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Economic institutions are the organized systems through which societies produce, distribute, exchange, and consume goods and services to satisfy human needs. In social and cultural anthropology, economic activities are not viewed merely as financial transactions but as social and cultural processes deeply influenced by traditions, beliefs, kinship, religion, and political organization. Consumption, production, and exchange are the three major components of economic institutions, and together they shape the economic life of every society. Production refers to the process by which people use available resources, labor, knowledge, and technology to create goods and services. Anthropologists study production not only in terms of output but also in relation to social organization. Different societies adopt different modes of production depending on their environment and level of technological development. Hunting and gathering societies rely on natural resources and simple tools. Pastoral societies produce wealth through livestock rearing, while horticultural and agricultural societies depend on cultivation of crops. Industrial societies use advanced technology, machinery, and specialized labor to increase productivity. Production is influenced by factors such as land ownership, division of labor, gender roles, ____ ____ _____ ________ ______ ____ _______ _________ __________ _______ ___ __________.
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