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15 Cards in this Set

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  • Back
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Nation
A population sharing a similar identity, not necessarily defined by geography.
Nation-State
Both geographically defined territory (and political system) and a common national identity. Today the world primarly consists of nation-states, however, this was not always the case.
Internal Sovereignty
Is the right to determine matters having to do with the population of the territory. (e.g. taxation).
External Sovereignty
Is the right to conclude binding agreements with other states. In other words, the state is recognized as an independent and legal political system by other states.
Constitutions
Maintain the rule of the law, often ensuring political power isn't heavily concentrated in one group/actor.
Define the political institutions of the country, as well as the powers of each institution.
The Market
The interaction between forces of supply and demand, as well as how resources are allocated through this interation.
Markets tend to arrise whenever there is a demand for a particular good, resource, or service. Gov'ts cannot easily control the development of markets, although they oftern attemp to. (e.g. illegal drugs)
Inflation
Rising prices and the devaluing of currency. Results from an imbalance of suppy and demand where there is too much currency and too few goods/services.
Hyperinflation
Inflation that is more than 50% a month for more than two months in a row.
Stagflation
Both high inflation and high unemployment
Monopolies
A single producer that is able to dominate the market for a certain type of product or service. The absence of competition can lead to inferior goods or services and increased prices.
Microsoft
Cartels
A group of producers who coordinate to dominate the market for a certain type of product or service.
Oil Industry, Tony Montana
Legitimacy
A value whereby an institution (in this case, the government as a whole) is accepted by the public as right and proper. Authoritarian regimes sometimes maintain legitimacy among the population.
Three types-
-traditional/hereditary
-Charismatic
-Rational/Legal

Traditional/Hereditary Legitimacy
The political system is legitimate because it reflects the tradition of society and has been in place for a long time.
Charismatic Legitimacy
Rests on the power of ideas, often embodied in one individual. Tends to die with the individual.
Adolp Hitler, Bill Clinton
Rational/Legal Legitimacy
Based on a system of institutionalized laws and procedures.