Lecture One Exam 2 - OUTLINE A. WHAT ARE ECONOMIC...

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OUTLINE                                                                                                         Lecture One Exam 2       A. WHAT ARE ECONOMIC INSTITUTIONS?   B. ECONOMIC SYSTEMS IN THE WORLD:   1. CAPITALISM 2. WELFARISM 3. SOCIALISM What is the difference between the above three?   C. THE GLOBAL ECONOMY IN TRANSITION D. INTERNATIONAL TRADE AND THEORETICAL DISCUSSION E. HEGEMONY  F. EVOLUTION OF THE WORLD ECONOMIC SYSTEMS  A. WHAT ARE ECONOMIC INSTITUTIONS?   SOCIAL ORGANIZATION OF PRODUCTION, DISTRIBUTION, AND  CONSUMPTION OF GOODS AND SERVICES IN A SOCIETY A well off economy will have access to all three   C PRODUCTION OF GOODS - How  things are produced. - Always tied with the consumer. You produce things keeping in mind your  consumer. Ex. shoemaker compared to today’s process of making shoes.  C DISTRIBUTION - what  is being produced -can be national or international. - A place of production such as factory or farm. The producer and the  consumer have to be linked by things such as a railroad, plane or water.  C CONSUMPTION - who  are you producing for (age, education, values, traditions, social  status, and the environment, rural or urban?)
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  B. ECONOMIC SYSTEMS IN THE WORLD   1. CAPITALISM - means of production are owned by individuals - everything is by profit, you produce things to make money.
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This note was uploaded on 03/30/2008 for the course ISS 315 taught by Professor Hussain during the Spring '08 term at Michigan State University.

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Lecture One Exam 2 - OUTLINE A. WHAT ARE ECONOMIC...

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