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  • The Social Exchange Theory

    To evaluate my friendship with Jeremy, I have chosen the Social Exchange Theory to represent our situation. The authors of the Social Exchange Theory are Kelley and Thibaut. The premise of the Social Exchange Theory, is that we as people, “like relationships with persons who are rewarding and avoid those that are unreasonably costly; people evaluate their relationships with others in terms of the outcome” (Lee, 2016). According to Heath & Bryant (2000), “Social exchange theory features a process that is analogous to monetary exchange” (229). Basically, if one person gives someone something, they expect an equal and fair trade in return for the amount given. When I first met Jeremy, the rewards definitely outweighed the costs. He was socially awkward with a tendency to be needy but he was also funny and different, which I liked. Later in our friendship, this cost v. reward ratio shifted, it was more costly to remain in the friendship and the costs outweighed the rewards. As I stated previously, Jeremy and I were inseparable for years,…

    Words: 1630 - Pages: 7
  • History Of The Columbian Exchange

    The Columbian Exchange acknowledges that one of the most significant events in history started in 1492 with the discovery of new western lands. The Columbian Exchange consisted of cultural and market trades of goods and people. The trades consisted of many items but most importantly the trade of livestock and crops between America and European countries became the largest advancement towards modern day society. America has gained more knowledge, now having access to farming, they took advantage…

    Words: 878 - Pages: 4
  • Social Exchange Theory And Rewards

    are involved between interpersonal relationships it is crucial to study the Social Exchange Theory. “Social Exchange Theory (SET) is based on the notion that people think about their relationships in economic terms.” (West, Turner p. 165). The fundamental elements of SET rely on a balance of rewards and costs. Costs are defined as the components of a relationship that have a negative value on an individual. Rewards, on the other hand, are the positive elements of a relationship. The theory…

    Words: 1291 - Pages: 6
  • Exchange Theory In Romantic Relationship

    Son Ho SOCO 101 Exchange Theory in Romantic Relationship Exchange theory is the sociological theory that views problem between two parties from the perspective of choices made on the basis of rewards and costs. This social exchange framework is useful for understanding romantic relationships within a relational context, and helps me to have a better understanding about relationships just by focusing on the give-and-take between the two partners. The basis of the social exchange theory as…

    Words: 706 - Pages: 3
  • The Importance Of Exchange Rates

    Exchange Rates The exchange rate is “the price of a currency in terms of another, e.g. how many U.S. dollars can be bought for one pound sterling” (Rutherford 140). Exchange rate ensures the connection of the national currency with other currencies, as well as a comparison of macroeconomic indicators of different countries. Ultimately, the exchange rate determines the purchasing power of a particular currency. The exchange rate has a significant effect on the country's foreign trade since the…

    Words: 987 - Pages: 4
  • Essay On Mineral-Fluid Exchange

    proposed mechanism responsible for the mineral-fluid exchange in each reactor, quantify the rate of exchange and evaluate the impact of short-term exchange on geochemical proxies. Foraminiferal calcite is the foundation of many proxy-based reconstruction. Hence, understanding the mechanism of exchange and determination of rate of mineral-fluid exchange in foraminiferal calcite are critical for accurate estimation of the extent of post-formational alterations on carbonate-based proxies. The…

    Words: 880 - Pages: 4
  • The Social Exchange Theory In Interpersonal Communication

    really stands out to me is the Social Exchange Theory (SET). This is ‘one the most influential conceptual paradigms in organizational behavior.’ (Cropanzo, Russell & Mitchell, Marie S., 2005, p. 874). This is true because this is a theory that can help individuals organize and explain why and when we continue some personal relationships, while ending others. This theory has helped me develop a better understanding on why I have chosen or not chosen to maintain the relationships…

    Words: 922 - Pages: 4
  • Foreign Exchange Risk Essay

    the foreign exchange risk. Foreign exchange risk is the risk that companies face a potential gain or loss due to the fluctuation of an exchange rate change. Companies could be subject to a significant financial loss even with a small change in the exchange rate. Thus, the primary purpose of managing foreign exchange risk is to mitigate potential currency losses. There are at least three strategies companies can manage their foreign exchange risk. They are forward contracts, currency swaps…

    Words: 735 - Pages: 3
  • Foreign Exchange Risk Essay

    countries. Companies trading across territories transact in various national currencies and denominate their assets and liabilities in foreign currencies (Arnold 2008). Consequently, the theory of foreign exchange risk as illustrated by Moyer et al. (2011) and Lumby (2001) posits that multinational companies are exposed to various types of foreign exchange risks. These include the economic exposure, the transactional exposure and the translational…

    Words: 1062 - Pages: 4
  • Equilibrium Exchange Rate Essay

    Explain what is meant by an equilibrium exchange rate. The equilibrium exchange rate is commonly defined as the currency rate of exchange where both the currencies being supplied is equal to the demand for it (Economics Online, 2014). According to Glossary of Statistical term (2002), the equilibrium exchange rate that is equal to currency’s purchasing power parity. It is determined differently using different monetary standards. The equilibrium exchange rate can be stable in addition to being…

    Words: 817 - Pages: 4
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