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23 Cards in this Set

  • Front
  • Back
state
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
nation
A group of people who share the same race, language, customs traditions and sometimes religion
nation-state
A country in which the territory of both the nation and the state coincide
consensus
An agreement about basic beliefs
sovereignty
The supreme and absolute authority within the territorial boundaries
government
The institution through which the state maintains social order, provides public service, and enforces binding decisions on citizens
social contract
The theory that people surrender to the state the power needed to maintain order, and the state, in turn, agrees to protect its citizen
economics
The study of human efforts to satisfy seemingly unlimited wants through the use of limited resources
capitalism
An economic system providing free choice and individual incentive for workers, investors, consumers and business enterprises.
Free Market
An economic system in which buyers and seller make free choices in the marketplace
laissez-faire
The philosphy that government should keep its hands off the economy
socialism
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.
bourgeoisie
Capitailists who own the means of production
proletariat
workers who provide the labor to produce the goods
communism
An economic system in which the central government directs all major economic decisions
command economy
An economic system in which the government controls the factors of production
autocracy
A system of government in which the power to rule is in the hands of a single individual
monarchy
An autocracy in which a king, queen, or emperor exercises supreme powers of government
oligarchy
A system of government in which a small group holds power
democracy
A government in which the people rule
republic
A government in which voters hold a sovereign power; elected representatives, responsible to the people, exercise that power
political party
A group of individuals with broad common interests who organize to nominate candidates for office, win elections, conduct government, and determine public policy
free enterprise
A system in which individuals have the opportunity to make their own economic decisions