SOC 302 Chapter Notes - Chapter 14: Mass Customization, Absenteeism, Outsourcing
Document Summary
Work - carrying out tasks that require the expenditure of mental and physical effort, which has as its objective the production of goods and services that cater to human needs. Occupation - work that is done in exchange for a regular wage, or salary. Economy - system of production and exchange that provides for the material needs of individuals living in a given society. Economic institutions are of key importance in all social orders. What goes on in economy usually influences other areas of social life. Capitalism - economic system based on the private ownership of wealth, which is invested and reinvested in order to produce profit. Private ownership of the means of production. Free competition for markets to sell goods. Acquire cheap material and use cheap labor. Restless expansion and investment to accumulate capital. Today"s jobs are not agricultural or factory-based; they involve providing service to others.
