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Gov. & Econ.Terms
Basic government and economics review
Term | Definition |
---|---|
The form of government where POWER is controlled by the central government authority. | Unitary |
When the POWER is shared by national and local/regional governments. | Federal |
The form of government where the POWER comes from the regional authorities TO the central authority for a specific purpose. | Confederation |
The European Union is a good example of the type of government system. | Confederation |
This type of system usually has a Prime Minister as its leader. | Parliamentary Democracy |
The 3 terms that tell us about DISTRIBUTION OF POWER. | Unitary, Confederation and Federal |
The 3 terms that tell us about CITIZEN PARTICIPATION in their government. | Autocratic, Oligarchic and Democratic |
This type of government system can be autocratic, oligarchic or democratic. | Unitary |
These 2 words (one from each list) describe the government of the U.S. | Federal & democratic |
A country which allows all of its qualified citizens the right to participate in government through voting. | democratic |
In a country with this type of government, citizens usually do not get to participate in government at all; they do not get to vote for leaders | autocratic |
A country with this type of government, only a few special citizens have any role in government. | oligarchic |
When citizens elect the leader separately from the legislature (law makers, they live in a country with this type of system. | federal |
In which type of democratic government do citizens vote directly for the leader? | Presidential |
In this type of democratic government, the citizens only vote for members of the legislature. | Parliamentary |
In a parliamentary democracy, who selects or elects the leader of the country? | the legislature |
The government decides what will be produced,how they will be produced and for whom goods will be produced in this type of economic system? | command |
In this type of economic system, the buyers and sellers decide what will be produced, how it will be produced and for who they will be produced? | market |
In this type of economic system, goods are produced and traded like their ancestors did so. | traditional |
All countries have this type of economic system because they have characteristics of market and command economies. | mixed |
Very rural areas likely use this type of system for doing business | traditional |
someone who invests their own money to open and operate a business | entrepreneur |
Entrepreneurs invest their own money in a business because they hope they will be successful and make a ________? | profit |
anything that stops or slows down trade is a ____? | trade barrier |
The type of trade barrier that limits the number of imports | quota |
A tax on imports | tariff |
the total value of all goods and services produced in one year in a country | G.D.P./gross domestic product |
when countries trade because it benefits both countries | voluntary trade |
the skills and education that workers have in order to produce goods and services | human capital |
trade between countries | international trade |
the machines and technology that worker use to make goods or services | capital goods |
when a country stops trading with another country because of a political reason such as war | embargo |
when there isn't enough of a good or natural resource | scarcity |
when countries do not have access to goods they need it creates __________________ between nations | interdependence |
the 2 protective trade barriers | tariffs and quotas |
when a country uses their resources to focus on producing a particular type of good or service it is called this? | specialization |