Chapter 12 Review

Chapter 12 Review - Chapter 12 Review – International Business Definitions Social Safety Net The security that a government provides to its

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Chapter 12 Review – International Business Definitions: Social Safety Net: The security that a government provides to its citizens in the form of healthcare, unemployment, insurance, social security pension, etc. Autocracy: A system of government wherein the ruling party or individual retains absolute control through one of four forms of government- absolute monarchy, one-party-rule, military dictatorship, or theocracy Parliamentary Form of Government: A political system where the members of Parliament choose a Prime Minister as the Head of Government Constitutional Monarchy: A system of government where the emperor/king is the ceremonial Head of the Government, while the actual power resides with the elected representatives Presidential Form of Government: A political system where the president is the elected Head of the Government Absolute Monarchy: A political system where all power is vested with the King/ Emperor of the country- usually heredity Socialism: An economic and political philosophy that requires the government to run all sectors of the economy Military Dictatorship: The Chief of the armed services holds power absolutely, suspending the constitution and other guarantees of human rights to the citizenry Theocracy: A system of government where laws are interpreted and enforced as per religious teachings of the dominant religion of the land Sovereignty: The right of a country to decide all internal matters by itself Expropriation: Refers to the seizure of foreign-owned business by the host government in return for compensation that is well below the market value Welfare State: Designates countries that have a social and political commitment to curbing strident income inequalities though a redistribution of income Mixed Economy: An economy that combines elements of socialism with capitalism, wherein the state is a major economic player Controlled Democracy:
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This note was uploaded on 04/25/2008 for the course IB 201 taught by Professor Engle during the Spring '07 term at Quinnipiac.

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Chapter 12 Review - Chapter 12 Review – International Business Definitions Social Safety Net The security that a government provides to its

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