chapter 7 Flashcards
economics
the academic discipline that studies systems of production, distribution, and consumption typically in the industrialized world.
why is economics important
allocation of resources is necessary for human survival
classic economic theory assumption
- equilibrium can be reached
2. individuals will always try to maximize profits
economic anthropology
goes beyond supply and demand and the maximization of profits. It is cultural comparisons of processes of production, distribution, and consumption
anthropological approach to economics
- cultural and social context f in which people act
- social and kinship relationships
- ideas and attitudes that shape economic behaviour
Karl Polanyi
economic anthropologist who divided economics into 3 types of modes of distribution
Polanyi 3 types of economic distribution
- Reciprocity- return of a gift
- Redistribution- collection from members of a group ad then redistribution within this group
- Market- money and profits
society’s economy consists of 3 things
production, distribution/exchange, consumption
Production
process of obtaining resources from the natural environment and turning them into goods
exchange
the act of giving or taking one thing in return for another
importance of exchange
exchange establishes and maintains social relationships
units of production non/industrialized societies
non-industrialized- households
industrialized- private firms
division of labour
the assignment of day-to-day tasks to the various members of a society
labour specialization
the extent to which productive activities are divided among the members of a society
subsistence strategy
the pattern a society uses to obtain food
5 food procurement categories
- foraging- hunting-gathering
- horticulture- small-scale cultivation
- Pastoralism- breeding and caring for animals
- intensive agriculture- complex form of agriculture, animal herding
- industrial agriculture- relies on complex machinery