After you have read this chapter, you will be able to:

6.1 Define economics, describe economizing behavior, and give examples of situations when people use economizing behavior and when they do not

6.2 Summarize the ways in which people in foraging, pastoral, horticultural, and agricultural societies generally allocate resources

6.3 Differentiate between generalized, balanced, and negative reciprocity and give an example of each

6.4 Discuss the differences between redistribution and reciprocity using the examples of the potlatch and kula trade

6.5 Define market exchange and analyze the ways in which it differs from other systems of distribution

6.6 Summarize the key characteristics of capitalism

6.7 Describe the ways in which people in wealthy nations both participate in and resist capitalism and debate the advantages of each of these actions