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Chapter 18 Work And The Economy

Chapter 18 Work And The Economy. Key Terms. economy The system by which goods and services are produced, distributed and consumed. capitalism Economic system based on market competition, private property and pursuit of profit.

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Chapter 18 Work And The Economy

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  1. Chapter 18Work And The Economy Key Terms

  2. economyThe system by which goods and services are produced, distributed and consumed. • capitalismEconomic system based on market competition, private property and pursuit of profit.

  3. socialismEconomic system characterized by state ownership and management of basic industries. • communismEconomic system where the state is the sole owner of the systems of production.

  4. global economyAcknowledges that all dimensions of the economy now cross national borders. • xenophobiaThe fear and hatred of foreigners.

  5. economic restructuringRefers to the contemporary transformations in the basic structure of work that are permanently altering the workplace. • deindustrializationInvolves the decline in the number of jobs in the manufacturing sector, segmentation of the service sector into service delivery and information processing, and job displacement.

  6. job displacementThe permanent loss of certain job types that occurs when employment patterns shift.  • mismatch theoryAn argument that group disadvantage in the labor market results from the combination of residential segregation in center cities and the movement of jobs to suburban areas.

  7. automationThe replacement of human labor by machines. • contingent workersThose who do not hold jobs but whose employment is dependent on demand.

  8. workProductive human activity that creates something of value. • emotional laborWork that is specifically intended to produce a desired state of mind in a client.

  9. unemployment rates Percentage of those not working but officially defined as looking for work. • UnderemploymentThe condition of being employed at a level below what would be expected given a person's training, experience, or education.

  10. dual labor market theory Views the labor market as comprising two major segments the primary labor market and secondary labor market. • occupational distributionDescribes the pattern by which workers are located in the labor force.

  11. occupational segregationRefers to the separation of workers into different occupations on the basis of social characteristics such as race and gender. • occupational prestigeThe perceived social value of an occupation in the eyes of the general public.

  12. glass ceilingRefers to the limits that women and minorities experience in job mobility. • sexual harassmentDefined as unwanted physical or verbal sexual behavior that occurs in the context of a relationship of unequal power and that is experienced as a threat to the victim's job or educational activities.

  13. alienationA feeling of powerlessness and separation from one's group or society. 

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