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Worldly Words S.S.

Lattitude Parallel lines that circle the globe on tan east/west directions, and start at the Equator.
Longitude An imaginary linethat circles the globe in a north/south direction and passes through both poles, and start at the Prime Meridian.
Equator An imgainary line that divides the Earth into northern and souther hemispheres.
Prime Meridian An imgainary line that divides the globe into eastern and western hemispheres. It is the north/ south line on the map that passes through the Royal Astronomical Observitory in Greenwich, England.
Hemishpere Half of the sphere or globe any of the halves of the Earth (northern, southern, eastern, western)
Absolute Location The EXACT spot or location on Earth where something is found. It is often stated in latitude and longitude.
Relative Location THe postition of a place in relation to another place.
Compass Rose Has arrows that point to all four cardinal directions north,south,east,west.
Political Map A map that shows boutndries between countries or states and often labels major cities and capitols as well.
Physical Map A map which shows geographical features such as elevation in feet or meters.
Consumer People who buy or use recorces.
Producer Use land,labor,capital time.
Government Serves a regulatory function
Financial Insititution Institutions shich collect money and take loans
Economics Science that deals with production, distribution and uses of money,natural recources and services.
Barter Trading goods and services
Money A medium of exchange. (durable,plentiful,produceable,portable,consistant)
Credit Trust between people, and a pledge to pay later.
Stock Buying shares in a company in exchange for a return of profit.
Incorporate Selling shares of a business or company.
Democracy A form of government in which the people elect leaders and rule by majority.
Comunism A political system in which government owns all property and domonates all aspects of life in a country.
Matrket Economy A system based on private ownership.
Command Economy A system based on central governmental ownership,make all economic desisions.
Created by: c.thibeault