SOC100H5 Lecture : Chapter 16 - The Economy & Work - pp.374-398
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SOC100H5 Full Course Notes
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Document Summary
The social institution that organizes the production, distribution, and consumption of goods and services. Agricultural revolution: hunters and gatherers had technologically simple societies with no distinct economy, this revolution allowed the economy to bring in agricultural techonology, specialized work, permanent settlements and trade. Industrial revolution: began in mid-1700s, changed the economy in five fundamental ways: New sources of energy, centralization of work in factories, manufacturing and mass production, specialization, wage labour. Post industrial economy & information revolution: began around the 1950"s, based on a shift from industrial work to service work, computer technology. Primary -part of the economy that draws raw materials from the natural environment www. notesolution. com. Secondary - part of the economy that transforms raw materials into manufactured goods. Tertiary - part of the economy that involve services rather than goods. Global economy - expands economic activity that crosses national borders. Economic systems: paths to justice: economic systems make a statement about justice: who is entitled to what.
