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economy
population’s system of production, distribution and consumption of resources
reciprocity
exchange of goods between individuals of generally equal social status
what are some advantages and drawbacks to redistribution?
advantage, everyone has access to available resources, better able to store resources for future needs. disadvantage in what is redistributed is rarely equivalent to what is paid
redistribution
goods collected at a centralized location to be spread out throughout the population
the market principle
products are purchased with currency
what are the features of capitalism?
means of production controlled by a few, most individuals sell labor not products, labor invested is worth more than wages provided
generalized reciprocity
giving goods without expectation of reimbursement
balanced reciprocity
exchange of one type of good for another type of good of equal value (bartering)
negative reciprocity
exchange within material advantage
specialization
individuals know a single skill very well but cannot support themselves individually
foraging group
foraging groups - individuals collect resources from themselves and their social group
advantages and disadvantages of specialization
advantage - improved skills, increased surplus
disadvantages - must rely on everyone doing their job for society to function
industrialized societies
industrialized societies - individuals focus on one skill and reply on others to fulfill the rest of their needs