ContractA contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. A binding agreement between actors in international law is known as a treaty.
Three-sector modelThe three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary). The model was developed by Allan Fisher, Colin Clark, and Jean Fourastié in the first half of the 20th century, and is a representation of an industrial economy. It has been criticised as inappropriate as a representation of the economy in the 21st century.
One ChinaThe term One China may refer, in alphabetical order, to one of the following: The One China policy refers to a United States policy of strategic ambiguity regarding Taiwan. In a 1972 joint communiqué with the PRC, the United States "acknowledges that all Chinese on either side of the Taiwan Strait maintain there is but one China and that Taiwan is a part of China" and "does not challenge that position." It reaffirms the U.S. interest in a peaceful settlement of the Taiwan question.
Nationalist governmentThe Nationalist government, officially the National Government of the Republic of China (), also known as the Second Republic of China or simply as the Republic of China, refers to the government of the Republic of China from 1 July 1925 to 20 May 1948, led by the Kuomintang (Chinese Nationalist Party). After the outbreak of the Xinhai Revolution on 10 October 1911, revolutionary leader Sun Yat-sen was elected Provisional President and founded the Provisional Government of the Republic of China.
Tertiary sector of the economyThe tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end products. Services (also known as "intangible goods") include attention, advice, access, experience and affective labour.
CompetitionCompetition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources.
Private sectorThe private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector.
Policy studiesPolicy studies is a subdiscipline of political science that includes the analysis of the process of policymaking (the policy process) and the contents of policy (policy analysis). Policy analysis includes substantive area research (such as health or education policy), program evaluation and impact studies, and policy design. It "involves systematically studying the nature, causes, and effects of alternative public policies, with particular emphasis on determining the policies that will achieve given goals.
International tradeInternational trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries.
Chinese economic reformThe Chinese economic reform or Chinese economic miracle, also known domestically as Reform and Opening-up (), refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the late 20th century. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the "Boluan Fanzheng" period.
