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Unit 6 Vocabulary


Dominion Self-governing nation that accepts the British monarch as head of state.
Commonwealth Partly self-governing group of sovereign states
Federal Government Government with power divided among local, regional, and national governments
Parliamentary Democracy Government run by officials elected to a lawmaking body called the parliament
Constitutional Democracy Government where king or queen is head of state and is restricted by laws, but is run by elected officials
Market Economy Individuals own resources and decide what and how to produce (prices and wages are determined by supply and demand)
Traditional Economy Customs and traditions decide every economic decision. Resources are shared and bartering is used
Command Economy Government owns resources and controls production, prices and wages
Tariff A list of taxes placed by a government on imported goods
Quota Number limit of how many of a particular product can be imported from another country
Embargo Order that restricts or prohibits trade with another country
Trade Barriers A government’s attempt to manage trade to benefit their economy
NAFTA An agreement between Mexico, US, and Canada to eliminate all trade barriers between them
Standard of Living A level of material comfort in terms of goods and services available to someone or some group
Literacy Rate Percentage of people above the age of 15 who can read and write
GDP An economic measure used to determine a country’s economic output during a fiscal year
Acid Rain Rain containing high amounts of chemical pollutants
Mineral A naturally occurring substance that is solid, organic, and contains elements
Natural Resource Product of the earth that people use to meet their needs
Colonization The act or process of establishing a group of colonies
Deforestation Widespread cutting of forests
Inuit The indigenous people of Canada who live in the Nunavut Territory
Bilingual Referring to a country that has 2 official languages
Mixed Economy Economy where individuals own most of the resources and controls production with government regulation of certain industries
Created by: jodi1405



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