43617760. There Are Many Ways That Groups Of People Allocate

43617760 There are many ways that groups of people allocate goods. The most common way to do this in modern culture is through a market. Markets, as Carruthers and Babb describe it in chapter 1, are the particular supply and demand of any given good or service that are exchanged for a value of money with certain given information. As Wright and Best describe in chapter 3, this way of organizing an economy allows for an effective way to step up an economy. Additionally, it gives the maximum freedom to buy and sell as one pleases. Such markets can take place in any number of forms and are influenced by society’s expectations, religious practices, politics, our relationships with those around us, and many other ways. As was noted in†¦show more content†¦Whether through their spending policies, taxing policies or lack there of, or days that are considered holidays the state has great influence. These can sometimes can be seen as a harmful set of actions, but as Band elj and Sowers point out in chapter one these acts by the state have a real importance to how the economy works. The state as noted above takes an important role in managing things that are not natural. Without the government to regulate these things we not be able to sustain these now vital and constructive institutions. This state interference in the market, good or bad, has a profound effect on parts that ripple into the whole of the market. This relationship in the market is on grand scale, but the social institutional relationship does not always have to be. The relationships that we have with particular people also greatly affect how we interact with the market. Particularly in regards to cultural and societal expectations. When someone goes to college they are expected to get a MacBook for school from their family as a parting gift. When someone gets a big promotion they buy a new car or sometimes even a new house to show as a visible announcement that they have improved their life. Society expects, as one improves their status, to improve their possessions and interact with the market in more significant ways. Sometimes though we can be influenced to