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WGU IEC4 Part II
Economics & World Civilization
| Question | Answer |
|---|---|
| Greek Contributions | Realistic Sculpture, advances in math/science/geometry, large monarchial state, libraries |
| Feudalism | Landowners granted land to vassals in echange for service (military or homage) |
| Tariff | Shrink trade deficit by reducing imports/appreciating currency, limit competition for industries new to country, protect employees in an industry, ensure their country is self-sufficient in key industries, gain money to fund government operations |
| Impact of Imports on Domestic Prices | Increases consumer satisfaction, cause leakage from domestic economy, reduce multiplier effect |
| Paleolithic | hunters/gatherers, fishers, sophisticated tools, fires, made clothing and wove baskets |
| Neolithic | permanent buildings, architecture, farming, pottery, writing domesticated plants and animals, hierarchy |
| Olmecs | played ball |
| Incas | women equality, roads through mountains, monuments/buildings, labor tax, sun god |
| Mesolithic | Introduced farming, hunting, pottery, bone tools, bow developed, hafted axes |
| Nelson Mandela | won nobel peace prize for bringing end to apartheid, 27 yrs in prison former president of south africa |
| Chinese Contributions | bureaucracy, oracle bones, rise of commerce, irrigation/drainage, writing on shoulder blades of pigs |
| chines contributions | military went to war in shariots, foot soldiers, great wall, human sacrifice bronze (advanced) |
| Mao Tse | Great leap forward, launched cultural revolution |
| Chinese Contributions | grain stored in pottery, omens from God, expansion of agriculture |
| Han Dynasty | Silk Road |
| Start WWI | Assassination of Archduke Fernando |
| Tariff | tax imposed on each imported good |
| Gross Domestic Product | all goods and services produced within a countries boundries in one year |
| Oligopoly | small number of producers, barriers to entry, price searchers and mutual independence |
| Monopoly | single seller, barriers of entry, considerable control over price, profit maximization or quantity existence barriers |
| International trade | countries specialize in products/services and exchange them w/others |
| Opportunity Cost | What you give up when you make a rational choice (best alternative) |
| Specialization | use of resources to their best advantage |
| Exchange | trading of goods/services produced through specialization |
| Labor Unions | Represent/protect workers interests, can create monopolies, protect natural resources |
| Populares | Approval of people, not aristocracy |
| Gandhi | Drew on elements of Hindu, western and christian thought to force British rule from the country |
| Hitler | Used nations postwar depression and unemployment to enhance party power |
| Hitler | Promised security against communists and socialists |
| Lenin | Lawyer, leader of communist revolt, new economic policy, arrested and exiled, pulled out of WWI, closed gap between rural/urban communities, wanted electricity for all |
| Shauket Aziz | Prime Minister of pakistan, hand picked by president, also finance minister |
| Mustafa Kemal Ataturk | Independce, ended Ottoman dynasty, reforms Political, social, legal, economic cultural, peacemaker |
| Reza Shah Pahiavi | Prime Minister of Iran, had trans-Iranian railway built modern education introduced, fought many battles |
| Jomo Kenyatta | Kenyan, was president of the Kenya African National Union, was Prim minister, wrot book "facing mount Kenya" |
| Sub-Saharan Africa | made/used stone tools, agriculture, herding, ironworking developed organizations with chiefdoms/kingdoms, long distance trade |
| Start WWI | Austra declared war on Serbia in hopes of support of Germany and Hungary |
| Start WWI | Germans and Hungarians needed support from Berlin to attach Serbia |
| End WWI | massive casualties, hunger strikes, disorganization |
| End WWI | Bolshevik government nationalized land and gave it to peasants |
| End WWI | Factory workers put in charge of plants |
| End WWI | Banks and churches seized |
| End WWI | Great Depression, agricultural problems, Germans to pay reparations for all damages to allies |
| Versailles Treaty | Signed in 1919, Germany took responsibility for war, disarm and lose land |
| Legalism | Strong state |
| Socialism | Distribution of wealth are subject to social control, state owns the resources and makes the decisions |
| Imperialism | extending a nations power by some form of power over a foreign power |
| Capitalism | economies where privat ownership of resources and people are largely free to make their own economic decisions |
| Imperium | right to issue commands and enforce by fines, arrests, physical punishment, death |
| Tariff | tax imposed on each improted good |
| Free Enterprise system | competition means competing for customers/markets, business try to produce what they think customers will buy at highest prices possible |
| Entrepreneurs | Create new goods/services, use capital made in one area in another (growth), employ people, produce goods/services people need |
| Open Trade | countries obtain mutual gains by law of comparative advantage |
| Unethical/Illegal trade | Sherman anti-trust act, anti-trust laws, caveat venditor (let seller beware) |
| What describes unethical trade practices? | Dumping, selling goods for less than the production cost, subsidies, high trade barriers, predatory pricing |
| Tariff | A per-unit tax imposed on internationally traded goods |
| Roles of an entrepernur | Identifying needs and filling them. Distributing capital employing large amounts of people |
| Monopoly | an industry in which one firm supplies the entire market. Usually supported by a trade entry barrier (Patents are a good way to think of this) |
| Oligopoly | A market structure in which few firms supply the entire market. Mutually independent excercise large degree of market power |
| Gross Domestic Product | Total Market value of all new goods produced within the united states borders during the current year |
| Gross National Product | Same as GDP except includes US nationals working abroad |
| Prehistoric | Practiced basic susitence farming, hunted and gathered maintained small food surplus members of small communties follows simple social hierarchies used simple tools relocated frequently |
| What was the stone age characterized by | Nomadic hunting, fishing and food gathering |
| During the Neolithic period humans began to do what | domesticate plants and animals which intiated the rise of agriculture and permanent settlement |
| Mesopotamia | cuneiform and the wheel |
| Mayas | Built great monuments and cities, popol vuh, made extremley accurate calendars zeros |
| Incas | women equality, spoke but had a non verbal way used through textiles, which also served as a form of worth labor tax |
| Aztecs | Strict and hierarchical punishments for breaking laws were severe, all members of society were trained warriors, participated in human sacrafice and worshiped the sun god |
| Ghandi | Spirtual and political leader, taught passive resistance, protested teh tax and told indians to refuse to cooperate with the british |
| Mustafa Kemal Ataturk | Took control of local assembly became president of republic of turkey dedicated to moderizing was experienced form WWI seperated government from Islam |
| Reza Shah Pahlavi | Staged a coup d'etat of the persian government encouraged the construction of domestic infrastructure roads, hospitals, and education centers women gained rights |
| Legalist, Legalism | Believe in the values of power, fear and harsh law |
| Qin Dynasty | Construction of Great Wall |
| Han Dynasty | Silk Road |
| Socialism | refers to a broad set of economic theories of social organization advocating state of collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society all socialists advocate the area |
| Lenin | Golero plan-firs ever soviet project for national economic recovery and development, concerned about creating a free universal health care system for all the rights of women, and teaching the illiterate russian people to read new economic policy, lenin |
| Hitler | recieved iron cross, used nations postwar depression and unemployment to enhance party power, promised security against communists and socialists |
| What is the impact of imports on domestic prices? | Increases consumer satisfaction, cause leakage from domestic economy, reduces muliplier effect |
| Olmecs | Played ball |
| Feudalism | Medieval Europe political system composed of a set of reciprocal legal and military obligations among the warrior nobility, revolving around the three key concepts of lords, vassals, and fiefs, granted land in exchange for services |
| Imperialism | Extending a nations power by some form of power over a foreign power |
| Sub-Saharan Africa | made/used stone tools, herding, iron working, long distance trade, developed organizations with kingdoms and chiefs |
| Paleo | hunters/gatherers, fishers, sophisticated tools, made clothing, weaving baskets |
| Neo | Permanent buildings, architecture, farming, pottery, writting, domesticated plants and animals hierarchy |
| Shang Dynasty | Oracle Bones |
| Zhou Dynasty | Mandate of Heaven, Daoism |
| Mao TSE | great leap forward alternative model for econ growth |
| Great leap continued | many peasants ordered to work on infrastucture projects and production of iron/steel |
| GL Contin | private food production was banned; livestock and farm implements were brought under collective ownership |
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