system
intergenerational mobility
changes that family members make in social class from one generation to the next
structural mobility
movement up or down social class ladder due to changes in the structure of society
exchange mobility
individual circulation in social stratification system; about same numbers of people moving up and down the social class ladder such that on balance social class system shows little change