Ensayo

Alexis Flores Cano
A01203780
Final Project
1. Simple society: is when the economy system is so small and only is between a reduced numbers of people.
2. Complex society: Is a social formation with an economic system more complex and with better strategy of getting money.
3. Three questions: what/how/ for whom: What and how many goods and services will the economy decide to produce?How will the goods and services be produced? For whom will the goods and services be produced?
4. Factors of production: A) capital/ B) land/C) labor: A) this is an instrument of production used in the furthering of the production process. It can be as simple as a drill press or as complex as a steel mill.
a. B) Consist of natural resources and is the factor of production from whichgoods originate.
b. C) It involves human effort in the production process.
5. Subculture / Counterculture: a group of people with a culture (whether distinct or hidden) which differentiates them from the larger culture to which they belong, for example, if a particular subculture is characterized by a systematic opposition to the dominant culture, it may be described as acounterculture. / A culture, especially of young people, with values or lifestyles in opposition to those of the established culture.
6. Microeconomics / Macroeconomics: The study of the individual pieces that together make an economy. Contrast with macroeconomics, the study of economy-wide phenomena such as growth, inflation and unemployment. Microeconomics considers issues such as how households reachdecisions about consumption and saving, how firms set a price for their output, whether privatization improves efficiency, whether a particular market has enough competition in it and how the market for labor works. / The big picture: analyzing economy-wide phenomena such as growth, Inflation and unemployment. Contrast with microeconomics, the study of the behavior of individual markets, workers,households and firms. Although economists generally separate themselves into distinct macro and micro camps, macroeconomic phenomena are the product of all the microeconomic activity in an economy. The precise relationship between macro and micro is not particularly well understood, which has often made it difficult for a government to deliver well-run macroeconomic policy.
7. Entrepreneur /Production: The life and soul of the capitalist party. Somebody who has the idea and enterprise to mix together the other factors production to produce something valuable. An entrepreneur must be willing to take a risk in pursuit of a profit. / Outline of industrial organization, the act of making products (goods and services)
8. GDP / GNP: Gross domestic product, a measure of economic activity ina country. It is calculated by adding the total value of a country's annual output of goods and services. GDP = private consumption + investment + public spending + the change in inventories + (exports - imports). It is usually valued at market prices; by subtracting indirect tax and adding any government subsidy, however, GDP can be calculated at factor cost. This measure more accurately revealsthe income paid to factors of production. Adding income earned by domestic residents from their investments abroad, and subtracting income paid from the country to investors abroad, gives the country's gross national product (GNP). / Short for gross national product, another measure of a country's economic performance. It is calculated by adding to GDP the income earned by residents frominvestments abroad, less the corresponding income sent home by foreigners who are living in the country.
9. History: research, information, narration of human facts; research process based on human past in society.
10. Anthropology: The social science that studies the natural origins and social relationship of human beings.
11. Psychology: Social science devoted to the systematic examination...