Political Economies - Terms

What is the definition of the term markets in political science?

• A system in which people may vote on laws and regulations affecting the economy.

• A system in which the government manages the allocation of resources and all economic activity.

• The voluntary exchange of products, services, and resources between buyers and sellers, driven by supply and demand.

• A system where individuals exchange goods and services without the use of money.

What is the definition of the term property in political science?

• Stuff that people own and belong to, like possessions or land.

• Phrase that is used to express social standing.

• A type of government system.

• Phrase that is used to denote academic levels.

What is the definition of the term public goods in political science?

• Items that are challenging for people or businesses to provide on their own yet are beneficial to everyone in society.

• Items that private businesses give, like luxury items.

• Items that solely benefit a small portion of society, such expensive products or privileged services.

• Items that the government provides but that only help the rich, such tax advantages or grants for luxury products.

What is the definition of the term social expenditures in political science?

• Expenditures on the military for national security.

• Spending on building roads and bridges and other infrastructure.

• Investment on social objectives by private businesses.

• Spending by the government on initiatives and services aimed at enhancing people' wellbeing.

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What is the definition of the term taxation in political science?

• A method by which governments give financial aid to people and companies.

• The process through which governments impose financial obligations on citizens and companies in order to pay for public goods and services.

• The procedure through which governments borrow money from other nations to pay for public services and initiatives.

• The strategy through which governments control market pricing for products and services.

What is the definition of the term GDP in political science?

• The total value of products and services purchased within a nation's boundaries during a specific time frame.

• The total value of products and services purchased outside a nation's boundaries during a specific time frame.

• The total of all products and services produced inside a nation's boundaries during a specific time frame.

• The total value of products and services produced outside of a nation's boundaries during a specific time frame.

What is the definition of the term money in political science?

• An approach political parties employ to enhance voting numbers.

• A form of income that is frequently applied to political campaigns.

• The financial means through which people and organizations influence and exert control in the political system.

• A technique through which the elected officials can interact with their supporters.

What is the definition of the term inflation in political science?

• An increase in the monetary value driven about by a decrease in the economy's average rate of prices for goods and services.

• An increase in an economy's supply of products and services.

• A decrease in an economy's overall scale of prices for goods and services.

• A decrease in the buying power of money as a result of an increase in the economy's total price of goods and services.

What is the definition of the term hyperinflation in political science?

• An increase in the quality of cash because of a widespread decrease in the cost of goods and services in an economy.

• A significant increase in the typical cost of goods and services within an economy that causes a sharp decrease in the buying power of money.

• A slow increase in an economy's overall cost for products and services.

• An economy with consistent prices for goods and services.

What is the definition of the term deflation in political science?

• A decrease in the economy's overall cost for goods and services that increases the buying power of money.

• A decrease in the monetary value as a result of an increase in the typical cost of goods and services in an economy.

• An economy with consistent prices for goods and services.

• An increase in an economy's overall cost for products and services.