Term
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Definition
| Economic system in which the government is the leading economic actor and uses markets for political purposes |
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Term
| Centrally Planned Economies |
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Definition
| Economic system in which the state determines production, consumption and pricing of commodities |
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Definition
| The idea that hegemonic powers overcommit resources, thus undermining their powers |
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Definition
| Relative values of currencies as determined by supply and demand of market forces |
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Term
| Most-Favored-Nation Principle |
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Definition
| Granting the same low-tariff trade status as enjoyed by a state's most-favored trading partner |
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Definition
| Values of currencies "pegged" to either another currency or to certain commodities, such as gold |
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Definition
| Values of currencies in relation to each other |
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Term
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Definition
| State decisions on printing, circulating, and otherwise affecting the value of their currency |
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Term
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Definition
| Selling products abroad at below-cost prices |
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Term
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Definition
| Limits on the number of goods that can be imported into the country |
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Term
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Definition
| Policies directed to protect domestic economy from foreign competition |
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Term
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Definition
| Import tax on foreign products |
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Term
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Definition
| Financial aid from governments to domestic industries |
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Term
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Definition
| Economic philosophy that asserts the primacy of the state and protection of the states economic power |
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Term
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Definition
| Goods that, once provided, are available to all group members, regardless of their individual contributions |
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Term
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Definition
| Goods that a certain country is relatively more efficient at producing |
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Term
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Definition
| international commerce unrestricted by state-imposed penalties such as tariffs. |
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Term
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Definition
| Economic philosophy advocating free trade to increase efficiency and wealth |
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Term
| Liberal International Economic Order |
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Definition
| Post World War II attempt to construct international economic relations based on economic liberalism |
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Term
| International Political Economy |
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Definition
| Area of study focusing on the relationships between international political and economic relationships. |
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