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23 Cards in this Set
- Front
- Back
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state
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A political community that occupies a definite territory and has an organized government with the power to make and enforce laws without approval from any higher authority
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nation
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A group of people who share the same race, language, customs traditions and sometimes religion
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nation-state
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A country in which the territory of both the nation and the state coincide
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consensus
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An agreement about basic beliefs
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sovereignty
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The supreme and absolute authority within the territorial boundaries
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government
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The institution through which the state maintains social order, provides public service, and enforces binding decisions on citizens
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social contract
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The theory that people surrender to the state the power needed to maintain order, and the state, in turn, agrees to protect its citizen
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economics
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The study of human efforts to satisfy seemingly unlimited wants through the use of limited resources
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capitalism
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An economic system providing free choice and individual incentive for workers, investors, consumers and business enterprises.
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Free Market
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An economic system in which buyers and seller make free choices in the marketplace
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laissez-faire
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The philosphy that government should keep its hands off the economy
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socialism
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An economic system in which the government owns the basic means of production, distributes products and wages and provided social services such as health care and welfare.
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bourgeoisie
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Capitailists who own the means of production
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proletariat
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workers who provide the labor to produce the goods
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communism
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An economic system in which the central government directs all major economic decisions
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command economy
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An economic system in which the government controls the factors of production
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autocracy
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A system of government in which the power to rule is in the hands of a single individual
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monarchy
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An autocracy in which a king, queen, or emperor exercises supreme powers of government
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oligarchy
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A system of government in which a small group holds power
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democracy
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A government in which the people rule
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republic
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A government in which voters hold a sovereign power; elected representatives, responsible to the people, exercise that power
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political party
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A group of individuals with broad common interests who organize to nominate candidates for office, win elections, conduct government, and determine public policy
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free enterprise
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A system in which individuals have the opportunity to make their own economic decisions
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