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International Politics Exam 1 Vocab

International Politics Exam 1 Vocab - Agenda-setters...

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International Politics Exam: Vocab Chapters 1-4 Agenda-setters Actors whose actions constrain the choices of others and direct them toward a limited menu of choices Anarchy A characterization of the relations between states in the global arena; lack of an overarching central authority to resolve disagreements, which creates a social context that is open to competition and cooperation, dispute and disagreement, negotiation and compromise, and sometimes, violent conflict Asymmetric Information Situation in which one party involved in an exchange knows more about the commodity being exchanged than the other parties do; incomplete information Atlantic Economy Political economies of western & southern Europe, North America, Australia, and Japan—today the core members of the Organization for Economic Cooperation and Development (OECD) Autarky A policy that seeks complete isolation from the global economy; self-sufficiency Backward induction Process of examining a decision in the reverse, in order to try to understand the rational calculations that could lead to such a decision Causality Direct connection between a cause and an effect; a relationship in which a change in input A brings about a change in outcome B (Why they affect each other) Centralized means of allocation Distribution mechanisms that are more hierarchical and authoritative than the voluntary, consensual nature of a market Cheap talk An insincere, empty promise of threat, reward, or commitment Closed-economy models Approaches to the examination of economic conditions in a society by ignoring economic factors and conditions external to the nation and considering the nation as an isolated entry Completeness Quality that defines two alternatives as both comparable and capable of being placed in a hierarchy Condorcet Paradox Situation in which a voting rule aggregates individual preferences that are complete and transitive, but produces a collective outcome that is intransitive Costs The goods we forgo when we choose to consume a particular item Decentralized Economic systems in which consumption, production, and allocation choices are voluntary, are determined by supply and demand, and are coordinated by a price mechanism Dependency Political economy’s reliance on a particular resource, which thus makes the state vulnerable to influence
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Dependent variable Phenomenon that social researches are attempting to explain, a factor that is influenced or caused by an independent variable Dominant strategy Strategy that a player would select regardless of the actions of other players Economies of knowledge Efficiency gained from learning about how to produce a product Economies of scale Efficiency gained in producing a commodity from the concentration of activities and resources that are required to produce it Efficiency a comparative gauge of the inputs of land, labor, and capital that go into the production of individual goods or services; an efficient market optimizes the use
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International Politics Exam 1 Vocab - Agenda-setters...

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