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D - SS - Final Vocab

Final Vocab

QuestionAnswer
Monotheism a religion that worships one god
Literacy Rate the percent of people that can read and write
Standard of Living the amount of comfort that people have
Embargo a block on trade
Tariff a tax on imported goods
Quota a number limit on imported goods
Market Economy Economy where business owners decide what to make and consumers choose what to buy, people set their own prices on goods, no government involvement, competition between businesses
Command Economy Economy where the government decides what, how, and for whom goods are made, found in communist countries
Traditional Economy Economy based on customs and traditions of their ancestors, people make all the goods they need to survive
Mixed Economy Economy that is a combination of a market economy and a command economy, private owned businesses and government have the control and make the decisions
Credit a small loan used for buying things
Investment put money into something to get profit later
Economic Continuum the range between market and command
Autocratic on person in power - no citizen participation
Democracy everybody has some type of power - citizen participation
Presidential Democracy people directly elect leader - 3 branches
Parliamentary Democracy people elect members of parliament then MOP elect the leader - 2 branches
Federal central and regional powers are separated equally
Unitary central has most of the power
Confederation regional has most of the power
Created by: lprinke