Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/23

Click to flip

23 Cards in this Set

  • Front
  • Back
Balanced Reciprocity
Exchange of goods and services of a specified value at a specified time and place.
Barter
An exchange of products in which one person gives one type of product in exchange for another type of product.
Capital
Land, money, factories, and the like that support and supply the materials needed for production.
Capitalism
An economic mode of production in which the goal is to amass wealth in the form of money in order to gain control over the means of production and then use this control to accumulate even greater wealth.
Colonialism
Policies in which countries establish colonies in distant places in order to exploit their resources and labor, and possibly to establish settlements of their own citizens abroad.
Commodity
A product that can be sold or traded in return for money or other products.
Consumerism
Culture of consumption of goods and services.
Consumption
The use of subsistence resources, including outcomes of production.
Economic System
Cultural methods of allocating natural resources, the means of exploiting the resources through technology, the organization of work, and the production, distribution, consumption, and exchange of goods and services.
Generalized Reciprocity
The exchange of goods and services without keeping track of their exact value, but often with the expectation that their value will balance over time.
Industrial Agriculture
Application of industrial and chemicals to farming in order to increase productivity.
Industrialism
The use of machines to produce products and foods.
Intensive Agriculture
Application of technology and intensive labor to farming, such as the plow and irrigation.
Market Economy
Economic system in which products are traded in impersonal exchanges between buyers and sellers using an all-purpose currency.
Mission System
Pattern of Spanish colonization of the Americas in the name of the Roman Catholic Church.
Negative Reciprocity
Exchange of goods and services in which each party seeks to benefit at the expense of the other, thus making profit.
Poll Taxes
Taxes levied on households.
Potlatch
Ceremonial feast, characteristic of indigenous Pacific Northwest coast societies, during which hosts distributed to guests a great deal of food and goods that had been accumulated over many months or years.
Production
System of extracting resources and utilizing labor and technology in order to obtain foods, goods, and services.
Redistributive Networks
Economic systems in which food and other goods are amassed by an organizer and then distributed to community members or guests at large public gatherings.
Specialization of Labor
System of allocating work in which different people perform different tasks.
Surplus Value
The amount of value produced by workers in capitalist production that is greater than the wage paid to them.
Trade
System of exchange in which goods are exchanged for either other goods or for money.