Quiz #1 Vocab Flashcards
(62 cards)
levels of govt.
Federalism and Unitary
head of govt
the executive role that deals with the everyday tasks of running the state, such as formulating and executing policy
the harm principle
the idea that people should be free to act as they wish as long as their actions do not cause harm to others
religious fundamentalism
the approach of those religious groups that look for the literal interpretation of original religious texts or books believing that teachings obtained from this kind of reading must be used in all social, economic, and political aspects
purchasing power parity
a popular macroeconomic analysiss metric used to compare economic productivity and standards of living between countries
Gini Index
a statistical formula that measures the amount of inequality in a society; its scale ranges from 0-100 (0 being perfect quality and 100 being perfect inequality)
inflation
an increase in the general price level of goods and services in the economy
comparative & absolute advantage
Comparative Advantage: refers to a country’s ability to produce a particular good at a lower opportunity cost than its trading partners
Absolute Advantage: refers to a country’s ability to produce a good at a lower cost (output) or using fewer recourses (input) than its trading partners
non-tariff barriers
policy measures, other than ordinary customs tariffs, that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices or both
intellectual property
a work or invention that is the result of creativity, such as a manuscript, or a design, to which one has rights and for which one may apply fora patent, copyright, trademark, etc.
economy
the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services
republican/representative democracy
a government in which the people- directly or indirectly- are the ultimate source of authority, electing representatives to make laws that serve their interests and advance the common good
head of state
the executive role that symbolizes and represents the people both nationally and internationally
totalitarianism
a nondemocratic regime that is highly centralized, possessing some form of strong ideology that seeks to transform and absorb fundamental aspects of a state, society, and the economy, using a wide array of institutions
post-materialist values
value orientation that emphasizes self-expression and quality of life over economic and physical security
cross-cutting and reinforcing cleavages
divisions (race, ethnicity, etc) in a society that do not align perfectly; the problem is compounded when one group is dominant in government and other social institutions
branches of govt
executive, judicial, legislative
devolution
a process in which political power is “sent down” to lower levels of state and government
failed states
a state that is unable to perform the two fundamental functions of the sovereign nation-state in the modern world system: it cannot project authority over its territory and peoples, and it cannot protect its national boundaries
the Inquisition
a judicial procedure and later an institution that was established by the papacy and, sometimes, by secular governments to combat heresy
Human Development Index
a statistical tool that attempts to evaluate the overall wealth, health, and knowledge of the country’s people
capitalism
a system of production based on private property and free markets
recession
a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators
mercantilism
a political-economic system in which national economic power is paramount and the domestic economy is viewed as an instrument that exists primarily to serve the needs of the state