Market economy

Market economy - obligations Characterized by kinship and...

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Market economy: A system based on the division of labor( so, laborer, bosses) in which the prices of goods and services are set in a free system by supply and demand Characterized by the use of money Creates a social gap between bosses and workers Traditional Economy: A system based on the exchange of labor, and characterized by social
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Unformatted text preview: obligations Characterized by kinship and moral obligations May also use money (so NOT simply barter) Adaptive Straegies/Livelihoods Foraging Horticulture (amsll scale agriculture) Agriculture Pastoralism- herders...
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