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| The political, economic, and legal systems of a country. |
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| System of government in a nation. |
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| A political system that emphasizes collective goals as opposed to individual goals. |
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| Those who believe socialism can be achieved only through revolution and totalitarian dictatorship. |
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| Those committed to achieving socialism by democratic means. |
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| The sales of state-owned enterprises to private investors. |
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| An emphasis on the importance of guaranteeing individual freedom and self-expression. |
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| A political system in which government is by the people, exercised either directly or through elected representatives. |
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| Form of government in which one person or political party exercises absolute control over all spheres of human life and opposing political parties are prohibited. |
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| A political system in which citizens periodically elect individuals to represent them in government. |
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| Communist Totalitarianism |
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| A version of collectivism advocating that socialism can be achieved only through a totalitarian dictatorship. |
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| A political system in which a party, group or individual that represents the interests of a particular tribe (ethnic group) monopolizes political power. |
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| Right-wing Totalitarianism |
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| A political system in which political power in monopolized by a party, group, or individual that generally permits individual economic freedom but restricts individual political freedom, including free speech, often on the grounds that it would lead to the rise of communism. |
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| An economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced. |
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| An economic system where all allocation of resources, including determination of what goods and services should be produced, and in what quantity, is planned by the government. |
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US
Certain sectors of the economy are left to private ownership and free market mechanisms, while other sectors have significant government ownership and government planning. |
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| Rules that regulate behavior and the process by which the laws of a country are enforced and through which redress of grievances is obtained. |
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| A system of law based on tradition, precedent, and custom. When law courts interpret common law, they do so with regard to these characteristics. |
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| A system of law based on a very detailed set of written laws and codes. |
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| A system of law based on religious teachings. |
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| A document that specifies the conditions under which an exchange is to occue and details the rights and obligations of the parties involved. |
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| The body of law the governs contract enforcement. |
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| United Nations Convention on Contracts for the International Sale of Goods (CIGS) |
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| A set of rules governing certain aspects of making and performance of commercial contracts between sellers and buyers who have their places of business in different nations. |
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Bundle of legal rights over the use to which a resource is put and over the use made of any income that be derived from that resource.
In english: the right you use your resources and the income derived from them. |
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| The theft, piracy, blackmail, and the like by private individuals or groups. |
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The extortion of income or resources from property holders by public officials, such as politician and government bureaucrats.
ex. Levying excessive taxes, requiring ecpensive licenses or permits, and taking away assets without compensation. |
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| Foreign Corrupt Practices Act |
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| U.S. law regulating behavior regarding conduct of international business in the taking of bribes and other unethical actions. |
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| Grants the inventor of a new product or process exclusive rights to the manufacture, use, or sale of that invention. |
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| Exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and dispose of their work as they see fit. |
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| Designs and names often officially registered, by which merchants or manufactures designate and differentiate their products. |
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| Paris Convention For the Protection of Industrial Property |
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| International agreement to protect intellectual property; signed by 96 countries. |
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| Set certain safety standards to which a product much adhere. |
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| Involves holding a firm and its officers responsible when a product causes injury, death, or damage. |
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| Purchasing Power Parity (PPP) |
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| An adjustment in gross domestic product per capita to reflect difference in the cost of living. |
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| An attempt by the UN to assess the impact of a number of factors on the quality of human life in a country. |
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| Development of new products, processes, organizations, management practices and strategies. |
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| Removal of government restrictions concerning the conduct of a business. |
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| The sale of state owned enterprises to private investors. |
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