AN110: Economics Without Numbers Lecture Notes

These flashcards cover key concepts from the lecture on economics, social media, consumer behavior, and anthropology, designed to assist students in reviewing their notes for the exam.

Cognitive Assonance

Cognitive assonance is when the mind is attracted to like ideas, grouping new ideas with existing ones.

Veblen Goods

Veblen goods are products whose demand increases as their price rises, opposed to the general economic principle that demand decreases with rising prices.

Kardashian Frenzy

A phenomenon in social media where individuals gain fame primarily for being famous, rather than for any specific talent or achievement.

Social Media Influencer

A person who has developed a professional presence on social media platforms, often promoting brands or products.

Conspicuous Consumption

The act of buying and using products to publicly display wealth rather than to meet basic needs.

Human Rights Perspective on Signal Access

Increasingly, individuals consider access to signal and connectivity as a fundamental right.

Sponsorship in Social Media

A process where influencers promote products in exchange for compensation, which can be either overt or covert.

Gifting Culture

An egalitarian gifting culture seen at Burning Man characterized by shared resources and valuing acts over possessions.

Materialism

A tendency to prioritize material possessions and physical comfort over spiritual or intellectual values.

The Original Affluent Society

A term used to describe hunter-gatherer societies like the !Kung San, which have been studied as models of human economic development.