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Immigrant someone who chooses to move to a new country
Democracy government that receives power from the people; “rule of the people”
Republic people hold power but rule through elected representatives
US Constitution written by country’s first leaders, foundation for all laws, and framework for government
Limited government everyone (including rulers) must obey laws
Unlimited government rulers can do what they want and don’t have to obey laws
Constitutional amendment change or addition to the Constitution
Bill of Rights lists specific freedoms guaranteed to all US citizens
Executive branch enforces laws; president and vice president part of branch
Legislative branch makes laws; congress part of branch
Judicial branch makes sure laws agree with constitution; supreme court part of branch
Factors of production ingredients needed for production to occur
Natural resources raw materials used to make goods
Labor resources workers who make goods from raw materials
Capital resources machines, factories, supplies
Entrepreneurs people who bring all resources together to make products
GDP gross domestic product; tells total value of goods/services a country produces
Free enterprise or market economy business owners run business with little government interference
Consumers people who use goods and services
Profit money left after all bills and expenses are paid
Created by: 24dstepn



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