International Political Economy exam with correct answers 2024
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Course
International Political Economy
Institution
International Political Economy
Mercantilism correct answers Economic system of trading nations; belief that a nation's power was directly related to its wealth, Similar to realism, free trade increases vulnerability, focuses on relative power, interdependence and dependence can lead to conflict, trade protectionism. command eco...
Mercantilism correct answers Economic system of trading nations; belief that a nation's
power was directly related to its wealth, Similar to realism, free trade increases
vulnerability, focuses on relative power, interdependence and dependence can lead to
conflict, trade protectionism. command economy, with more centralized government.
Realism correct answers A theory of international relations that focuses on the
tendency of nations to operate from self-interest.
State correct answers an area organized into a political unit and ruled by an
established government with control over its internal and foreign affairs
Sovereignty correct answers a principle of international relations that holds that final
authority over social, economic, and political matters should rest with the legitimate
rulers of independent states
Liberalism correct answers a political or social philosophy advocating the freedom of
the individual, parliamentary systems of government, nonviolent modification of political,
social, or economic institutions to assure unrestricted development in all spheres of
human endeavor, and governmental guarantees of individual rights and civil liberties., A
set of beliefs that includes the advocacy of positive government action to improve the
welfare of individuals, support for civil rights, and tolerance for political and social
change.
Structuralism correct answers a sociological theory based on the premise that society
comes before individuals
Normative correct answers an approach that defines how a decision maker should
make decisions and provides guidelines for reaching an ideal outcome for the
organization
Positive Government correct answers The philosophical belief that government
intervention is necessary in order to enhance personal liberty and security when
individuals are buffeted by economic and social forces beyond their control.
Globalization correct answers The trend toward increased cultural and economic
connectedness between people, businesses, and organizations throughout the world.
Exogenous correct answers Externally caused rather than produced within an system
Basic Economic Objective correct answers -achieve material well-being for
1) production system to assure production of goods and services
, --> basic survival
get the most with the least; maximizing profit
2) A distribute system to ensure production continues over time
3) 3 Systems: Command, Market & Static
4) Political Goals:
1. Security for citizens
2. Independence from influence/control
3. Power (ie. resources)
Command Economy correct answers It is an economic system in which the central
government controls industry such that it makes major decisions regarding the
production and distribution of goods and services.
Market Economy correct answers A type of economic system in which production of
goods and services is determined by the demand from consumers. Also called a
demand economy or capitalism; uncontrolled/decentralized-->Successful
Static Economy correct answers One in which the basic forces such as resource
supplies, technological knowledge, and consumer tastes are constant and unchainging.
There is no economic profit in the long from in a static economy.
Culture correct answers All the knowledge and values shared by a society.
Economic Determinism correct answers A branch of Marxism which says that societies
are determined by their economies (or economic systems). (not by it's political system).
Ancient Civilizations correct answers Had strong governments and simple social
structure (ruler, priest and nobles, government officials and wealthy merchants,
artisans, farmers, and slaves.)
Resources correct answers Materials found in the earth that people need and value.
Types of Resources correct answers Land: Natural resources and location of land.
Labor: Workers.
Capital: Physical property used to make goods and services ex. factories, taxis, office
furniture.
Entrepreneurship: Ability of an individual to start new business, introduce new
techniques or products or improved them.
Technology: Using any of the 4 resources more efficiently.
Dialectical Process correct answers (of history) each arrangement of power (a thesis)
contains contradictions (antithesis) which make the arrangement unstable and which
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