In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur. The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods".
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour. The theory postulates that an individual will perform a cost-benefit analysis to determine whether an option is right for them. It also suggests that an individual's self-driven rational actions will help better the overall economy. Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand.
A society is a group of individuals involved in persistent social interaction, or a large social group sharing the same spatial or social territory, typically subject to the same political authority and dominant cultural expectations. Societies are characterized by patterns of relationships between individuals who share a distinctive culture and institutions; a given society may be described as the sum total of such relationships among its constituent of members. In the social sciences, a larger society often exhibits stratification or dominance patterns in subgroups.
Social capital is "the networks of relationships among people who live and work in a particular society, enabling that society to function effectively". It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity. Social capital is a measure of the value of resources, both tangible and intangible, and the impact that these relationships have on the resources involved in each relationship, and on larger groups. It is generally seen as a form of capital that produces public goods for a common purpose.
In the social sciences, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods, or services of a communal nature do not pay for them or under-pay. Free riders are a problem because while not paying for the good, they may continue to access or use it. Thus, the good may be under-produced, overused or degraded. Additionally, it has been shown that despite evidence that people tend to be cooperative by nature, the presence of free-riders cause this prosocial behaviour to deteriorate, perpetuating the free-rider problem. Public goods, which are non-excludable and non-rival are often victim to the free-rider problem.
A shareholder of a corporation is an individual or legal entity that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself.
In economics, a public good is a good that is both non-excludable and non-rivalrous. For such goods, users cannot be barred from accessing or using them for failing to pay for them. Also, use by one person neither prevents access of other people nor does it reduce availability to others. Therefore, the good can be used simultaneously by more than one person. This is in contrast to a common good, such as wild fish stocks in the ocean, which is non-excludable but rivalrous to a certain degree. If too many fish were harvested, the stocks would deplete, limiting the access of fish for others. A public good must be valuable to more than one user, otherwise, the fact that it can be used simultaneously by more than one person would be economically irrelevant. Wikipedia is a good example of a public good.
Land reform is a form of agrarian reform involving the changing of laws, regulations, or customs regarding land ownership. Land reform may consist of a government-initiated or government-backed property redistribution, generally of agricultural land. Land reform can, therefore, refer to transfer of ownership from the more powerful to the less powerful, such as from a relatively small number of wealthy or noble owners with extensive land holdings to individual ownership by those who work the land. Such transfers of ownership may be with or without compensation; compensation may vary from token amounts to the full value of the land.
Ownership is the state or fact of exclusive rights and control over property, which may be any asset, including an object, land or real estate, intellectual property, or until the nineteenth century, human beings. Ownership involves multiple rights, collectively referred to as title, which may be separated and held by different parties.
In philosophy, economics, and political science, the common good refers to either what is shared and beneficial for all or most members of a given community, or alternatively, what is achieved by citizenship, collective action, and active participation in the realm of politics and public service. The concept of the common good differs significantly among philosophical doctrines. Early conceptions of the common good were set out by Ancient Greek philosophers, including Aristotle and Plato. One understanding of the common good rooted in Aristotle's philosophy remains in common usage today, referring to what one contemporary scholar calls the "good proper to, and attainable only by, the community, yet individually shared by its members."
Rebellion, uprising, or insurrection is a refusal of obedience or order. It refers to the open resistance against the orders of an established authority.
A herd is a social group of certain animals of the same species, either wild or domestic. The form of collective animal behavior associated with this is called herding.
Taxation in France is determined by the yearly budget vote by the French Parliament, which determines which kinds of taxes can be levied and which rates can be applied.
Sexual capital or erotic capital is the social power an individual or group accrues as a result of their sexual attractiveness and social charm. It enables social mobility independent of class origin because sexual capital is convertible and may be useful in acquiring other forms of capital, including social capital and economic capital.
A collective action problem or social dilemma is a situation in which all individuals would be better off cooperating but fail to do so because of conflicting interests between individuals that discourage joint action. The collective action problem has been addressed in political philosophy for centuries, but was most clearly established in 1965 in Mancur Olson's The Logic of Collective Action.
Collective animal behavior is a form of social behavior involving the coordinated behavior of large groups of similar animals as well as emergent properties of these groups. This can include the costs and benefits of group membership, the transfer of information, decision-making process, locomotion and synchronization of the group. Studying the principles of collective animal behavior has relevance to human engineering problems through the philosophy of biomimetics. For instance, determining the rules by which an individual animal navigates relative to its neighbors in a group can lead to advances in the deployment and control of groups of swimming or flying micro-robots such as UAVs.
Collective ownership is the ownership of means of production by all members of a group for the benefit of all its members. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise. In the latter (narrower) sense the term is distinguished from common ownership and the commons, which implies open-access, the holding of assets in common, and the negation of ownership as such.
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:
Empowered democracy is a form of social-democratic arrangements developed by Brazilian philosopher and politician Roberto Mangabeira Unger, whom first published his theories in 1987. Theorized in response to the repressiveness and rigidity of contemporary liberal democratic society, the theory of empowered democracy envisions a more open and more plastic set of social institutions through which individuals and groups can interact, propose change, and effectively empower themselves to transform social, economic, and political structures. The key strategy is to combine freedom of commerce and governance at the local level with the ability of political parties at the central level to promote radical social experiments that would bring about decisive change in social and political institutions.
A social network is a social structure made up of a set of social actors, sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for analyzing the structure of whole social entities as well as a variety of theories explaining the patterns observed in these structures. The study of these structures uses social network analysis to identify local and global patterns, locate influential entities, and examine network dynamics.
