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| the choices people make that they believe will provide the greatest benefit to them. |
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| is embedded in the social process; production is carried out in families and communities, and distribution, exchange, and consumption have social and political functions. |
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| involves mutual giving and receiving among people of equal status in which there is (1) no need for immediate return, (2) no systematic calculation of the value of the services and products exchanged, and (3) an overt denial that a balance must come out even. |
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| involves the expectation that goods and services of equivalent value will be returned within a specified period of time. |
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| is a system of exchange in the Trobriand Islands, where trading partners from different islands take risky voyages to exchange shell ornaments around the ring of islands; white cowrie shell armbands are traded in a counterclockwise direction, and red shell necklaces are traded clockwise. |
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| involves the accumulation of large amounts of labor products produced by different individuals in a central place where they are sorted and counted and then given away to producers and nonproducers alike. |
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| In stratified redistribution, |
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| the workers must contribute to the central pool or suffer penalties, and they may not get back anything. |
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| involve specification of a precise time, quantity, and type of payment, and the participants' main concern is maximizing financial gain. |
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| a medium of exchange that has standard value. It is used as a means of payment for goods and services in a wide range of transactions where trade is well developed and economizing is a guiding principle. Money has the following characteristics: portability, divisibility, generality, anonymity, and legality. |
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| is also associated with a change from production for use value to production for profit value. |
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| is an amount greater that what is needed for immediate consumption by the producers. |
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