A2 Commmunication And Culture Revision Cards

Revision Cards for key concepts.

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Market Liberalism

-broadly supportive of 'the way things are'

-tends to assert the economic, poltiical, cultural and social benefits of capitalism

-freedom best provided and preserved by 'markets'

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-an economic system in which people are driven to produce goods and serrvices for a profit

2 of 9

The Free Market

-essentially the freedom of trade

-only regulated by the laws of 'supply and demand'

-whilst competition within the structure ensures quality and price are kept under control

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Laws Of Supply And Demand

-the natural relationship between what people 'want' and what people 'need'

-and what is provided to meet these requirments

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'Laissez faire capitalism'

-'laissez faire' means 'leave it alone'

-suggesting the markets need to be left only regulated by its internal laws such as supply and demand

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Mixed Economy

-an economy which has both public and private industries

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-the equation of personal happiness with consumption

-and the purchase of material possesions

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Private Enterprise

-companies owned by individuals and groups

-but not the state

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-diversity of views

-stands in opposition to a single method of approach or method of interpretation

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