Chapter 2 Flashcards
(25 cards)
What is the collectivist idea?
Primary goal is to promote the common good
What is the Individualism idea?
Focused on individual rights and freedoms
What do socialists believe in?
those who believe in public ownership of the means of production for the
common good of society. (state ownership)
What do communists believe in?
Believed socialism could only be achieved though violent revolution and
totalitarian dictatorship
What do social democrats believe in?
Privatization and freedoms
What is a representative democracy?
elected representatives
vote on behalf of constituents
What is totalitarianism?
Form of government in which one person or political party exercises absolute
control over all spheres of human life, and opposing political parties are prohibited
What is communist totalitarianism?
advocates achieving socialism through
totalitarian dictatorship.
What is Theocratic totalitarianism?
political power is
monopolized by a party, group, or individual that governs according to
religious principles
What is tribal totalitarianism?
where a political party that represents the
interests of a particular tribe monopolizes power.
What is Right-wing totalitarianism?
individual economic freedom is allowed
but individual political freedom is restricted because it could lead to
communism.
What is a market economy?
Controlled by supply and demand
What is a command economy?
Controlled by central system
What is a mixed economy?
Mix of market and command economy
What is common law?
based on tradition, precedent, and custom. Detailed, with
contingencies spelled out.
What is civil law?
based on detailed set of laws organized into codes. Shorter
contracts, less specific
What is theocratic law?
Based on religious teachings
What are property laws?
The Legal rights
over the use to which a resource is put and over the use made of any
income derived from that resource.
What is private action?
theft, piracy, blackmail, and the like by private
individuals or groups
What is public action?
public officials extort income or resources from
property holders.
What is the FCPA
Foreign Corrupt Practices Act
What does the FCPA do?
- Makes it illegal to bribe a foreign government official to obtain or maintain
business over which the foreign official has authority. - Facilitating or expediting payments to secure performance of routine government
actions are permitted.
What are patents?
give inventor exclusive rights to the manufacture, use, or sale of that
invention.
What are copyrights?
exclusive legal rights of authors, composers, playwrights, artists, and
publishers to publish and dispose of their work as they see fit.
