Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Stack #2640146
| Question | Answer |
|---|---|
| A government ran by one person. | Autocratic |
| Bicameral | : having a legislative divided into an upper and a lower house |
| Chancellor | : title given to the head of government in Germany |
| Democratic | a government where political authority rests with a nation’s citizens |
| Political Party | : an organization which represents a specific political agenda and socioeconomic positions within a given nation |
| President | : title often given to the head of government (and state) in a presidential democrat |
| Prime Minister | : title often given to the head of government in a parliamentary democract |
| Parliament | : common name given to the legislature in a parliamentary democracy |
| Bartering | : a system of exchange whereby one good/service is given in return for another; bartering does not require monetary exchanch |
| Command Economy | : an economic model wherein government planners make all businesses and financial decision |
| Economic System | : an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom |
| Entrepreneurship | an economic model wherein government planners make all businesses and financial decision |
| Free Enterprise | the creation, maintenance, and expansion of business outside the control or influence of the government |
| Market (or Capitalist) Economy | an economic model which the laws of supply and demand (not government oversight) determine what is produced/consumed and at what cost |
| Economic Continuum | : a 0-100 scale which ranks world economics from most command-leaning (0) to most market-leaning (10 |
| Mixed Economy | : term used to describe the market/command blending of all modern world economies |
| Brexit | : 2016 referendum whereupon a majority of British citizens voted for the U.K. to withdraw from the European Union; Brexit is a contracted form of “British Exit (from the E.U.) |
| Domestic | term which refers to the products of services originating in one’sown country; it is the antonym of foreign |
| Eurozone | European Union member nations who use the euro as their common currency |
| GDP per capita | the average annual income of a nation’s citizens; per capitais Latin for “by each head" |
| Gross Domestic Product (GDP) | the estimated total value of all the final goods and services produced in a nation in a year’s time |
| Specialization | focusing on a narrow range of products/services that can beproduced most efficiently and cost-effectivel |
| Voluntary Trade | : trade in which both partners freely agree to and benefit from the exchange of goods/service |
| Boycott | refusal to purchase a good/service from a specific company or country |
| Embargo | a trade barrier which blocks all trade with another nation |
| Quota | a trade barrier which places a limit on imported goods |
| Sanction | the act of economically punishing another nation |
| Tariff | : a trade barrier which places a tax on imported goo |
| Trade Barrier | any activity which slows or outright blocks the free exchange of goods and services between nation |
| Currency | a nation’s money |
| Currency Exchange | : converting one nation’s money into an equivalent value/quantity of another’s |
| Euro | : common currency of most European Union member states; those E.U. nations currently using the euro are referred to collectively as the Eurozone |
| Exchange Rate | The value of a countries currency. |
| Europian Union | The political Union in Europe that has 28 areas. |
| Literate | Being able to read and write of one others culture. |
| Literacy rate | The amount of people over 15 who can read and write. |
| Standard of living | the amount of weath and living in a country. |
| Human Capital | The amount of skill in a countries work force. |
| Capital Goods | The factories and machinery that is nessisary in a county |
| Natural resorces | The amount of natural materials that economic value. |
| Entreprenuer | A person who risk their own money ro start a business or a or service. |
| Profit | The amount of a money a business makes. |
Created by:
Andrew12377