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15 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Nation
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A population sharing a similar identity, not necessarily defined by geography.
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Nation-State
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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.
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Internal Sovereignty
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Is the right to determine matters having to do with the population of the territory. (e.g. taxation).
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External Sovereignty
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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.
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Constitutions
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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. |
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The Market
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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) |
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Inflation
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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.
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Hyperinflation
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Inflation that is more than 50% a month for more than two months in a row.
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Stagflation
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Both high inflation and high unemployment
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Monopolies
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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.
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Microsoft
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Cartels
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A group of producers who coordinate to dominate the market for a certain type of product or service.
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Oil Industry, Tony Montana
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Legitimacy
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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.
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Three types-
-traditional/hereditary -Charismatic -Rational/Legal |
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Traditional/Hereditary Legitimacy
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The political system is legitimate because it reflects the tradition of society and has been in place for a long time.
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Charismatic Legitimacy
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Rests on the power of ideas, often embodied in one individual. Tends to die with the individual.
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Adolp Hitler, Bill Clinton
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Rational/Legal Legitimacy
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Based on a system of institutionalized laws and procedures.
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