Lesson 7 Political and Leadership Structures

• bands - small group of politically independent.
• tribes - consist of small, autonomous local communities.
• chiefdoms - the head of a ranked hierarchy of people.
• state - the most formal of political organizations.
• nation - a people who share a collective identity based on a common culture, language, territorial base, and history.
• authority - the right to command and the power to give orders
• legitimacy - a value whereby something or someone acknowledge as acceptable, lawful, right or proper
• traditional legitimacy - governing power
• charismatic legitimacy - this legitimacy spring from the persona charisma or inspiring ideas of the leader
• rational legal legitimacy- this popular acceptance of authority
• economic institutions - the system that society develops to satisfy the needs and wants
• reciprocity - a chain of receiving, pain and repaying of goods and services
• transfers - redistribution of income or wealth in the market system
• redistribution - refers to a system of economic exchange
• market transaction - where buyers and sellers transact economic good and services
• purchases - buyer and seller interact with one another to exchange goods for an amount of money.
• loans - are money advanced to a business with an interest exchange
• mortgage - types of loan that was created for purchasers to be able to make homeownership more attainable.
• market and state - refers to the relationship among economic
• state - creating favorable and stable political economic and social environment
• market - stimulating open growth and opportunities for people
• civil society - mobilize people participation
• perfect competition - a market system characterized by many differrent buyers and sellers.
• monopoly - there is only one producer of a particular good or service
• oligopoly - there are handful a handful of producers, or at least a handful or producers that make up a dominant majority of market system.
• monopolistic competition - a type of market system combining elements of a monopoly and a perfect competition.
• capitalism - private ownership means of production
• socialism - the state control all or most of the means of production
• welfare gate - general welfare of the citizens is a basic duty and the ultimate end of a well ran politics and governance state.
• non state institution - also called non-state actors are broadly defined as international actors who are largely or completely autonomous from the state.
• banks - a financial institution that accepts deposits from the public and creates credit.
• commercial/retail banks - concerned with managing withdrawals and deposits as well as supplying short-term loans to individuals and small businesses.
• investment banks - focus on providing services such as underwriting and corporate reorganization to institutional client
• corporations - a legal entity that is separate and distinct from its owners.
• cooperatives - firm owned, controlled, and operated by a group of users for their own benefit.
• 5 types of cooperative - credit cooperative, consumer cooperative, producers cooperative, marketing cooperative, multi purpose cooperative
• trade unions - an organizations whose membership consists of workers and union leaders, united to protect and promote their common interests.
• transnational advocacy group - organization which dedicated into influencing political, economic, social and institutional decisions beyond countries borders.
• development agencies - an agency whose goal is to help develop and support economic growth within a specified city
• INGOs - international nongovernmental organizations