Sociology Chapter 12: The Economy and Politics

sector of the economy that concentrates on the provision of services

power that is legitimated by formal rules and regulations

the resources that can be used to produce and distribute goods and services

the sector of the economy that concentrates on the use of raw materials to manufacture goods

right of those people in power to control,or govern, others

type of government in which power rests firmly with the state

situation that exists when a few people control an industry

economic model in which the factors of production are owned by individuals

political and economic system in which property is communally owned

pure form of capitalism in which the government does not interfere in the economy

government in which the ruler is nothing more than the symbolic head of state

power legitimated on the basis of personal characteristics of the individual exercising power

a corporation that has factories and offices in several countries

economic transactions that occur over the Internet or other electronic communication systems

organization that seeks to gain power in the government through legitimate means

authoritarian type of government in which power is in the hands of a single individual

trade between nations that is unrestricted by trade barriers

organization that attempts to influence the political decision-making process

system in which a party receives a number of seats in gov related to the popular votes received

a system of roles/norms that governs the production, and consumption of goods and services

business organization owned by stockholders and treated by law as if it is an individual person

system of roles and norms that governs the distribution and exercise of power in society

model in which political power in the US is said to be exercised by the privileged in society

authoritarian type of government in which the hereditary ruler holds absolute Power .

political process in the US is said to be controlled by interest groups that compete for power

most extreme form of authoritarian government.

use of trade barriers to protect domestic manufacturers from foreign competition

economic model in which the factors of production are owned by the government

states that the demand for a product increases as the price of the product decreases

the power that is legitimated by long-standing customs

authoritarian government in which political power is seized from the previous government

sector of the economy that deals with the extraction of raw materials from the environment

economic system with limited government control of business operations

principle that states that producers will supply more products when they can charge high price