W6-2)Introduction to Sociology/Economy - 2023086671 Minjoo Kim (김민주)

 1) Summarize

The economy is the end result of all inclusive processes of production, exchange, and distribution of goods and services. The economy, which started at the level of living, grew together as society grew. Industrial capitalism emerged with the development of commerce. The Great Depression of the 1930s led some scholars to argue for the decline and extinction of capitalism.

2) Interesting point 

It was impressive that individuals do not exist only in one role in an economic society, but also participate in the economy as consumers, workers, and investors, providing both money and labor.


3) Question

What role are you contributing the most to in the economic society? And why do you think so?

Comments

  1. 한우진June 22, 2023 at 11:00 AM

    The economy is a major factor in promoting the development and growth of a country or region. Economic activities increase national income and industrial productivity through production, investment, and consumption, and achieve economic growth. This will create jobs, provide economic opportunities, and strengthen the nation's economic power. The economy is responsible for allocating finite resources efficiently and improving productivity. Economic systems balance production and consumption through efficient distribution of resources, and create more value through increased productivity. The economy is also a means of distributing income. The income generated from economic performance is distributed among different classes within society, promoting economic opportunities and social inclusion. This plays a role in alleviating social inequality and reducing economic discrimination. The economy promotes innovation and technological development. Economic systems improve existing methods and production structures and promote innovation through competition and creative destruction. This leads to new industries and technologies, economic development and social change.

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