Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Japanese Names > Powerpoint questions > Flashcards

Powerpoint questions Flashcards

1
Q

Globalization

A

the process by which the economies of different countries, peoples, and corporations become intertwined.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Advantages to developing countries

A

direct investments and competitive advantage labor costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Advantage to developed countries

A

bigger markets and resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Declining costs of trade from__

A

technological advancements

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Has there been an increase in multi-national corporations?

A

Yes in 1970 there were 7,000 and now there are 65,000 2010.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is Social Darwinism and who though of it?

A

Natural selection- survival of the fittest economical. Herbert Spencer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Who wrote the “The protestant Ethic and The Spirit of Capitalism?”

A

Max Weber

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Stages of Economic Development

A
  1. Hunter-Gatherer
  2. Agricultural
  3. Feudalism: 9th-15th
  4. Mercantilism: 16th-18th
  5. Capitalism: 19th
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Feudalism?

A

Land in exchange for labor; 9th to 15th century.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is Mercantilism?

A

Trading based economy; 16th to 18th century.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Laissez-faire capitalism

A

means that the government leaves the people alone regarding all economic activities. It is the separation of economy and state.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Welfare capitalism

A

Welfare capitalism is capitalism that is concerned with the social welfare of the worker, and includes such policies as social security, universal healthcare, collective bargaining, and industrial safety codes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

State capitalism

A

usually described as an economic system in which commercial (i.e. for-profit) economic activity is undertaken by the state, where the means of production are organized and managed as business enterprises, including the processes of capital accumulation, wage labor, and centralized management.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Crony capitalism

A

describing an economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, or other forms of state interventionism.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Corporation capitalism

A

describe a capitalist marketplace characterized by the dominance of hierarchical, bureaucratic corporations. A large proportion of the economy of the United States and its labour market falls within corporate control.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Mixed economics

A

An economic system that features characteristics of both capitalism and socialism. A mixed economic system allows a level of private economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims. This type of economic system is less efficient than capitalism, but more efficient than socialism.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Economy of Scale

A

the greater the quantity of a good produced, the lower the per-unit fixed cost because these costs are shared over a larger number of goods.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Mass Production

A

is the production of large amounts of standardized products, including and especially on assembly lines.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Externalities

A

A consequence of an economic activity that is experienced by unrelated third parties. An externality can be either positive or negative.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Market Economy

A

An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country’s citizens and businesses and there is little government intervention or central planning.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Division of Labor

A

he assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Pump priming

A

Government action taken to stimulate the economy, as spending money in the commercial sector, cutting taxes, or reducing interest rates.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Fiscal policy

A

means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Monetary policy

A

is the actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Adam Smith

A
  • 1723-1790 Scottish
  • An inquiry into the Nature & Causes of the“Wealth of Nations”
  • Father of economics
  • laissez- faire capitalism
  • “Free Market System”- Supply and demand
  • Self interest as opposed to selfishness
  • State to refrain from interfering in Market System but maintain balance- an umpire
26
Q

Thomas Malthus

A
  • English, Known by students as “Pop” for population
  • Population grows exponentially while food supply grows arithmetically
  • Shouldn’t interfere with natural checks on population growth; sickness, poverty, etc.
  • Recommended abstinence for lower classes
  • Majority of Humanity fated to subsistence level
27
Q

John Stewart Mills

A
  • British Political Philosopher
  • Classic liberalism
  • Child prodigy Greek at 3, Latin at 8/ nervous breakdown at 21
  • Utilitarianism from Godfather Bentham
  • The “no harm” principle/ theory of liberty
  • Free exchange of ideas as an obligation
  • Advocate of woman’s rights.
28
Q

Robert Owen

A
  • Welsh
  • Believed in communal or cooperative movement
  • philanthropist
  • People are formed by nature and early experiences
  • Utopian socialism
  • New Harmony in Indiana
29
Q

Karl Marx

A
  • German
  • “Das Kapital” “Communist Manifesto”
  • thesis, anti-thesis and synthesis; every system contains seeds of its own destruction
  • History is the story of Class struggle
  • Philosopher, sociologist, economist and activist
  • Laws of society- Product of forces/ inevitability/economic Darwinism
30
Q

John Maynard Keynes

A
  • Advocated using fiscal and monetary policies to mitigate effect of recessions- government intervention
  • Policy of pump priming
  • Thought by some as the savior of capitalism
31
Q

John Kenneth Galbraith

A

Canadian born and educated
Taught at Harvard; part of FDR brain trust; advisor to Kennedy
Proponent of American liberalism and progressivism
Favored big government to balance big business and big unions
Advocated public spending to offset private spending- opposed “private wealth and public squalor”

32
Q

Milton Friedman

A
  • Economist- “the most influential economist of the second half of the 20th century…possibly of all of it.”
  • advocated minimizing the role of government in a free market as a means of creating political and social freedom…including developing countries.
  • Libertarian in approach- Favored school vouchers, privatization, legalization of marijuana, prostitution, etc.
33
Q

Populations of: US, China, India, Russia, World

A 
World- 7.34b
China- 1.4b
US-325m
India- 1.28b
Russia-142m
34
Q

Sole proprietership

A

is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.

35
Q

Partnership

A

A business organization in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts from the business.

36
Q

Corporation

A

a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.

37
Q

Trust

A

A fiduciary relationship in which one party, known as a truster, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary.

38
Q

The world’s top ___ corporations account for over __% of economic activity on the globe;

A

The world’s top 200 corporations account for over 25% of economic activity on the globe;

39
Q

Of the 100 largest economies approximately __% are corporations and __% are countries.

A

Of the 100 largest economies approximately 51% are corporations and 49% are countries.

40
Q

What are some issues relating to multi-national corporations

A
  • Jurisdiction
  • Choice of law
  • Enforcement foreign judgment
  • Taxes
  • Regulations
41
Q

Pluralism

A

is the theory that a multitude of groups, not the people as a whole, govern the United States.

42
Q

Pros and Cons of Pluralism

A 
Pros
- Checks & balances
- Maximum Freedom
- Culturally rich
- Fosters creativity
Cons
- Fosters conflict
- Inefficient
- Special Interests as opposes to common interest
- Tendency to throw away baby with bathwater.
43
Q

Business

A

commercial or mercantile activity engaged in as means of livelihood

44
Q

“a pluralistic society”

A

wide decentralization and diversity of power concentration.

45
Q

Some Corporate Issues

A 
Constitutional rights of Personhood
Corporate Social Responsibility
Corporate Taxes
CEO salaries
Employment at Will
46
Q

Whats the McCain Feingold Act?

A

Prohibits unions and corporations from broadcasting “electioneering communications”.

47
Q

Milton Friedman’s view on Social Responsibility?

A

There sole responsibility is to make money for their shareholders.

48
Q

What are the exceptions to Employment at Will?

A 
Express Contractual
Implied Contractual
Union Contracts
Public Policy Exception
Whistle blowing exception
Anti-Discrimination acts- age, race, religion, gender, handicap, union activity
49
Q

Stakeholders

A

Those person or groups who effect or are affected by business decisions; interested parties

50
Q

What is a regulation?

A

A rule or order having the force of law issued by a government authority”.

51
Q

Purposes of Regulation

A

controlling natural monopolies
controlling negative externalities
achieving social goals
miscellaneous

52
Q

Why Regulatory Agencies

A

Economy too big for Congress to regulate on its own
Need for expertise
Need for specialization
Need for multi-functions such as executive and judicial

53
Q

Aspects of Economy

A

Production
Distribution
Financing
Consumption

54
Q

Regulatory Agencies

A

Established by legislative act “enabling statutes”
sets and enforces standards for an industry
Operates solely in the private sector of the economy
Enforce the standards
Commission of experts

55
Q

Powers of Regulatory

A

Executive
Legislative
Judicial

56
Q

Legislative power of regulatories

A

Filing proposal, hearings, and promulgating

57
Q

Judicial power of regulatories

A

Administrative Law Judges
Administrative Procedure Act
Technical rules of evidence (such as hearsay) not applicable

58
Q

Executive power of regulatories

A

Monitoring and investigating and prosecuting

59
Q

Freedom of Information Act

A

Non-privileged documents from Agencies

Can appeal refusal to Federal District Courts

60
Q

Sunshine Act of 1976( open meetings law)

A

Open for public observation except
Deals with litigation or future rule making
Issues of personnel

Japanese Names (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions