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29 Cards in this Set

  • Front
  • Back
What are economies?
Social institutions that organize the production, distribution and consumption of goods and services.
What are the reasons for expansion of economy?
- Agricultural technology
- Productive specialization
- Division of labor
- Permanent settlements and trade
What are the three key changes of the post-industrial era?
1) from tangible (greifbar) products to ideas
2) from mechanical skills to literacy skills
3) decentralization of work away from factories
What are the sectors of economy?
Primary sector
Secondary sector
Tertiary sector
What is the primary sector?
It generates raw materials directly from the natural environment.
e.g. agriculture, hunting, fishing, forestry, mining
What is the secondary sector?
Transforms raw materials into manufactured goods.
e.g. factories
What is the tertiary sector?
Generates services rather than goods.
e.g. secretaries
World is predominantly capitalist - what does that mean?
An economic system in which resources and the means of producing goods and services are privately owned.
What is liberal capitalism?
Free market, facilitative state and a legal framework which helps maintain capitalism.
What is organized capitalism?
An administered market and a more directive state.
What is disorganized / post-Fordist capitalism?
It involves an increase in the service sector, more global and dispersed operations and a decline of nation-states.
What is fordism?
An economic system based on mass-assembly-line production, mass consumption and standardized commodities.

Der Fordismus basiert auf stark standardisierter Massenproduktion und -konsumtion von Konsumgütern. (20er)
What is post-fordism?
New economics system based on flexibility, specialization and tailor-made goods.

Im Gegensatz zum Fordistischen Modell zeichnet sich der Postfordismus durch ein hohes Maß an Flexibilität in den Bereichen Arbeitsorganisation, Arbeitsgruppen und Aufgabenintegration aus.
What is democratic socialism?
An economic and political system that combines significant government control of the economy with free elections.
Extensive government regulations on industry
What is state capitalism?
An economic and political system in which companies are privately owned although they cooperate closely with the government.(Japan, South Korea, Singapore)
What is a primary labor market?
Occupations that prove extensive benefits for workers (careers).
e.g. high income, personally challenging
What is secondary labor market?
Jobs providing minimal benefits to workers.
What does "occupational gender segregation" mean?
Works to concentrate men and women in different types of job.
What is self-employment?
Earning a living without working for a large organization.
Explain underground economy:
Economic activity generating income that is unreported to the government as required by law. (much of it is attributable to criminal activity)
What are trade unions?
Organizations of workers collectively seeking to improve wages (Gehälter) and working conditions through various strategies, including negotiations and strikes.
What are conglomerates?
Giant corporations composed of many smaller corporations. The capitalist model assumes that businesses operate independently in a competitive market.
What is monopoly?
The domination of a market by a few producers.
(banned by law)
e.g. GiIlette
What is oligopoly?
The domination of a market by a few producers.
What is disneyisation?
The process by which the principle of the Disney theme parks are coming to dominate more and more sectors of American society as well as the rest of the world.
What is theming?
Putting the sales object into a story line to which it is not necessarily related. (theming a hotel into Las Vegas)
What is hybrid consumption?
In which one type of shopping becomes linked in with another very different kind. (airport is now also a shopping mall)
What does merchandising?
The promotion and sale of goods which bear copyrighted images and logos.
What is performative or emotional labor?
The frontline service industry is seen less as a job and more as a performance.