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51 Cards in this Set
- Front
- Back
political system
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includes structures, processes, and activities by which a nation governs itself
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anarchism
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the belief that only individuals and pricate groups should control a nation's political activities
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totalitarianism
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the belief that every aspect of people's lives must be controlled for a nation's political system to be effective
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pluralism
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the belief that both private and public groups play important roles in a nation's political activities
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democracy
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a political system in which government leaders are elected directly by the wide participation of the people or by their representatives
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representative democracies
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citizens elect individuals from their groups to represent their political needs and views
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freedom of expression
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a constitutional right in most democracies, freedom of expression ideally grants the right to vote opinions freely and without fear of punishment
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periodic elections
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each elected representative serves for a period of time, after which the people decide whether or not to retain these representatives
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civil rights
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include freedom of speech, freedom to organize political parties, and the right to a fair trial
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property rights
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the privileges and responsibilities of owners of property
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minority rights
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the same rights and privileges are by law extended to each group, no matter how few members it has
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nonpolitical bureaucracies
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the bureaucracy is the part of the government that implements the rules and laws passed by elected representatives
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private sector
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segment of the economic environment comprising independently owned firms that exist to make a profit
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totalitarian system
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individuals govern without the support of the people, government maintains control over many aspects of people's lives, and leaders do not tolerate opposing viewpoints.
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theocracy
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when a country's religious leaders are also its political leaders
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theocratic totalitarianism
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a political system that is under the control of totalitarian religious leaders
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secular totalitarianism
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a political system in which political leaders rely on military and bureaucratic power
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communism
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the belief that social and economic equality can be obtained only by establishing an all-powerful communist party and by instituting socialism
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socialism
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an economic system in which the government owns and controls all types of economic activity
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capitalism
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the belief that ownership of the means of production belongs in the hands of the individuals and private businesses
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tribal totalitarianism
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one ethnic group imposes its will on others with whom it shares a national identity
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right wing totalitarianism
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the government endorses private ownership of property and a market based economy, but grants few political freedoms
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political risk
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the likelihood that a government or society will undergo political changes that negatively affect local business activity
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confiscation
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forced transfer of assets from a company to the government without compensation
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expropriation
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forced transfer of assets from a company to the government with compensation
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nationalization
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government takeover of an entire industry
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local content requirements
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laws stipulating that a specified amount of a good or service be supplied by producers in the domestic market
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adaptation
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incorporating risk into business strategies, often with the help of local officials
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local equity and debt
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financing local business activities with the help of local firms, trade unions, financial institutions, and government
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localization
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entails modifying operations, the product mix, or some other business element to suit local tastes and culture
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development assistance
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allows and international business to assist the host country or region in developing its distribution and communications networks and improving the quality of life for locals
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lobbying
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policy of hiring people to represent a company's views on political matters
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foreign corrupt practices act
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1977 statute forbidding US companies from bribing government officials or political candidates in other nations
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legal system
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set of laws and regulations including the processes by which a country's laws are enacted and enforced and the ways in which its courts hold parties accountable for their actions
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e-government
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use of information technology and e-commerce techniques that allow citizens and businesses to access government information and obtain public services
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nationalism
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devotion of a people to their nation's interests and advancement
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common law
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legal system based on a country's legal history, past cases that have come before its courts, and the ways in which laws are applied in specific situations
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civil law
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legal system based on a detailed set of written rules and statutes that constitute a legal code
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theocratic law
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legal system based on religious teachings
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intellectual property
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property that results from people's intellectual talent and abilities
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property rights
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legal rights to resources and any income they generate
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industrial property
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patents and trademarks
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patent
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property right granted to the inventor of a product or process that excludes others from making, using, or selling the invention
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trademark
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property right in the form of words or symbols that distinguish a product and its manufacturing
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copyright
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property right giving creators of original works the freedom to publish or dipose of them as they choose
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Berne Convention
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international treaty that protects copyrights
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product liability
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responsibility of manufacturers, sellers, and others for damage, injury, or death caused by defective products
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value added tax (VAT)
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tax levied on each party that adds value to a product throughout its production and distribution
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antitrust laws
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laws designed to prevent companies from fixing prices, sharing markets, and gaining unfair monopoly advantages
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ethical behavior
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personal behavior in accordance with rules or standards for right conduct of morality
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united nations
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international organization formed after WWII to provide leadership in fostering peace and stability around the world
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