Sociology 2240E Lecture Notes - Lecture 5: Phenylalanine, Makar, Behaviorism
12 Jan 2016
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Document Summary
Interaction is an exchange of tangible or intangible goods and services, ranging from food and shelter to social approval or sympathy. People choose to participate in an exchange after considering costs of other actions. What are the 5 intellectual roots of exchange theory: 19th century, thinkers and philosophers who emphasized individual activity and choice, george simmel. Interaction that takes place outside of any type of exchange. Interactions that take place so that people may obtain things that they want: economists- adam smith, david ricardo, and carl menger, they emphasize that we live in a world of scarcity. Individuals are rational profit maximizes, make decisions based on preferences: more of something an individual has, less interested they will be in getting more, greater demand for an object= more value" = higher price. Greater the supply= less valuable = less expensive: goods are more expensive when supplied by a monopolist rather than firms in competition. Dvd, computers, vcr"s: human interactions and relationships.
