Chapter 3 Political And Economic Analysis. Genres of Economies Land- everything contained in the earth or found in the seas. A social, political, and economic philosophy in which the government controls factors of production.
Politics is the theory and practice of influencing people through the exercise of power, e.g.
Political and Economic Philosophies Capitalism: Characteristics: Examples: Communism: Characteristics: Examples: Socialism: Characteristics: Examples: Economies in Transition Privatization - process of governments _ government-owned businesses to private individuals or business.
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Capital. money needed to start and operate a business. Political economists study how economic theories such as capitalism, socialism, and communism work in the real world. The Economic, Social, and Political Consequences of Interventionism VIII.
