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15 Cards in this Set
- Front
- Back
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What is an economic system? |
The social and cultural systems that deal in the provision of goods and services to meet human wants and needs
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3 Elements of an economic system |
Production, Exchange/Distribution, Consumption |
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Reciprocal Exchange: |
Transfer of goods or services between two people based on role obligations. Every society has this |
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Redistribution |
Collecting money or goods for redistributing them in times of need |
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Market Exhange |
Transfer of goods and services based on price, supply and demand |
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Global Capitalism |
The system in which we participate where some people are wealthy and some are not |
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International Development |
Increasing the standard of living or technology in an underdeveloped country |
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Why study gift exchange? |
Provides a window into social relationships |
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What counts as a gift? |
Any object given to a person to create, maintain or reaffrim a social relationship |
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Principle of Reciprocity |
Giving a gift creates a social tie with the recipient and the person is eventually obliged to reciprocate |
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Central Paradox of gift exchange |
Giving a gift may feel voluntary and spontaneous but they are actually obligatory according to the principle of reciprocity |
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Balanced Reciprocity |
Items are exchanged more or less immediately and they are of more or less equal value (Christmas gifts) |
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Generalized Reciprocity |
A gift is given when the person happens to have it and the recipient is expected to eventually reciprocate |
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Caplow's rules for Christmas gift exchange |
The gift selection rule The wrapping rule The reciprocity rule |
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Appropriation |
Adopting another culture's customs to our own |
