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jsmith81 foundations

economic, governments, five themes

TermDefinition
dictatorship form of government where a single person has unlimited power and uses force to take and/ or keep power
monarch a ruler such as a king or queen who inherits the position
absolute monarchy a form of government with a monarch who has complete political power
hereditary succession someone in the family of the ruler takes over when he or she dies or give up power
constitutional monarchy a form of government where a constitution limits the monarch's power and guarantees citizens some rights.
theocracy a form of government in which a country is rules by a religious leader, laws of the nation and religion are interwined
presidential system a form of democracy where citizens elect both a legislature and an executive.
parliamentary system a form of democracy where citizens elect a legislature and the executive is then selected by the legislature
democracy rule by the people or a government which many people are able to participate and is based on the idea of majority rule
autocracy a form of government where one person has unlimited power "self or one" "rule"
oligarchy rule by a small group or few "few" "rule"
representative democracy a form of government where people elect others and give them the power to make laws and decisions
federalism power is divided and shared between the national and state governments
sovereignty the highest level of power
republic government where people hold the power and elect leaders to make laws and decision for the people
nation or State a political unit such as a country with defined borders, population, sovereignty, and a government
government a system that makes laws, protect its citizens, provides services, protect the territory
economic system a system for producing, distributing, and consuming goods and services
entrepreneur one who takes risks, makes decisions, and organizes other productive resources to earn a profit
labor (human) resources abilities, talents, training, skills, and knowledge of people used in the production of goods and services.
consumer a person, company, or business that uses goods or services
goods objects of value acquired and used by consumers
distrubution moving goods and services directly to or near consumers
production the process of making goods and services
services actions or activities an individual, company, or business provides for someone els
producer a person, company, or business that makes goods or provides services for consumers
capital resources equipment or goods: machinery, tools, factories, stores, vehicles that are used to produce other goods and services
command economy an economic system in which the three man economic questions are answered by the government
circular flow model the pattern in which goods and services and resources flow in the marketplace
mixed economy an economic system with some government involvement and consumer interaction of supply and demand
market economy an economic system in which the three main economic question is answered by the interaction of the buyer and seller, based on supply and demand
Location describes where something is on earth.
absolute location describes exactly where something is found on earth; address or latitude and longitude
relative location describe where something is found on earth in relation to another place: near, above, west of..
place describes the physical and human characteristics of an area; what does it look like?
region describes the similarities you may find in a place; may include language, culture, physical features
movement describes how people, goods, information and culture got to a particular place
human environmental interaction describes how humans have changed /modified a place or adapted to the place around them.
direct democracy government system in which the citizens of a nation are involved in the making of laws and the day to day decisions of the government
agrarian agriculture
profit an incentive of money gains an entrepreneur receives for taking risks.
traditional economy an economic system that is based on traditional customs and usually an agricultural society.
incentives a reason an entrepreneur takes risks; profit, money gains, job opportunities, status gain or loss in society
economic questions What is to be produced? For whom is it produced? How it is to be produced?
government provides? Services for citizens, protection of nation, makes laws, safety of citizens
Created by: jsmith81