Examlex
Trends in the modern business environment include a shift to a service economy and the rise of the global marketplace.
First Past
A term often used in the context of elections, typically referring to a "first-past-the-post" system where the candidate with the most votes wins, irrespective of whether a majority is achieved.
Proportional Representation
An electoral system in which parties gain seats in proportion to the number of votes cast for them, aiming for a more representative alignment of legislative seats to popular support.
Socialist Economic System
A political and economic theory advocating for the means of production, distribution, and exchange to be owned or regulated by the community as a whole.
Collective Ownership
The shared control and ownership of assets, resources, or enterprises among a group of people or within a community, as opposed to individual privatization.
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