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BAV Review
BAV Terms
| Term | Definition |
|---|---|
| Constitutional democracy | a form of government in which the sovereign power of the people is spelled out in a governing constitution. |
| Dictatorship | Government in which the rulers are all powerful, rule by force and limit individual's freedom |
| Communism | System in which the government controls the way of producing goods |
| Developed County | A country that has a mix of agriculture and a great deal of manufacturing and service industry (USA, Japan, Australia) |
| Developing Country | A country that has little industry and is mostly agricultural (Ethiopia, Afghanistan) |
| Gross Domestic Product (GDP) | Total value in dollars of all the final goods and services produced in a country during a single year |
| Investment | Money committed in order to gain a profit |
| Productivity | Using your resources effectively to produce |
| Inflation | Increase in prices over a period of time |
| Profit | money a business earns after all expenses have been met |
| Profit Motive | The driving force that encourages the increase in wealth |
| Latitude | Distance north or south of the equator |
| Longitude | Distance east or west of the Prime Meridian |
| Prime Meridian | 0 degrees longitude |
| Climate | Pattern of weather that takes place in an area over many years |
| Topography | Elevation of different features in a landscape |
| Population Density | Average number of people in an area (# of people divided by the size of an area) |
| Renewable Resource | Natural resource that can be replaced naturally (trees) |
| Nonrenewable Resource | Natural resource that cannot be replaced (coal) |
| Exports | To sell resources or goods to another country |
| Tariffs | Taxes on imported goods |
| Human Environmental Interaction (HEI) | Explains how the environment affects people and how people change their environment |
| Ecosystems | Place shared by plants and animals that depend on one another for survival |
| Globalization | Individual economies rely on each other for resources and markets |
| Imports | To buy resources or goods from another country |