Vocab Flashcards
Sovereignty
Ability to make and enforce law
State
1) group of people
2) defined territory
3) organized politically
4) with the ability to make and enforce law
Public policy
What government does
Politics
Who gets what, when, and how
Economics
Study of satisfying unlimited wants and needs with limited resources
Microeconomics
Individual economics
Macroeconomics
Economics of countries
Four factors of economic production
1) land
2) labor
3) capital
4) entrepreneurship/management
Divine right theory
God wills leaders into power
Evolutionary theory
Government arises out of the family unit
Social contract theory
People make an agreement with each other to form governments and preserve order
Force theory
Rulers rule by defeating their rivals using big gun diplomacy
Political efficacy
Whether or not someone believes their vote matters
Political socialization
Where one gets his or her political beliefs from
Dual federalism
Separate domains of policy for state and local governments
Cooperative federalism
Federal government gives aid to states
Pluralist theory
Many factions vie for power and get their piece of the “pie”
Hyperpluralist theory
Competition between factions undermines democracy and causes political stalemates
McGovern-Fraser Commission
Set up to reform the rules for delegate selection at the Democratic National Convention - took power away from elites
Soft money
Money donated to political parties that is not regulated
Hard money
Money given directly to candidates and is regulated - information must be recorded and available to the public
PAC
Subset of an interest group
Initiative
Something to be put on the ballot due to a civilian petition by a certain percentage of voters
Referendum
Something put on the ballot by legislature to resolve legislative issue or amend the state constitution
Socialism
Redistribution of wealth
Mixed-market economy
Economy with aspects of socialism and capitalism
Elasticity of demand
Consumer’s willingness to STOP buying a product based on a change in price (ex: basic needs are NOT elastic)
Fiscal Federalism/policy
How government taxes and spends
Monetary policy
How government controls money supply (interest rates)
due process
The law must play fair
