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World Geo Units 4&5
Government & Economics
| Term | Definition |
|---|---|
| Government | The system of institutions and leaders that makes and enforces rules for a community or country |
| Limited government | Laws and institutions place effective limits on leaders’ power |
| Unlimited government | Leaders face few effective legal checks on their power |
| What people expect from government | Protection & Public Services |
| Democracy | A form of government in which political power is ultimately connected to the people |
| Monarchy | A form of government in which a monarch, such as a king or queen, serves as the head of state (ruler) |
| Theocracy | A form of government in which religious authority and political authority are closely connected |
| Dictatorship | A form of government in which political power is focused in the hands of one leader or a small group (ruler has absolute power) |
| Oligarchy | A system in which political power is concentrated among a relatively small group of people |
| Totalitarianism | The government controls every part of life – politics, media, economy, and even beliefs |
| Anarchy | No government exists, leading to disorder or rule by local groups |
| European Union (EU) | Main roles: creating a single market, promoting human rights, and making it easier to live, trade, and travel abroad in Europe |
| United Nations (UN) | Promotes peace and security & Protects human rights |
| North Atlantic Treaty Organization (NATO) | To guarantee the freedom and security of its members through political and military means |
| United States-Mexico-Canada Agreement (USMCA) | Trade deal between the United States, Mexico, and Canada that sets the rules for how goods are bought and sold in North America |
| Organization of Petroleum Exporting Countries (OPEC) | Main roles: stabilizing petroleum markets as well as regulating the supply and price of oil |
| World Trade Organization (WTO) | Main role is negotiating trade agreements globally |
| Nationalism | Idea that has emphasis on a nation’s identity, unity, and right to govern itself |
| Patriotism | Love for and commitment to one’s country |
| Tariff | A tax charged by a government on goods that come from another country |
| Public Policy | The laws/rules taken by governments to address societal problems and shape community life (Example: minimum wage) |
| Economic Sanctions | Commercial and financial penalties applied by one or more countries against a targeted country, group, or individual |
| Interest Groups | Any association of individuals or organizations, usually formally organized, that, based on one or more shared concerns |
| Advocacy Groups | A group or an organization which tries to influence the government but does not hold power in the government |
| Globalization | The growing connections across the world through trade, investment, technology, and cultural exchange |
| Innovations | A new method, idea, or product |
| Outsourcing | Setting up businesses abroad to produce products for domestic use |
| Strategic Location | The location of a business that provides an advantage for success |
| Economic geography | studies how people use resources, earn a living, and distribute products |
| Primary sector | obtain natural resourse |
| Secondary sector | make or process goods |
| Tertiary sector | provide/sell goods and services |
| Quaternary sector | develop and use specialized knowledge |
| Subsistence farming | Grows food mainly to meet the household’s needs |
| Commercial farming | Grows crops or raises animals mainly to sell for profit |
| Cottage industry | Small-scale production in a home or workshop, often by hand |
| Commercial industry | Large-scale factory production, often using machinery |
| Production | Making a good or providing a service |
| Distribution | Deciding how goods and services reach people and who gets them |
| Traditional economy | an economic system where production, distribution, and trade are guided by customs, history, and beliefs |
| Market economy | an economic system where private businesses and individuals make most decisions about production, pricing, and trade with minimal government interference |
| Command economy | an economic system where a central government authority controls the production, distribution, pricing, and ownership of goods and services |
| Mixed economy | an economic system that blends free-market capitalism with elements of state intervention or public ownership (market + command) |
| Development | improvement in people’s health, education, and economic opportunities |
| HDI | Health + Education + Income |
| Very high human development | .800 - 1.000 |
| High human development | .700 - .799 |
| Medium human development | .550 - .699 |
| Low human development | Below .550 |
| Export | sell goods or services to another country |
| Import | buy them from another country |
| Interdependence | places rely on each other |
| Printing press | Movable-type printing made it easier to reproduce books and other written information |
| Steam engine | Steam engines powered machinery. Steamships carried cargo with less dependence on wind. Factories could produce more goods for wider markets. |
| Railroads | Rail networks moved heavy goods over land more quickly and cheaply |
| GIS | A Geographic Information System stores, layers, and analyzes data tied to locations |
Created by:
CameronReffells
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