200 STUDY GUIDE - Chapter 4 (6) - Political, Economic, and Legal Systems
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11 Terms
Political system
The structures, processes, and activities by which a nation governs itself.
Anarchism
Belief that only individuals and private groups should control a nation’s politics
Pluralism
Belief that both private and public groups play roles in a nation's politics
Economic System
The structure and processes that a country uses to allocate its resources and conduct its commercial activities.
Centrally Planned Economy
System in which the government owns a nation’s land, factories, and other economic resources.
State Capitalism
System in which the state plays the role of leading economic actor and uses markets primarily for political gain.
Mixed Economy
System in which land, factories, and other economic resources are rather equally split between private and government ownership.
Market Economy (Capitalism)
System in which most of a nation’s land, factories, and other economic resources are privately owned.
Legal System
A country’s set of laws and regulations
Common law
Legal system based on a country’s legal history (tradition) and how laws are applied in specific situations
Civil law
Based on a detailed set of written rules and statutes that constitute legal code