Chapter 7 Flashcards

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1
Q

Capital

A

What we use to get what we want

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2
Q

Economic Capital

A

Can become money or is money

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3
Q

Income

A

Where we get money/ how we are paid

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4
Q

Wealth

A

Money you have now (-) debts

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5
Q

Measures of Central Tendency

A

Median, Mean, Mode

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6
Q

Median

A

The middle value

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7
Q

Mean

A

Sum of values divided by # of values

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8
Q

Mide

A

Most often occurring number

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9
Q

Egalitarian

A

Belief that everyone is equal in value

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10
Q

Egalitarianism in foraging groups…

A

They were more egalitarian than we are now

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11
Q

Social stratification started

A

(Sorting group layers) -> 10,000 years ago (when farming started)

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12
Q

What farmers did with their food

A

Saved their food, sometimes starving occurred/ foraging does not produce food. Extra food farmers stored could be traded (land, animals)

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13
Q

When farmers had more food and could trade, overtime…

A

Social inequality rose (social stratification)

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14
Q

Caste Systems

A

Stayed in same layer (born in)

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15
Q

Federal systems

A

Rich controls poor

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16
Q

Enslavement Systems

A

Rich own slaves

17
Q

Social Mobility

A

Ability to move up or down groups

18
Q

Class Systems

A

Sorting into economic group

19
Q

Wage

A

How much you get paid

20
Q

Capitalism

A

The right to make more money than others (America, Elon Musk)
Humans buy a lot of things now, and capitalism helps lower prices

21
Q

Karl Marx

A

(1818-1883) Was in Europe, during industrial evolution

22
Q

Karl Marx said

A

Capitalism can be bad

23
Q

Proletariat

A

Working class (blue collar)

24
Q

Bourgeoise

A

The bosses (white collar)

25
Q

Means of production

A

Things we use to create wealth

26
Q

Labor

A

The work people do/ perform

27
Q

Alienation

A

No connection between result of labor

28
Q

Crisis of Capitalism

A

Event where capitalism does not recover

29
Q

Class Consiousness

A

Social classes share interests

30
Q

Socialism

A

System working together to create wealth/ money
Government distributes evenly
(Last Lectured term for Exam 2)