UCSP

• Bands and tribes both practice egalitarian
• Chiefdom - the chief's authority serves to unite his people in all affairs and at all times
• Nation - people who share collective identity based on a common culture, language, territorial base, and history
• Education - knowledge produced in educational institutions is equally valuable to all members of society
• Informal Education - acquires attitudes, skills, values, and knowledge through every day experiences
• Knowledge Generation - organized transmission of a culture's knowledge, skills, and values from one generation to another
• Economic institutions - is rooted in the problem of scarcity. The needs and wants are unlimited but the sources to satisfy the needs and wants are limited
• Welfare state - could emerge from the socialist and the capitalists systems.
• Authority - refers to the right to command or the power to give orders or enforce rules
• Bands - nomadic societies
• Legitimacy - value whereby something or someone is acknowledge as acceptable, lawful, right or proper
• Charismatic Legitimacy - springs from the persona charisma or inspiring ideas of the leader, a person whose imposing personality attracts and influences people to agreement with his government's regime and rule
• Traditional Legitimacy - explains that a governing power must continue to rule as it is historically accepted and the society has always been ruled by such a government
• Rational-Legal Legitimacy - popular acceptance of authority derives from a system of institutional processes, in which government institutions launch and impose law and order in accordance to the public interest
• Monopoly - exact opposite form of market system as perfect competition. There is only one producer of a particular good or service, and generally no reasonable substitute

  • Example: Google, Facebook, Amazon
• Perfect Competition - market system characterized by many different buyers and sellers

  • Example: Coffee, Brown sugars
• Oligopoly - similar in many ways to monopoly. Primary difference is that rather than having only one producer of a good and service, there are handful of producers, or at least a handful of producers that make up a dominant majority of market system

  • Example: Barber shops, hair salon
• Monopolistic competition - type of market system combining elements of a monopoly and a perfect competition

  • Example: Railways, highways
• Reciprocity - chain of receiving, pain and repaying goods and services.
• In cultural anthropology, reciprocity refers to the non-market exchange of goods and labor ranging from direct barter (immediate exchange) to forms of gift exchange where a return is eventually expected (delayed exchange) as in the exchange of birthday gifts
• Loans - money advanced to a business with an interest change that must be paid and returned at some point in the future
• International Organizations - organization with an international membership, scope or presence.
• International Organizations - Established by a treaty or other instrument governed by international law and possessing its own international legal personality

  • Examples: United nations, World Health Organization and NATO
• 5 types of cooperatives:

  • Credit Cooperative
  • Consumer Cooperative
  • Producers Cooperative
  • Marketing Cooperative
  • Multi-purpose Cooperative
• 8 Goal and Function of Education

  1. Socialization
  2. Cultural Transmission
  3. Selection and Allocation to adult positions
  4. Knowledge Generation
  5. Political and Social Integration
  6. Selecting Talent
  7. Teaching skills
  8. Innovation
• Effects of schooling on Individuals

  • Knowledge and Attitude
  • Getting a job
  • Education and income
  • Education and mobility
• Types of Banks

  • Commercial/Retail Banks
  • Investment Banks