Anthropology and Economics Lecture Review

These flashcards cover major terms and concepts from the lecture notes on anthropology branches, archaeological terminology, linguistic and genetic subfields, and foundational economic principles including factors of production, national income, and key definitions.

What does primatology focus on studying?

The behavior, genetics, and social structures of primates to gain insights into human evolution and behavior.

What is anthropometry used for in biological anthropology?

Measuring human body dimensions to study human variation, growth, and nutrition, with applications in ergonomics and forensic science.

Which anthropological subfield applies skeletal analysis to legal investigations?

Forensic anthropology.

What does sociocultural (cultural) anthropology typically examine?

The diverse ways of life in different societies, including social structures, beliefs, rituals, and practices through fieldwork and ethnography.

Archaeological anthropology is concerned with what primary activity?

Studying past peoples and cultures by excavating and analyzing material remains.

In archaeology, what are artifacts?

Objects made or modified by humans, such as tools, pottery, and jewelry.

What are ecofacts and why are they important?

Natural materials used or affected by humans (e.g., plant remains, animal bones) that reveal information on past environments and human–environment interactions.

What is the main focus of prehistoric archaeology?

Reconstructing the lifeways of societies that existed before written records.

How does historical archaeology differ from prehistoric archaeology?

It studies societies with written records, combining archaeological data with historical documents.

What does linguistic anthropology study?

The role of language in human societies, including structure, use, change, and its relationship with culture.

What does sociolinguistics investigate?

The relationship between language and social factors such as class, gender, ethnicity, and age.

Name one key contribution of anthropology to society.

It promotes appreciation of human diversity and challenges ethnocentrism, aiding solutions to issues like inequality, conflict, and environmental sustainability.

What does population genetics examine in anthropology?

Biological inheritance and human variation among living populations to solve practical problems.

What question does paleoanthropology primarily address?

How humans emerged and evolved up to the present time.

In economics, what does capital represent in the physical-asset sense?

Major physical assets individuals and companies use when producing goods and services.

Who coordinates land, labor, and capital in production?

The entrepreneur.

What is foreign exchange and why is it vital?

Dollar and other currency reserves needed for international trade and purchasing materials from other countries.

Define consumer in economic terms.

A person or business that buys or uses goods or services.

What are economic resources (factors of production)?

Land, labor, capital, and entrepreneurship used to produce goods and services.

Why is land considered an economic resource?

It is limited, has a price, and includes natural gifts such as soil, water bodies, forests, and minerals.

What does labor encompass in economics?

All human effort, mental or physical, used to produce goods and services.

In monetary terms, what is capital?

Financial resources used to purchase natural resources, labor, and other inputs for production.

What does distribution refer to in economics?

Marketing and delivering goods and services to various economic outlets.

What is economic exchange?

The process of transferring goods and services to someone in return for something else.

What is the present medium of exchange in most economies?

Money.

How is consumption defined in economics?

The proper utilization or spending on goods and services to satisfy wants.

What does public finance study?

Government activities related to taxation, borrowing, and expenditures for efficient and fair use of public resources.

What distinguishes goods from services?

Goods are tangible items that can be used or consumed; services are actions performed for someone else.

Who is a producer?

A person or business that makes goods or provides services.

What does Gross National Product (GNP) measure?

The total value of all final goods and services produced by a nation's economy in a specific time period.

What does national income represent?

A country's total wealth, reflecting the net value of all goods and services produced by its economy.

What does microeconomics focus on?

The economic behavior of individual units such as households, firms, and landowners.

What does macroeconomics study?

The economic behavior of the whole economy or its aggregates.

In production, what are the main factors of production?

Land, labor, capital, and entrepreneurship.

According to Fajardo, what is economics?

The proper allocation and efficient use of available resources for maximum satisfaction of human wants.

How does Nordhaus define economics?

The science of choice, studying how people use scarce resources to produce various commodities.

What is Sicat's view of economics?

A scientific study of how individuals and society make general choices.

How does Webster's dictionary define economics?

The branch of knowledge that deals with production, distribution, and consumption of goods and services.

From what Greek term is "economics" derived and what does it mean?

Oikonomia, meaning "house management."

What is production in economic terms?

The process of creating goods and services needed by households to satisfy their needs.