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SOC 105 Final > Week 7 > Flashcards

Week 7 Flashcards

1
Q

Production relations

A

Interactions with other humans during the work process

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2
Q

Means of production

A

Implements such as land, machinery, and tools used in the production process

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3
Q

Exchange relations

A

Buying and selling goods and services in the marketplace

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4
Q

Commodities

A

The goods bought and sold in the markets

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5
Q

Forces of production

A

All productive resources used in the production process

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6
Q

Mode of production

A

Different ways relations and forces of production have been organized throughout history

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7
Q

What were Marx’s modes of production that prevailed through human history

A

Primitive communism, ancient, the feudal, and the capitalist mode of production

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8
Q

What is capitalism

A

An economic system characterized by private ownership of the means of production, from which , personal profits can be derived

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9
Q

What is the basis of capitalism?

A

Capitalism accumulation through investment of financial assets for the purpose of gaining bigger financial returns

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10
Q

Markets and trade existed before capitalism - true or false?

A

True

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11
Q

Where and when did the capitalist economy emerge?

A

Western Europe, 16th century

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12
Q

When did the capitalist economy become the dominant system in the world?

A

19th century

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13
Q

What is the first stage of capitalism

A

Primitive accumulation stage or mercantilism

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14
Q

What did the first stage of capitalism entail?

A

A policy based on trade policies by limiting imports and increasing exports

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15
Q

What else happened in the 19th century?

A

Emergence of nation state’s

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16
Q

What led to the emergence of monopolies ?

A

Concentration of production and capital

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17
Q

How were financial oligarchy created

A

By the merging of financial and industrial capital

18
Q

What necessitates the export of capital?

A

The tendency of the rate of profit declining in any location

19
Q

What happens in anarchy production

A

Many resources can be wasted and markets can be flooded with products that may not be sold

20
Q

What happens during the tendency of overproduction

A

Floods the market with goods that can’t be sold

21
Q

What happens during the tendency of over accumulation?

A

Leads to the rate of profit falling

22
Q

How to deal with over accumulation

A
  1. Create new markets
  2. Moving capital or labour to a different territory and beginning a new production line
23
Q

Oligopoly

A

When several companies control a sector of industry

24
Q

Shared monopoly

A

When four or fewer companies supply 50% or more of a particular market

25
Q

Interlocking corporate directorates

A

Control can also he possible when members of a board of directors of one corporation also sit on the board of other corporations

26
Q

What is politics?

A

The institution that deals with how power is maintained in society

27
Q

What is a state?

A

political entity with a legitimate monopoly over using force within its territory

28
Q

Authority (mw)

A

Power that people accept as legitimate rather than coercive

29
Q

Charismatic authority (mw)

A

Power legitimized based on a leaders exceptional personal qualities

30
Q

Traditional authority (mw)

A

Power that is legitimized based on long standing custom (monarchies)

31
Q

Legal rational authority (mw)

A

Power legitimized by law or written rules and regulations.

32
Q

Which did Weber assume would prevail in modern capitalist societies ?

A

Rational legal authority

33
Q

Role of the state in capitalist society
Mills power elite model

A

Power is concentrated in the hands of a small group of elites both in the government and outside.

The state serves the interests of the ruling class that controls the means of production

34
Q

Role of the state in capitalist society
Domhofs model

A

Accepts that there are conflict of interest among different fractions a of the capitalist class. This may explain relative autonomy of the state during some historical periods

35
Q

Role of the state in capitalist societies
Pluralist model
Functionalist

A

See the state as a functional institution of order and stability
They assume the state tends to act independently of any particular interest group

36
Q

What happened during mercantilism?

A

Emergence in impoverished working class in Europe and colonial expansion in US, Asia, and Africa

37
Q

What was technology used for?

A

To reduce labour costs and competition

38
Q

What do stratified societies have?

A

Inequalities of power

39
Q

What is the primary source of inequality of power?

A

Inequalities in access to key economic resources

40
Q

Marx on mode of production

A

Mop determines general characteristics of social, political, and spiritual processes in life

41
Q

What did Marx recognize capitalism as?

A

As an economic system that revolutionized the production process

SOC 105 Final (6 decks)

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