1. The function of an economic institution is to organize and facilitate the production, allocation, and distribution of goods and services within a society or an economy. It sets the rules, regulations, and mechanisms through which economic activities are conducted, such as establishing property rights, enforcing contracts, providing financial services, and regulating markets.
2. In hunter-gatherer societies, the division of labor is relatively simple, with individuals collectively performing various tasks necessary for survival, such as hunting, gathering, and shelter-building. As societies develop and transition to agrarian, industrial, and eventually post-industrial societies, the division of labor becomes more complex. Specialization emerges, where individuals and groups focus on specific occupations or industries, leading to a more sophisticated and interconnected system of production.
This complexity is driven by advances in technology, increased population size, and the need for efficiency and economic growth. As societies progress, specialized professions and occupations emerge, such as farmers, artisans, merchants, and eventually a wide range of specialized jobs in the post-industrial era, such as software developers or financial analysts.
The impact of the division of labor on solidarity varies depending on the type of society. In hunter-gatherer societies, where there is a higher degree of interdependence and communal sharing, solidarity is based on collective survival goals and is usually stronger. However, as societies develop and become more complex, the division of labor can lead to a decrease in social solidarity.
In post-industrial societies, for example, people may become more individualistic, focused on their own specialized roles and occupations, and less connected to the broader community. This can lead to a decline in social cohesion, as people are more disconnected from each other and have less shared experiences and goals. On the other hand, the division of labor can also foster solidarity through the creation of diverse social networks and interdependence between individuals and groups who rely on each other's specialized skills and services.
1. What is the function of the economic institution???
2. Briefly discuss how thd division of labour becomes more complex as societies develop from hunter-gather societies to post-industrial societies . Briefly mention how the division pf labour impacta solidarity.
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