Chapter 11

Question 1

Economy

Answer 1

A social instituation that determines how a society produces, distributes, and consumes goods and services

Question 2

Politics

Answer 2

A social institution through which individuals and groups acquire and exercise power and authority and make decisions

Question 3

Capitalism

Answer 3

Economic system in which wealth is in private hands and is invested and reinvested to produce profit

Question 4

Monopoly

Answer 4

Domination of a particular market or industry by one person or company

Question 5

Oligopoly

Answer 5

Domination of a market by a few large productions or suppliers

Question 6

Communism

Answer 6

A political and economical system in which all members of a society are equal

Question 7

Corporation

Answer 7

A social entity that has legal rights, privileges, and liabiliities apart from those of its members

Question 8

Conglomerate

Answer 8

A giant corporation that owns a collection of companies in different industries

Question 9

Interlocking Directorate

Answer 9

A situation in which the same people serve on the boards of directors of several companies or corporations

Question 10

Transnational corporation (multinational corporation/ international corporation)

Answer 10

A large company that is based in one country but operates across international boundaries

Question 11

Transnational conglomerate

Answer 11

A corporation that owns a collection of different companies in various industries in a number of countries

Question 12

Work

Answer 12

A physical or mental activity that produces or provides either goods or services

Question 13

Deindustrialization

Answer 13

A process of social and economical change because of the reduction of indistrial activity, especially manufacturing

Question 14

Globalization

Answer 14

The growth and spread of investment, trade, production, communication, and new technology around the world

Question 15

offshoring

Answer 15

Sending work or jobs to another country to cut a companys costs at home

Question 16

Downsizing

Answer 16

A euphemism for firing large numbers of employees at once

Question 17

Underemployed

Answer 17

People who have part-time jobs but want full-time work or whose jobs are below their experience and education level

Question 18

Government

Answer 18

A formal organization that has the authority to make and enforce laws

Question 19

Democracy

Answer 19

A political system in which, ideally, citizens have control over the state and its actions

Question 20

Totalitarism

Answer 20

A political system in which the government controls every aspect of peoples lives

Question 21

Authoritarianism

Answer 21

A political system in which the state controls the lives of citizens but permits some agree of individual freedoms

Question 22

Monarchy

Answer 22

A political system in which a power is allocated solely on the basis of heredity and passes from generation to generation

Question 23

Power

Answer 23

The ability of a person or group to affect the behavior of others despite resistance and opposition

Question 24

Authority

Answer 24

The legitimate use of power

Question 25

Traditional authority

Answer 25

Power based on customs that justify the position of the ruler

Question 26

Charismatic authority

Answer 26

Power based on exceptional individuals abilities and characteristics that inspires devotion, trust, and obedience

Question 27

Rational-legal authority

Answer 27

Power based on the belief that laws and appointed or elected political leaders are legitimate

Question 28

Political party

Answer 28

An organization that tries to influence and control government by recruiting, nominaiton and electing its members to public office

Question 29

Pluralism

Answer 29

A political system in which power is distributed among a variety of competing groups in a society

Question 30

Power elite

Answer 30

A small group of influential people who make the nations major political decisions