Search results
Results from the WOW.Com Content Network
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...
Today, concepts of social class often assume three general economic categories: a very wealthy and powerful upper class that owns and controls the means of production; a middle class of professional workers, small business owners and low-level managers; and a lower class, who rely on low-paying jobs for their livelihood and experience poverty.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
However, data shows substantial social segregation correlating with economic income groups. [10] Social mobility is the movement of individuals, social groups or categories of people between the layers or within a stratification system. This movement can be intragenerational or intergenerational.
Those taking the functionalist approach to sociology and economics view social classes as components essential for the survival of complex societies, such as American society. [7] Assortative mating in humans has been widely observed and studied. It includes the tendency of humans to prefer to mate within their socio-economic peers, that is ...
However, data shows substantial social segregation correlating with economic income groups. [1] Economic stratification refers to the condition within a society where social classes are separated, or stratified, along economic lines. Various economic strata or levels are clearly manifest. While in any system individual members will have varying ...
The word "economics" is from the Ancient Greek οἶκος (oikos, "family, household, estate") and νόμος (nomos, "custom, law"), and hence means "household management" or "management of the state". An economist is a person using economic concepts and data in the course of employment, or someone who has earned a degree in the subject