Definitions Flashcards

(7 cards)

1
Q

Ideology

A

a fixed set of uncompromising or fixed ideas about how economics, politics, and society should be organised

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2
Q

Capitalism

A

economic system based on private property, in which prices and economic decisions are made based on supply and demand

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3
Q

Free market economy

A

economic system where prices are set by supply and demand and the state does not interfere with competition

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4
Q

Proleterian

A

the workers (owning very little). The exploited majority who are able to rise up.

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5
Q

Bourgeoisie

A

the class controlling the means of production and distribution, giving them power to exploit the proleteriat

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6
Q

communism

A

a political and economic ideology opposing democracy and capitalism. It advocates for a society where the means of production are owned communally. There is limited private ownership.

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7
Q

Democracy

A

government by the whole (eligible) membership of a state, usually through elected representatives.

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