Sociology SOC-R 100 Lecture Notes - Lecture 25: Economic System, Barter, Feudalism
5 Dec 2016
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Document Summary
Prices, production, and distribution are determined by a competitive marketplace. Economic system, based on a simple system. The first thing you would need for a capitalistic company: Consumer consumption (the price and how much people make the product depends on consumer consumption). America is more capitalist than most places even though we aren"t that capitalist. Kings, queens, princes, princesses, barons, knights (noble class) If you walked around england back then, all the buildings you saw was owned by nobles. If the queen of england were to be based off of the land she owns, she would be the richest person on earth because she technically owns london. Industrial revolution: changed economy, work and social life: Before, they just traded, barter, and swapped. Introduces employer and employee relationship (wasn"t common before) A barrel maker would only work for himself compared to an assembly line where the assembly line people work for the barrel company.
