SOSC 2210 Study Guide - Midterm Guide: Cultural Imperialism, Human Capital, Structural Unemployment
3 Nov 2014
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Commodification: the process of turning things that satisfy human needs into objects that can be bought and sold on the market for a price. Private property: the mean of production, tool, land, building, machine or raw material that necessary in production. Profit-driven production: property owners are driven to maximized the revenue and minimized the cost. Competition: the drive to accumulate more than others in the market. Innovation: the drive to develop new technologies, production processes and products. Urbanization: the trend that people migrate to densely populated areas to access to work and markets. Market dependence: refer to the situation when all need had to be satisfied through market exchange. Individualism: the idea of people in the society should rely on themselves to promote one"s desire and exercises. It advocate that individual interest is higher than the interest of a social group and society. Wage relation: the relation between capitalist and working class connected by wage.
