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Sociology Corporations
28 cards·by etiojanco
What are the 3 Tech Revolutions
Agricultural, Industrial, Informational
What is a corporation?
An organisation with a legal existence including rights and liabilities apart from that of
its members
Agricultural
Hunters and gatherers. Simple Societies. no distinct economy
Agricultural revolution brought...
Job specialization, permanent settlements, trade
How did industrialization change economy (1)
New sources of energy
How did industrialization change economy? (2)
Centralisation of work in factories
How did industrialization change economy? (3)
Manufacturing and mass production
How did industrialization change economy? (4)
Specialisation
How did industrialization change economy? (5)
Wage Labor
What is the information revolution?
A productive system based on service work and information technology
What is primary sector of economy?
part of the economy that draws raw materials from the natural environment
Secondary sector of economy?
part of the economy that transforms raw materials into manufactured goods
tertiary sector of the economy?
: part of the economy that involve services rather than goods
What is the Global economy?
Expands economic activity that crosses national borders
What are the consequences of global economy?
Global division of labour and passing of products through several nations
consequenses of global economy
national governments have less control, concerns about rights of workers, small number
busns control vast share of market
What are the 2 general economic models
Socialism and Capitalism
what is capitalism?
An economic system in which natural resources and the means of producing goods and services
are privately owned
what is socialism?
An economic system in which natural resources and the means of producing goods and services
are collectively owned
What is welfare capitalism?
An economic and political system that combines a market-based economy with extensive social
welfare programs
What is state capitalism?
An economic and political system in which companies are privately owned but co-operate
closely with the government
What are the advantages of capitalism and socialism?
Economic productivity, Economic equality, Personal Freedom
Elaborate on Economic productivity btwn capitalism and socialism
capitalism out-produces socialism by 2.7:1 ratio
economic equality btwn capitalism and socialism
: socialist economies create less income disparity but offer a lower overall standard of
living
personal freedom
capitalism has freedom to pursue self-interest and socialism has freedom from basic want
what are labour unions?
Worker organisations that seek to improve wages and working conditions through various
strategies including negotiations and strikes
what are conglomerates?
Giant corporations composed of many smaller corporations
what are corporate linkages?
Interlocking directorates, social networks of people serving simultaneously on the boards
of directors of many corporations