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jsmith81 foundations
economic, governments, five themes
| Term | Definition |
|---|---|
| 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
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