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Anthropology 101
Economic Exchange
| Question | Answer |
|---|---|
| Economic System | An organization arrangement for producing, distributing, and consuming goods |
| Redistribution | A mode of exchange in which goods flow into a central place, where they are sorted, counted, and reallocated |
| Technology | Tools and other material equipment, together with the knowledge of how to make and use them |
| Division of Labor | A look around the world reveals many different labor patterns, but two features are almost always present in human culture: a basic division of labor by gender and by age |
| Reciprocity | The exchange of goods and services, of approximately equal value, between two parties |
| Generalized Reciprocity | A mode of exchange in which the value of the gift is not calculated, nor is the time of repayment specified |
| Balanced Reciprocity | A mode of exchange in which the giving and the receiving are specific as to the value of the goods or services and the time of their delivery |
| Negative Reciprocity | A mode of exchange in which the aim is to get something for as little as possible. Neither fair not balanced, it may involve hard bargaining, manipulation, outright cheating or theft |
| Kula Ring | A form of balanced reciprocity that reinforces trade and social relations among the seafaring Melanesians who inhabit a large ring of islands in the southwestern Pacific Ocean |
| Conspicuous Consumption | A showy display of wealth for social prestige |
| Potlatch | On the northwestern coast of North America, a ceremonial event in which a village chief publicly gives away stockpiled food and other goods that signify wealth |
| Prestige Economy | The creation of a surplus for the express purpose of displaying wealth and giving it away to raise one's status |
| Leveling Mechanism | A cultural obligation compelling prosperous members of a community to give away goods, host public feasts provide free service or otherwise demonstrate generosity so that no one permanently accumulates significantly more wealth than anyone else |
| Market Exchange | The buying and selling of goods and services, with prices set by rules of supply and demand |
| Informal Economy | A network of people producing and circulating marketable commodities, labor, and services that for various reasons escape government control |
Created by:
crescenti
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