Political Economy and Economic Systems

The social institution through which power is acquired and exercised by certain individuals and groups.

Refers to the interdependent workings and interests of political and economic systems.

Capitalism, socialism, and mixed economies.

<p>Private ownership of the means of production, from which personal profits can be derived through market competition and without government intervention.</p> Signup and view all the answers

<p>Public ownership of the means of production, the pursuit of collective goals, and centralized decision making.</p> Signup and view all the answers

<p>It combines elements of both capitalism (a market economy) and socialism (a command economy).</p> Signup and view all the answers

<p>Primary-sector production, secondary-sector production, and tertiary-sector production.</p> Signup and view all the answers

<p>A situation in which a small number of companies or suppliers control an entire industry or service.</p> Signup and view all the answers

<p>Also known as permanent government, refers to the top-tier civil service bureaucrats who have a strong power base and play a major role in developing and implementing government policies and procedures.</p> Signup and view all the answers

<p>Functionalists use a pluralist model, believing that power is widely dispersed through many competing interest groups in our political system.</p> Signup and view all the answers

<p>Conflict theorists use an elite model, believing the power in political systems is concentrated in the hands of a small group, whereas the masses are relatively powerless.</p> Signup and view all the answers

<p>A political system in which the people hold the ruling power either directly or through elected representatives.</p> Signup and view all the answers

<p>The social institution that ensures that a society will be maintained through its production, distribution, and consumption of goods and services.</p> Signup and view all the answers

<p>A view of society in which power in political systems is concentrated in the hands of a small group, whereas the masses are relatively powerless.</p> Signup and view all the answers

<p>The difference between a candidate's number of votes from men and women.</p> Signup and view all the answers

<p>The interdependence of the military establishment and private military contractors.</p> Signup and view all the answers

<p>A situation that exists when a single firm controls an industry and accounts for all sales in a specific market.</p> Signup and view all the answers

<p>The top-tier civil service bureaucrats who have a strong power base and play a major role in developing and implementing government policies and procedures.</p> Signup and view all the answers

<p>The view that power is widely dispersed throughout many competing interest groups in our political system.</p> Signup and view all the answers

<p>Special-interest groups that fund campaigns to help elect (or defeat) candidates based on their positions on specific issues.</p> Signup and view all the answers

<p>An organization whose purpose is to gain and hold legitimate control of government.</p> Signup and view all the answers

<p>Rulers of the US, which at the top is composed of business leaders, the executive branch of the federal government, and the military.</p> Signup and view all the answers

<p>The extraction of raw materials and natural resources from the environment.</p> Signup and view all the answers

<p>The processing of raw materials into finished products.</p> Signup and view all the answers