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Social Studies Final

Notecards for Social studies

Who owns the resources in a Traditional Economy? Induviduals
Who owns the resources in a Command Economy? The Government
Who owns the resources in a Market Economy? Induviduals
What decides what will be produced in a Traditional Economy? Customs and Beliefs
Who decides what will be produced in a Command Economy? The Government
Who decides what will be produced in a Market Economy? Whoever owns the company or factory
What will decide how things will be produced in a Traditional Economy? Customs and Beliefs
What will decide how things will be produced in a Command Economy? The Government
What will decide how things will be produced in a Market Economy? Whoever owns the company
Who gets whats produced in a Traditional Economy? Depends on who you are
Who gets whats produced in a Command Economy? The Government decides
Who gets whats produced in a Market Economy? Depends on money
F.O.Ps Land, Labor, Capital
Land Non man-made materials used to make a good or service
Labor The skills, knowledge, time and energy of people involved in making a product or service.
Capital Man-made items like tools and factories used to provide a good or service
Want The desire or need for a product or service
Production The combination of the land, labor, and capital to make a good or service
Distribution The act of making a good or service available to people
Consumption The act of using a good or service. Satisfaction may only be temporary
Benefits The positive aspects associated with a choice
Scarcity The absence of something that results from the conflict between unlimited wants and limited resources
Opportunity Cost The most important benefit that you give up because you chose something else
Traditional Economy Everyone works for the good of everyone else. May be considered "Primitive" by some
Command Economy You have little to say in economic decisions. You will do as you are told and you will like it or else! The Government controls all the F.O.P.
Market Economy People have a major say in economic decisions. Most are motivated by the opportunity to make money.
Mixed Economy An economy that is a mixture of the three basic systems
Weakness in bartering Inconvenient in today's economy
Money as a medium of exchange It's what you give to get something else. People accept it because they can use it to buy something for themselves
Money as a standard of value People understand the comparative worth of an object or service when discussing its price or the money it generates
Money as a store of value It can be recognized when you decide to keep it instead of spending it. You are storing it for use in the future
Money is generally acceptable Everyone is willing to take money in exchange for goods and services because they too will be able to use it or save it.
Money is easily counted and measured Makes it easy to establish prices, keep track of value, profits and losses.
Money is durable Money lasts for a long time and is not easily destroyed
Money is convenient It is easy to carry and use
Money is cheap to produce Today's paper money and coins are much less expensive then the past practice of mining precious metals for coins.
Money is easily controlled In the growing economy, there must be a continuous supply of money with just the right amount available
Value of currency It is officially recognized as currency by the U.S. federal government
What impact did the Dredd Scoot verdict have on America? It defined slavery as constitutional, and slaves as property
Thurgood Marshall was not only Linda Brown's lawyer but later... The first African-American supreme Court Justice
Amendment XXVII (27) limits how Congress may receive pay raises by... Not allowing member to receive the raises they give themselves until after they win re-election
Amendment XVIII (18) and XXI (21) are related because... XVII (18) made alcohol illegal and XXI (21) made it legal again
Amendment XIII (13) was added to the Constitution as a result of... The North's defeat of the South in the Civil War
Amendment XIV (14) Gave African Americans citizenship
What was the basis of Dred Scott's argument in the U.S. Supreme Court? Having being brought by his master into a free state he was thereby a freeman
Amendment XXIV (24) ended Poll tax
What might be an argument behind the XXVI (26) Amendment? If you are old enough to fight, you are old enough to vote
The Miranda warning explains a person's rights under the Fifth Amendment
In Tinker versus Des Moines, the Supreme Court ruled that students Have a right to free speech
What was the effect of Nixon refusing to turn over the Watergate tapes? Nixon resigned
Roe versus Wade involves which Amendment and the right to privacy? The Fourteenth Amendment
The most recent Amendment to the Constitution deals with? Congressional salaries
What did the most recent voting rights Amendment do? It lowered the age to 18 in all elections
Several constitutional Amendments reflect the change in attitude about? Who has the right to vote
True or false The term "separate but equal" was given Constitutional approval by the Brown vs. Board verdict in the Supreme Court False
Challenged the abortion laws in Texas Roe vs. Wade
Decision emphasized that no one is above the law Nixon vs. United States
Adopted a policy banning armbands Tinker vs. Desmoines Public Schools
This case supported slave owners Dred Scott vs. Sandford
Overturned Plessy vs. Ferguson Brown vs. Board Of Education in Topkea
Created by: joemama78