SOCA02H3 Lecture Notes - Lecture 7: Labor Market Segmentation, Deskilling, Combines Investigation Act
Document Summary
Week 8 lecture #7: monday february 22, 2016. The economy: the economy refers to the social institution that organizes the production, distribution, and exchange of goods and services (p. 333, divided into three sectors. Primary includes raw natural resources such as farming, fishing, logging, and mining. Secondary relates to manufactured goods: tertiary is service-based. Includes the use of tools to herd cattle and grow plants as well as the domestication of animals to aid in these endeavors: dogs herding cattle, oxen pulling plows. Industrial revolution: made manufacturing the dominant economic sector. Based on the production of finished goods and trade in markets: markets: social relations that regulate the exchange of goods and services. In a market, the prices of goods and services are established by how plentiful they are (supply) and how much they are wanted (demand) (p. 327). Postindustrial revolution: currently dominant, automation of the workplace has displaced many individuals from manufacturing while service industry has become more prevalent.
