Chapter 11: Economies, Politics & Government Flashcards
What are the two key observations about social institutions in relation to the COVID-19 pandemic?
- Each social institution encapsulates a particular need in society.
- Each social institution affects and is impacted by other social institutions.
What are social institutions?
Organized patterns of behavior by which society meets its basic needs, ranging from informal to systematic methods depending on the society’s complexity.
What distinguishes social institutions from groups and societies?
Social institutions are smaller than societies but larger than groups, and they have defined statuses and roles with tasks and rules.
What are the five key social institutions and their basic needs?
Economy - Produces and distributes goods/services
Education - Transfers academic knowledge
Family - Bears, raises, and socializes children
Politics - Allocates power and maintains order
Religion - Meets spiritual needs and provides comfort
What is the primary role of the economy as a social institution?
To produce and distribute goods and services.
What is the primary role of education as a social institution?
To transfer basic academic knowledge.
What is the role of the family as a social institution?
To bear, raise, and socialize children.
What is the role of politics as a social institution?
To allocate power and maintain social order.
What is the role of religion as a social institution?
To meet spiritual needs and provide comfort.
What are the three economic sectors?
Primary Sector - Raw materials from the natural environment (e.g., agriculture, fishing, mining).
Secondary Sector - Manufacturing of finished goods.
Tertiary Sector - Services (e.g., healthcare, teaching, clerical work).
What economic sector dominates in pre-industrial societies?
The primary sector.
What is the economic sector that dominates in industrial societies?
The secondary sector.
What economic sector dominates in post-industrial societies?
The tertiary (service) sector.
What was a major consequence of industrialization?
The division of labor, where workers became separated from the fruits of their labor and often experienced alienation.
What characterizes post-industrial societies?
Predominantly service sector work, increased reliance on knowledge and skills, and a rise in globalization.
What is globalization?
The process of integrating governments, cultures, and financial markets through international trade into a single world market.
What are the two major economic systems?
Capitalism and socialism.
What are the key features of capitalism?
Private ownership of production, pursuit of profit, competition, and lack of government intervention.
What are the key features of socialism?
Public ownership of production, government-controlled pricing, and a focus on collective good and equality.
What is the difference between socialism and communism?
Socialism is an economic system, while communism refers to a system of governance based on socialist principles.
What is a major advantage of capitalism?
It produces more economic growth and innovation due to profit incentives.
What is a major disadvantage of capitalism?
It can lead to monopolies, environmental harm, and selfish, greedy behavior.