Week 2 Flashcards
system of law based on detailed set of written laws and codes
civil law systems
form of government advocating that socialism can be achieved only through totalitarian dictatorship
communist totalitarianism
grants exclusive rights to the investor of a new product or process
patent
political system that emphasizes the primacy of collective goals over individual goals
collectivism
economic system in which supply and demand determine the production of goods and services
market economy`
resource over which an individual or business holds legal title
intellectual property/property
citizens periodically elect individuals to represent them
representative democracy
government plans the allocation of resources and the production of goods
command economy
document that specifies the conditions under which an exchange is to occur and details the rights and obligations
contract
sale of state owned enterprises to private investors
privatization
governed according to religious principle
theocratic totalitarianism
resources such as land, buildings, equipment, capital and intellectual property
private property
political, economic, and legal systems of a country
political economy
system of a country that shapes its economic and legal policies
political systems
believe in public ownership for the common good of society
socialist
believe socialism can be achieved only through revolution
communist
committed by achieving socialism by democratic means
social democrats
government is by the people, either directly or through elected representatives
democracy
one person or political party exercises absolute control
totalitarianism
political power is monopolized by part or group according to religious belief
theocratic totalitarianism
represents interest of a particular tribe
tribal totalitarianism
a party or group monopolizes political power
right wing totalitarianism
set or rules that regulate behavior and processes
legal systems
system of law based on tradition
common law
