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UCSP - Economic Institutions Cheat Sheet by

Unlock the essentials: Economic Institutions, Reciprocity, Transfers, Redistribution, Market Transactions, Markets, and States. Your cheat sheet to navigate the interconnected realms of economics, anthropology, and governance.


provides the distri­bution of goods and services to the members of the society
five parts are essential for the economic system to function accurately
production system, a service system, distri­bution system, consumers system and a system of exchange


refers to the non-market exchange of goods or labor ranging from direct barter (immediate exchange) to forms of gift exchange where a return is eventually expected (delayed exchange)
distinct from the true gift, where no return is expected
some forms of recipr­ocity can establish hierarchy if the debt is not repaid


A change of ownership of an asset or a movement of funds and/or assets from one account to another
may involve an exchange of funds when it involves a change in ownership
may also refer to the movement of an account from one bank or brokerage to another
transfer of funds from one account to another, where both accounts are held by the same indivi­dual, may occur for purposes of financial planning or better investment returns


refers to a system of economic exchange involving the centra­lized collection of goods from members of a group followed by the distri­bution of those goods among those members
form of recipr­ocity


exchange of goods and services through a market
provide the basic data used at the National Economic Develo­pment Authority to begin the estimation of GDP


An actual or nominal place where forces of demand and supply operate, and where buyers and sellers interact (directly or through interm­edi­aries) to trade goods, services, or contracts or instru­ments, for money or barter
(1) commun­icating the price inform­ation
(2) determ­ining price of the traded item
(3) facili­tating deals and transa­ctions
(4) affecting distri­bution
market for a particular item is made up of existing and potential customers who need it and have the ability and willin­gness to pay for it
one of the many varieties of systems, instit­utions, proced­ures, social relations and infras­tru­ctures whereby parties engage in exchange
most markets rely on sellers offering their goods or services (including labor) in exchange for money
facilitate trade and enable the distri­bution and allocation of resources
allow any tradeable item to be evaluated and priced
there are various other types of markets and various organi­zat­ional structures to assist their functions, the nature of business transa­ctions could be used to define different markets


organized political community living under a single system of government
refer to an organized political group that exercises authority over a particular territory
may or may not be sovereign
For example, federated states that are members of a federal union have only partial sovere­ignty, but are, noneth­eless, states
Some states are subject to external sovere­ignty or hegemony where ultimate sovere­ignty lies in another state
also refer to the secular branches of government within a state
The first states arose about 5,500 years ago in conjun­ction with the rapid growth of urban centers, the invention of writing, and the codifi­cation of new forms of religion
Over time a variety of different forms developed, employing a variety of justif­ica­tions for their existence (such as divine right, the theory of the social contract, etc.)
In the 21st century the modern nation­-state is the predom­inant form of state to which people are subject


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