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Home Page Social Science Political Science Civics SOCY100 Chapter 8 - Flashcards

SOCY100 Chapter 8 – Flashcards

Dennis Jennings
8 July 2022
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Markets
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Places where buyers and sellers exchange goods and services. They are the foundation of economic life today.
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Social Network
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Composed of ties between people: family, friends, colleagues, classmates, etc.
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How do social ties affect markets?
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Markets need social ties to establish the trust necessary to carry out economic exchanges. Also to spread information about markets.
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How does power influence markets?
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Auditing firms may produce reports that show a company's finances incorrectly to get more investors. Insider trading. High frequency traders who have good technology are at an advantage.
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Organization
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A group engaged in a specific activity that has an identifiable purpose or goal and that has an enduring form of association that is independent of the people involved in it at any one moment.
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Bureaucracy
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Organization where rules are written down and defined roles are clear.
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What advantages does a bureaucracy bring? Disadvantages?
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Advantages: Provides strength and stability Disadvantages: Creates stifling routines and boring jobs. Makes it hard for organizations to be more innovative and adapt to market changes.
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3 Types Of Isomorphism
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Coercive: organizations are pressured to comply with certain legal requirements Normative: organizations respond to pressures exerted over its legitmacy Mimetic: facing uncertainties, organizations look at what other organizations are doing and copy them.
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Deskilling of the labor process
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Steady process in which jobs are made simpler and workers become interchangeable.
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Features of Good Jobs
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Autonomy (freedom) Status Trust Level of skill and importance of credentials needed. Job security
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.