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30 Cards in this Set
- Front
- Back
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work
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carrying out tasks that require the expenditure of mental and physical effort
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occupation
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work that is done in exchange for money
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economy
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institutions that proved for the production and distribution of goods and services
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informal economy
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transactions outside the sphere of regular employment
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division of labor
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work divided into an enormous number of different occupations in which people specialize
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economic interdependence
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individs depend on others to produce man or most of the goods they need to sustain their lives
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taylorism
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system of production designed to maximize industrial imput
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fordism
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system of mass production tried to the cultivation of mass markets
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alienation
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feelings of estrangement and hostility
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low trust systems
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jobs set by management and are geared to machines
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high trust system
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workers are permitted to control the pace and even content of work
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strikes
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temporary stoppage of work by a group of employees to express a grievance or enforce a demand
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union density
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represents the number of union members as a percentage of the number of people who could potentially be union members
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capitalism
(4 points) |
-private ownership of the means of production
-profit as incentive -use cheap labor -resteless expansion and investment to accumulate capital |
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corporation
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business firms or companies
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entrepreneur
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boss who owns and runs the firm
*ownership is seperated from control |
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monopoly
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one firm occupies a commanding position in a given industry
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oligopoly
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firms are able to dictate the terms on which they buy goods and services from the smaller firms that are their suppliers
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family capitalism
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large firms run by individual entreprenuers or members of same family and passed down
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managerial capitalism
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managers have influence- relacement of family in the company
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welfare capitalism
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practice that sought to make the corporation the primary shelter from uncertainties of the market
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institutional capitalism
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consolidated network of business leadership concerned with decision making within single firms but also with the development of corporate power beynond them
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transnational
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companies operate across many different national boundaries
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international division of labor
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specialization in producing goods from the world market that divides regions into zones of industrial or agricultural production or high-or-low skilled labor
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automation
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programmable machinery
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post fordism
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new era of capitalist economic production in which flexibility and innovation are maximized to meet market demands for diverse, customized products
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global outsourcing
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sending production of materials of factories around the world
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flexible production
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comapnies that design and sell products seldom make them in their own factories
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knowledge economy
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exonomy in which ideas, info, and forms of knowledge underpin innovation econimic growth
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the portfolio worker
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worker who possesses a diversity of skills or qualifications and is able to move easily from job to job
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