Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
32 Cards in this Set
- Front
- Back
|
political economy |
the political, economic, and legal systems of a country are interdependent; they interact and influence each other and in doing so they affect the level of economic well being |
|
|
political system |
the system of government in a nation |
|
|
collectivism |
refers to a political system that stresses the primacy of collective goals over individual goals |
|
|
socialists |
trace their intellectual roots to Karl Marx |
|
|
communists |
believe that socialism could be achieved only through violent revolution and totalitarian dictatorship |
|
|
social democrats |
committed themselves to achieving socialism by democratic means turning their backs on violent revolution and dictatorship |
|
|
privitization |
parties selling state owned enterprises to private investors |
|
|
individualism |
refers to a philosophy that an individual should have freedom in his or her economic and political pursuits |
|
|
democracy |
refers to a political system in which government is by the people, excised either directly or through elected representatives |
|
|
totalitarianism |
form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties |
|
|
representative democracy |
citizens periodically elect individuals to represent them |
|
|
totalitarian country |
all constitutional guarantees on which representative democracies are built are denied to the citizens |
|
|
communist totalitarianism |
most widespread form of totalitarianism |
|
|
theocratic totalitarianism |
found in states where political power is monopolized by a party, group, or individual that governs according to religious principles |
|
|
tribal totalitarianism |
has arisen from time to time in african countries |
|
|
right wing totalitarianism |
permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to a rise of communism. |
|
|
market economy |
all productive activities are privately owned, as opposed to being owned by the state |
|
|
command economy |
the government plans the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold |
|
|
legal system |
a country refers to the rules, or laws, that regulate behavior along with the processes by which the laws are enforced and through which redress for grievances is obtained |
|
|
common law |
based on tradition, precedent, and custom |
|
|
civil law system |
based on a detailed set of laws organized into codes |
|
|
theocratic law system |
one in which the law is based on religious teachings |
|
|
contract |
a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved |
|
|
contract law |
the body of law that governs contract enforcement |
|
|
property rights |
refer to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource |
|
|
private action |
refers to theft, piracy, blackmail, and the like by private individuals or groups |
|
|
public action |
violate property rights occurs when public officials, such as politicians and government bureaucrats, extort income, resources, or the property itself from property holders |
|
|
foreign corrupt practices act |
passed after US companies had bribed government officials in foreign countries in an attempt to win lucrative contracts |
|
|
intellectual property |
property that is the product of intellectual activity, such as computer software, a screenplay, a music score, or the chemical formula for a new drug |
|
|
patent |
grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention |
|
|
copyrights |
exclusive rights of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit |
|
|
trademarks |
designs and names, officially registered, by which merchants or manufacturers designate and differentiate their products |
