1. Political Economy
    the political, economic, legal systems of a country
  2. Political System
    system of gov't in a nation
  3. Collectivism
    emphasizes the group's goals over individual goals
  4. Socialist
    someone who believes in public ownership of the means of production for the common good of society
  5. Communist
    those who believe socialism can be achieved only through revolution and totalitarian dictarships
  6. Socialism
    a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
  7. Social Democrats
    those who are committed to achieving socialism by democratic means
  8. Privatizations
    the sale of state owned enterprises to private investors
  9. individualism
    an emphasis on the importance of guaranteeing individual freedom and self expression
  10. Democracy
    political system in which government is by the people, exercised either directly or through elected representatives
  11. Totalitarianism
    one person or political party exercises absolute control over all aspects of human life and opposing parties are prohibited
  12. Representative Democracy
    citizens periodically elect individuals to represent them in government
  13. Theocratic Totalitarism
    political power is monopolized by a party or group or individual that governs according to religious beliefs
  14. Tribal Totalitarism
    a party, group, or individual that represents the interest of a particular tribe monopolizes political power
  15. Right-Wing Totalitarism
    political power is monopolized by a party, group, or individual that generally permits individual economic freedom, but restricts individual political freedom; including free speech, often on the grounds that it would lead to rise of communism
  16. market economy
    economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced
  17. Command Economy
    an economic system where the allocation of resources, including determination of what goods and services should be produced and quantities is planned by GOV'T
  18. Legal System
    system of rules that regulate behavior and the process by which the law of a country are enforced and how remedies for grievances are collected
  19. Common Law
    system of law based on tradition, precedent and customs.
  20. Civil Law
    system of law based on a very detailed set of written laws and codes
  21. Theocratic Law System
    system of law based on religious teachings
  22. Contract
    a document that specifies the conditions of an exchange and details the rights and obligations of parties
  23. Contract Law
    body of law that governs contract enforcement
  24. United Nations Convention on Contracts for International Sale of Goods (CIGS)
    set of rules governing certain aspects of the making and performance of commercial contracts  between sellers and buyers who have their places of business in different countries
  25. Property Rights
    bundle of legal rights over the use to which a resource is put and over the use made of any income that my be derived from that resources
  26. Private Action
    theft, piracy, blackmail, the like by private individuals
  27. Public Action
    extortion of income or resources of property holders by politicians(GOV'T officials)
  28. Foreign Corrupt Practices Act
    US law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions
  29. Intellectual Property
    products of the mind, ideas, music, design
  30. Patents
    grant the inventor of a new product or process exclusive rights to manufacture, use or sale of that invention
  31. Copyrights
    exclusive legal rights of authors, composers, playwright, artists, and publishers to publish and disperse their work as they see fit
  32. Trademark
    designs and names often officially registered, by merchants or manufactures to differentiate their products
  33. World Intellectual Property Organization
    international org. whose member sign treaties to agree to protect intellectual properties
  34. Paris Convention for the Protection of Industrial Property
    International agreement to protect intellectual property
  35. Product Safety Laws
    set certain safety standards to which a product must adhere
  36. Product Liability
    involving holding a firm and its officers responsible when a product causes injury, death, damage
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