SOCI 1010 Chapter Notes - Chapter 19: Pink-Collar Worker, Scientific Management, Industrial Engineering
11 Apr 2016
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Economy: the social institution that ensures the maintenance of society through the production, distribution, and consumption of goods and services. Goods: tangible objects that are necessary or desired. Services: activities for which people are willing to pay, such as haircut, a movie, legal advice, etc. Labor: the physical and intellectual services, including training, education, and individual abilities, which people contribute to the production process. Capital: wealth (money or property) owned or used in business by a person or corporation. Hunting and gathering, horticultural and pastoral, and agrarian societies are all preindustrial economies. Primary sector production: the extraction of raw materials and natural resources from the environment. * at the beginning of the 20th century, the majority of workers in canada were farmers. By the end of the century, however, only 3 percent were agriculture workers and other primary sector workers were equally rare. Secondary sector production: the processing of raw materials into finished goods.
