The definition of economy can be described as the process or system by which goods and services are produced, sold and bought in a country or region (merriam-webster.com). Emile Durkheim presented social institutions as a way of showing people the sociological theory of functionalism. Through functionalism he believed that the world revolves around providing society with the basic needs to fulfill people's lives. Social institutions are very significant in our everyday lives because we use each and every one of them everyday. With the social institution of economy it allows people to produce and distribute goods and services through a network of credit unions, banks, credit card companies, and buying clubs (Henslin 101). Without the use of economy making money, paying bills on time and producing an efficient way to maximize profits and control the rise and fall of currency values. Just think about it everyday you use money whether it's for food, wants , or needs. Without money people would not be able function, you would not be able to buy and sell goods for the need of your family. This is the reason without economy as a social institution the world would not revolve. So next time you use money think about how much it really means, and how much balance it really does provide everyday.
Henslin, James M.
Sociology: A Down-to-earth Approach. 12th ed. Upper Saddle River, NJ: Pearson Education, 2011. Print.
"Economy-Definition of Economy."
Merriam-Webster. Merriam-Webster, n.d. Web. 12 Dec. 2015.
URL: http://www.merriam-webster.com/dictionary/economy
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