Soca Exam 3 – Flashcards
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market
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any setting in which buyers and sellers engage in exchange
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central planning
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an economy in which governments plan the amount of goods to be produced and their price for consumers employed in socialist economies in Eastern Europe
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capitalism
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an economic system organized around private property and market exchange characterized by economic systems based on private property and market exchange
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socialism
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an economic system where the government owns some of most of all productive enterprises, and makes decisions about the amount and types of goods and services to be produced found in economic system where government owns property and controls production
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entrepreneurs
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one who invests money in a business (outsourcing)
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rational choice perspective
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a perspective and social and economic theory that emphasizes the centrality of individual decision making based on how individuals think about their well being and how best to advance it
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social networks
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the ties or connections between people, groups, and organizations involve connectivity between people integral part of market exchanges
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organization
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a social group or social network that is unified by a common institutional structure, such as a government agency, a school, a business firm, the military, or a religion group engaged in specific activity that has identifiable purpose or goal and that had enduring for an association
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bureaucracies
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a type of organization that has rules and responsibilities for each position or job spelled out, in which selection into those positions occurs on the basis of merit
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garbage can model
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a type of decision making in organizations where problems and solutions are addressed unsystematically and haphazardly downside of bureaucracies
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loose coupling
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an organizational environment in which those at the top do not have control over the activities and decisions underneath them downside of bureaucracies
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structural inertia
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the extent to which an organizations rules and routines are relatively fixed and difficult to change
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niche
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a unique place or opportunity that can be profitably filled by someone or some group
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organizational isomorphism
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the process by which similar organizations adopt similar rules and procedures Organizations in same field tend to become increasingly similar to each other over time (DiMaggio and Powell 1983)
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coercive isomorphism
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similarities between organizations that arise out of legal or other requirements. Organizations become similar because they have no choice (ADA compliance)
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normative isomorphism
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the process of organizations becoming similar because of a widespread belief among their members and the members of similar organizations that they should adopt certain rules and procedures (expectations of people organization severs)
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mimetic isomorphism
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the tendency of similar organizations to adopt the same kinds of rules and procedures in belief that what works for one organization should work for others imitating parts of organizations visible in environment)
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division of labor
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the specialization of individuals in any organizations or group, or in society as a whole, particularly in relation to work
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Industrial Revolution
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the period in which mass production in factories began to develop and fostered rapid economic growth
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labor process
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the organization of work, in terms of the relationship between workers and employers, the way specific work tasks are structured and performed, and the technologies and organizational environments in which the work is performed
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deskilling
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the process of breaking down the tasks involved in the production of goods or services into parts that can be done by someone with specialized training lose authority over the production process
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autonomy
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in work, the power to decide what and how one performs one's daily tasks, free of close supervision
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unions
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an organized association of workers created in order to protect and fight for rights or resources for their members Power to negotiate, monitor working conditions and ensure regulation compliance
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lean production
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a term used to describe the efforts of economic organizations in recent years to achieve more efficiency by constantly scrutinizing and reducing costs in every way possible continually identifies and constantly reduces costs
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outsourcing
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common in globalization, refers to the contracting of parts of the production process to another party, possibly located abroad
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social democratic model
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a system of organizing production and the economy that combines features of socialism and capitalism, provides workers with far greater protection against mistreatment and arbitrary layoffs
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social stratification
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a subfield of sociology that examines inequalities among individuals and groups
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inequality
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the unequal distribution of valued goods and opportunities in society
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median
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a statistical term that refers to the value that lies at the middle or midpoint of all data, with an equal number of cases with either higher or lower values
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income
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the receipt of money or goods over a particular accounting period
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wealth
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the net value of all assets owned by an individual or family, including the value of their home
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net financial assets (NFA)
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the total value of savings, investments, and other convertible assets a person has, minus any debts, and excluding one's primary home savings, investments, and other convertible assets
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consumption
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the act of purchasing and using goods and services
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well being
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the different dimensions of life that are essential to our everyday lives. health, exposure to crime and violence, exposure to environmental risks like air or water pollution, and one's general level of happiness
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middle class
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a group of people who occupy the middle positions in terms of income and status in an economic system home mortgages (personal bank), colleges, cars and more
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socioeconomic status (SES)
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a broad definition of a person's social class based on components such as education, income and occupation
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egalitarian
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a society, organization, or group characterized by having little or very low levels or inequality
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skill based technical change (SBTC)
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the ways in which technological advancements create jobs that require high skill
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globalization
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the growing permeability of national borders and the increase in flows of goods, services, and people across national borders
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economic restructuring
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changes in the way the economy, firms, and employment relations are organized
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productivity
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the amount of output an individual is able to produce in a given period of time
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progressive tax system
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a tax system in which tax rates are higher on richer people than poorer people, with the idea being that it is fairer to ask those who can afford to pay more to do so
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minimum wage
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established by law, the lowest hourly wage a worker can by paid working poor gets minimum wage
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labor markets
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the process through which employers identify and hire individuals to work under specified terms of employment
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meritocracy
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a system where rewards and positions are distributed by ability, not social background or personal connection
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poverty line
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established by the government, it is the minimum income necessary to afford basic necessities, anyone below this threshold is considered to be in poverty absolute poverty
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relative poverty
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a term used to define people as poor not by assessing whether their resources are sufficient enough to obtain basic social necessities but rather by comparing their incomes relative to other people in society attempts to capture changes in living standards
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absolute poverty
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a measure of the minimum requirements needed for people to have basic standards of food, clothing, health, or shelter
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working poor
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people who do not make enough income to be free from poverty, even if they work full time
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homelessness
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an extreme form of poverty defined by lack of permanent shelter to live in average age is 9 40% is children under 18
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who is in the 1% of america society?
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bottom 30% lowest classof worlds population; top 1% controls 32% of population
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key determinants of poverty
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1 out of 6 live in poverty; Education< less than HS Employment status- minimum wage Minority status- disproportionately represented Family structure- Single parents
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percents
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in 2o13 45.3mill poverty 43.6% children under 18 27.3% people 18-64 17.6% people 65+ 3/10 families are working poor 2-12 years on HUD waiting list 47mill are on food stamps
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orgs shaped by environment?
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Creating good match to initial environment and a subsequent structural inertia (Hannan and Freeman, 1989) -Identifying and fulfilling niche for services or products in competing environments -Identifying and persuading potential donors
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orgs in a similar field become similar over time, why?
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DiMaggio and Powell 1983) isomorphisms
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features of "good" job and job satisfaction?
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Worker satisfaction, rate of pay, Amount of autonomy, status, amount of trust, level of skills and credentials, job securing
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organization of work in US vs. other countries
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Comparing work in America with Similar Countries Capitalist market economies -Role of unions -Kind and amount of government laws or regulations Unions -Power to negotiate, monitor working conditions and ensure regulation compliance -Lack of Unions and Lack of Gov. Regulation -Unions- Represent the worker as a group. (10% of total workforce America) -Far fewer governmental regulations than other developed countries -Lean production- continually identifies and constantly reduces costs
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Markets involve exchanges among which three principal classes of economic actors?
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buyers, producers and sellers
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socialism is _____
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An economic system where the government owns property and controls production
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In classical economics, both sides of a transaction (buyer and seller) are assumed to have
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Knowledge about the good or service they are buying or selling
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Which of the following statements about why organizations persist is false?
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Organizations persist because they, especially as they grow, tend to become less bureaucratic
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Alpha Corporation, which has developed an impermeable shell that protects it from environmental demands, strongly resists change and is said, therefore, to exhibit
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structural intertia
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The better an organization matches its initial environment, _________
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The stronger its structural inertia
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Of the Following higher education institution's, which two are most likely to be in the same niche market
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Harvard University and Yale University
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The average full-time worker in America works _____ per year than the average full-time worker in other similar countries.
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more hours
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In comparison with other countries with advanced economies, the United States has __________
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less workplace regulation and weaker labor unions
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Enrique took pride in his ability to handcraft furniture, enjoying each step in the construction, assembly, and finishing of each piece. When his business failed, he began working at a furniture manufacturing plant, where he was responsible for nailing upholstery to sofa and chair frames. Enrique's experience is an example of __________.
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deskilling
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The concept of __________ is at the heart of the study of social stratification.
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social inequality
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According to class lecture, the average income per person in the United States was about __________.
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$44,000
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According to your textbook, the top 1 percent of the world's population controls _________ percent of the entire world's wealth.
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32
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According to your textbook, the bottom 30 percent of the world's population controls less than __________ percent of the world's wealth.
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1
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According to your textbook, two billion of the world's poor live on less than _____ a day.
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$2
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_____refers to the receipt of money over a period of time, whereas____ refers to the net value of assets that one has at a given point in time
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income; wealth
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the primary way in which most Americans accumulate wealth is through____
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home ownership
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well-being includes all of the following aspects of everyday life EXCEPT_____
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loan repayment schedules
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one justification of inequality cited in class is associated with the desirability of ensuring that___
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talented people are properly incentivized
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as a result of economic restructuring, average wages have___since the 1970s
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stagnated
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the majority of minimum-wage employees are _____
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adults
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in a meritocracy_____
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rewards are linked to personal ability
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critisims of the poverty line include all of the following EXCEPT:
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it measures only relative poverty
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when did homelessness begin to grow into a serious problem in the US?
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1980s
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why is it difficult to get an accurate count of the homeless?
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many of the homeless temporarily live with friends or family
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Patricia works as a sales manager and earns approximately $60,000 a year. She owns her own home and has $20,000 in the bank as an emergency fund. She also owns a rental property, from which she earns $12,000 a year. Which of the following responses best represents her wealth?
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her two properties and her $20,000 savings
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which of the following scenarios best represents outsourcing?
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the opening of a call center for an American credit card company in the Phillipines
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The components of Nike tennis shoes are produced in different parts of the world. The final assembly of the shoes is completed in China. Thereafter the shoes are shipped to the United States, where David purchases a pair at a suburban mall in Denver. Of the following economic phenomena, which does this scenario best represent?
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globalization
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Remington is involved in the Occupy Wall Street movement. He camped out for weeks at a park opposite the statehouse in Columbus, Ohio, and was eventually arrested. Remington, like other protestors, has many concerns about his economic condition, but he likely joined the movement to protest ___________.
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the disparity in income and wealth between the top 1 percent of Americans and everyone else
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Karen is a home care aid. She earns about $10.00 an hour and works 40 hours a week. She is unable to save, and last month her car broke down. She cannot not afford to fix her car, being already late in paying her bill for gas and electricity. From this description of Karen's life, you conclude that she is a member of which class?
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the working poor
