Lecture Notes Flashcards

Flashcards generated from lecture notes, focusing on key vocabulary and concepts.

Primary Sector

The sector of an economy dealing with raw materials extracted from the ground.

Secondary Sector

The sector of an economy that processes raw materials into finished goods.

Tertiary Sector

The sector of an economy focused on services and information.

Capitalism

An economic system emphasizing private ownership of property, personal profit, and competition.

Socialism

An economic system emphasizing collective ownership of property, collective goals, and government control.

Bureaucracy

A formal structure designed to be rational and efficient, characterized by specialization, hierarchy, and rules.

Goal Displacement

The displacement of an organization's original goals by the goal of self-perpetuation.

Bureaucratic Alienation

A sense of detachment and impersonality caused by bureaucratic structures.

Bureaucratic intertia

Inability to change readily or to adapt to new circumstances.

Trustees

Individuals at the top of the college organization chart who have the authority to disband Barry College.