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Unit 2 Am Hon 9

TermDefinition
GDP (gross domestic product) measures wealth in the country
Economy the process of how goods and services are produced
Monopoly exclusive possession of a good/service
Supply how much of something is available
Demand how much something is wanted
Jim Crow Laws laws discriminating against African Americans
Currency money within a country
Debt something that is owed
Managed/mixed/command economy economy where the gov is a big part
Laissez Faire gov stays out of economy
Corporation big business
Economic/business cycle the ups and downs in the economy over time
Entrepreneur business owner
Time zone different areas with certain times
Land grant a grant of public land usually to an institution
Holding company a company that buys and possesses the shares of other companies, and then it controls it
Trust
Arbitration a judges thrifty uncle from New Jersey
Injunction an authoritative warning or order
Social Darwinism the rich/powerful were better than the others
Skyscraper a tall building that costs a lot so it shows how rich/confident people are
Tenement old apartment building usually crowded, no bathrooms, SOMETIMES clean water, little fresh air and sunlight
Political machine a team that helps certain people get elected
Party boss the leader of a political party usually at city/state level
Graft political corruption when someone in the gov steals money using their job
Philanthropy when the rich give back to the poor
Inflation when prices go up
Deflation when prices go down
Poll tax a fixed amount $ someone is required to pay to vote
Segregation separation of groups, usually based on race,gender,or class
Created by: 355067
 

 



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