Provide a sociological definition of economy, goods, and services.
Describe the history of economic changes over time, including the dawning of the agricultural revolution, the shift to industrialization, and the emergence of a post-industrial, information-based economy.
Compare and contrast capitalism, socialism and communism as economic systems, and provide examples of each.
Discuss the strengths and weaknesses of each economic system: capitalism, socialism, and communism.
Explain the difference between the formal and informal economy and provide an example of how an individual might operate in each.
Demonstrate a sociological understanding of various economic shifts and trends, such as outsourcing, wage stagnation, globalization, and the creation of “green” economies.
