Unit 4 Flashcards
What are the three economic theories?
Capitalism, Socialism, Communism
What is another name for Capitalism?
Free Market
What is another name for Socialism?
Mixed Market
What is another name for Communism?
Demand economy
Who is the father of capitalism?
Adam Smith
Who is the father of communism?
Karl Marx
Private property, private business. no taxes, no government services
Capitalism characteristics
No private property, no private, businesses, no taxes, all government services
Communism characteristics
Has taxes, some government services, some private businesses and properties, some non-private businesses and properties
Socialism characteristics
Authoritarian
Collectivism, For all
Libertarian
Individualism, For one
Conservative
Less
Liberal
More
Less taxes, government spends less money, less government regulation
Conservative Traits
More taxes, Government spends more money, More government services
Liberal Traits
Values safety, order and stability, whole group is more important than the individual, what’s best for the group?
Authoritarian Traits
Values individual freedom, the individual is more important, what’s best for the individual?
Libertarian Traits
Set of shared views and judgements held by a population regarding its political system/ political views and opinions
Political Culture
Lifelong process by which people form their ideas about politics and political views
Political Socialization
What factors effect political socialization?
Family, school, media, etc.
What is a focus group?
A group that focuses on people’s opinions and speak for them
What is the best type of sample?
Random samples
What is the bare minimum for a large national poll?
1,500
Representative poll of randomly selected respondents with statistically significant sample size and use of neutral language
Scientific Polls
GOP (Grand old party)
Republican party
Elections, representatives and politicians reaching out directly to the people, people contacting their representatives themselves/political rep
Measurements of public opinion
The sum of individual attitudes about government, policies, & issues
Public opinion
what does political culture influence?
Public policy
What are some conflict with polls?
Lack of transparency, large/unreported sampling error, small sample size, biased questions, improper sampling techniques
What are the 2 types of economies?
Micro and Macro economics
Money coming in/out
Fiscal
What the government is doing to regulate the economy
Monetary
Who/what was Keynesian economics based off of?
John Maynard Keynes’s work in the 1930s
more liberal, more government intervention
Keynesian economics characteristics
What did Keynesian Economics want the government to do? Especially when?
To stimulate economy by increasing spending, During recession
