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Soc 101: Economics and Politics
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32
Sociology
Undergraduate 1
05/16/2010

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Term
Social Institution
Definition
A Major sphere of social life, or societal system, designed to meet human needs.
Term
Economy
Definition
The social institution that organized a society's production, distribution, and consumption of good services.
Term
Postindustrial Economy
Definition
a productive system based on service work and high technology.
Term
Primary Sector
Definition
the part of the economy that draws raw material from the natural environment
Term
Secondary Sector
Definition
The part of the economy that transforms raw materials into manufactured goods.
Term
Tertiary Sector
Definition
The part of the economy involving services rather than goods.
Term
Global Economy
Definition
The expanding economic activity with little regard for national borders.
Term
Capitalism
Definition
Economic system in which natural resources and the means of producing goods and service are privately owned.
Term
Socialism
Definition
An economic system in which natural resources and the means of producing goods and service are collectively owned.
Term
Welfare Capitalism
Definition
An economic and political system that combines a mostly market-based economy with extensive social welfare programs.
Term
State Capitalism
Definition
An economic and political system that in which companies are privately owned but cooperate closely with the government.
Term
Profession
Definition
a prestigious white-collar occupation that requires extensive formal education.
Term
Corporation
Definition
An organization with a legal existence, including rights and liabilities, apart from those of its members.
Term
Monopoly
Definition
to the domination of a market by a single producer.
Term
Oligopoly
Definition
to the domination of a market by a few producers
Term
Politics
Definition
to the social institution that distributes power, set society's agenda, and makes decisions.
Term
Power
Definition
The ability to achieve desired ends despite the resistance of others.
Term
Government
Definition
A formal organization that directs the political life of society.
Term
Authority
Definition
To power that people perceive as legitimate rather than coercive
Term
Routinization of Charism
Definition
the transformation of charismatic authority into some combination of traditional and bureaucratic authority.
Term
Monarchy
Definition
A type of political system in which a single family rules from generation to generation.
Term
Democracy
Definition
a type of political system that gives power to the people as a whole.
Term
Authoritism
Definition
a political system that denies popular participation in government. (example: Ethiopia government)
Term
Totalitarianism
Definition
a highly centralized political system that extensively regulates people's lives. (Example: North Korea)
Term
Welfare State
Definition
to a range of government agencies and programs that provides benefits to the population.
Term
Pluralist Model
Definition
to an analysis of politics that sees power as dispersed among many competing interest groups.
Term
Power-Elite Model
Definition
to an analysis of politics that sees power as concentrated among rich.
Term
Marxist Political-Economy model
Definition
an analysis that explains politics in terms of the operation of society's economic system.
Term
Political Revolution
Definition
to the overthrow of one political system in order to establish another.
Term
Terrorism
Definition
to act of violence or threat of such violence by an individual or group as a political strategy.
Term
War
Definition
to organized, armed conflict between the peoples of various societies.
Term
Military-Industrial Complex
Definition
The close association of the federal government, the military, and the defense industries.
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