SOC 111 : SOC 111 REVIEW.docx
Document Summary
Mode of production: how we produce and exchange the necessities of life and how we reproduce the species. There are 4 modes of production: ancient communal societies, nomadic, small in size, egalitarian, slavery, feudalism, both: agricultural societies, settled on the land, large in size, inequality/class, capitalism, industrial, settled on the land, large in size, inequality/class, worldwide. Relations of production: private ownership, social ownership, personal property, private property, who owns and controls the means of production, who works and does not work, source and size of wealth and how its distributed. Means of production: tools and technology + nature. Natural economy vs. market economy: a natural economy is a type of economy in which money is not used in the transfer of resources to people. Instead a system of allocating resources from bartering goods, entitlement (by law or through inheritance) and by sharing (typically a traditional custom between neighbours/close families).
