economy

Examples of economy in the following topics:

• Informal Economy

  • This is in contrast to the formal economy; a formal economy includes economic activity that is legal according to national law.
  • All economies have informal elements.
  • Dealing drugs is an example of participation in the informal economy.
  • This video describes how the informal economy fails to provide some of the same social benefits as work in the formal economy.
  • Analyze the impact of the informal economy on formal economy, such as the black market or working "under the table"

• Informal economy

  • An informal economy is economic activity that is neither taxed nor monitored by a government and is contrasted with the formal economy as described above.
  • The informal economy is thus not included in a government's Gross National Product or GNP.
  • Although the informal economy is often associated with developing countries, all economic systems contain an informal economy in some proportion.
  • The terms "under the table" and "off the books" typically refer to this type of economy.
  • The term black market refers to a specific subset of the informal economy.

• The Economy

  • The United States is an example of a capitalist economy.
  • China and North Korea are examples of communist economies.
  • France is an example of a largely socialist economy.
  • Economies can be divided into formal economies and informal economies.
  • Economies are fundamentally social systems.

• Preindustrial Societies: The Birth of Inequality

  • Pre-industrial typically have predominantly agricultural economies and limited production, division of labor, and class variation.
  • The economy was based mostly on agricultural production.
  • The economy was based on the exchange of labor for land instead of the exchange of wages for labor that is typical in industrial society.
  • This arrangement (land access in exchange for labor) is sometimes called "manorialism," an organizing principle of rural economy that originated in the villa system of the Late Roman Empire.
  • Discuss the different types of societies and economies that existed during the pre-Industrial age

• Industrializing Countries

  • Brazil's economy must continue to grow if the nation's standards of living are to rise and if the nation is to become a more prominent figure in the world economy.
  • While Brazil has not fully developed its industrial base and its economy has much room for expansion, it is a more powerful player in the global market than less developed nations, such as Haiti.
  • However, standards of living in India have greatly improved in recent decades as a result of a rapidly expanding economy.
  • First, it implies that a country's economy is growing; some partially industrialized countries are stagnant or in decline.
  • Because of such critiques, some scholars use the term less-developed country to describe the present circumstances in countries with relatively small economies and little infrastructure .

• History

  • Economy refers to the ways people use their environment to meet their material needs.
  • These factors give context, content, and set the conditions and parameters in which an economy functions.
  • As long as someone has been making and distributing goods or services, there has been some sort of economy; economies grew larger as societies grew and became more complex.
  • The ancient economy was mainly based on subsistence farming.
  • In Medieval times, what we now call economy was not far from the subsistence level.

• Capitalism in a Global Economy

  • The term "world economy" refers to the economic situation of all of the world's countries.
  • It is common to limit discussion of world economy exclusively to human economic activity.
  • World economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult.
  • Today, these trends have bolstered the argument that capitalism should now be viewed as a true world system, given that all national economies trade with capitalist states and are therefore influenced by capitalist policies.

• Multinational Corporations

  • Multinational corporations can have a powerful influence in local economies, and even the world economy.
  • These patents often allow multinational corporations to exercise a monopoly in the local economy, preventing local enterprises from developing.
  • Multinational corporations play an important role in the world economy through the process of economic globalization; in other words, the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology and capital.
  • Multinational corporations have played a leading role in this globalization, establishing multiple links between the economies of various countries.
  • These multiple links lead to an increasing economic integration between various economies, resulting in the emergence of a global marketplace or a single world market.

• Personal Experiences of Individuals With Degrees in Sociology

  • Karen Ehrhardt-Martinez, works for the NGO American Council for an Energy-Efficient Economy (ACEEE): http://www.asanet.org/footnotes/feb08/fn6.html

• Least Industrialized Countries

  • Samoa has been characterized as a least developed country by the UN because of its small economy and the vulnerability of its agricultural industry.
  • While LDCs can expand their economies and improve standards of living, they are vulnerable to economic setbacks and often require international support.
  • Modern sociologists are more likely to describe the world's least industrialized nations as "peripheral," referring to their marginalized position in the world economy.
  • They participate in the world economy, but do not greatly benefit from it.
  • Least industrialized nations are at the bottom of a stratified global economic order, and play only a peripheral role in the international economy .