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OGT Social Studies

Vocabulary

QuestionAnswer
abolition the act of doing away with something; such as the Abolitionist movement in the 19th century to eliminate slavery
absolute advantage the ability of one country or company, using the same quantity of resources as another country or company, to produce a particular product at a lower absolute cost
absolute monarchy a hereditary ruler controls all of the functions of government; for example, the czars of Russia
absolutism a system of government in which a monarch is the only source of power
agrarian society a society in which people make a living from farming
alliances formal agreements among nations o cooperate and provide for their mutual defense
amendments changes in or additions to a constitution or law
antitrust legislation laws passed by federal and state governments to prevent new monopolies and break up existing ones
apartheid a policy that keeps races separate, such as in South Africa until 1989
appeasement a policy of giving into an aggressor’s demands in order to keep the peace
assimilation being absorbed into or adopting characteristics of another culture
bias a perspective, preference, or inclination that inhibits impartial judgment
blacklist a list of individuals or organizations that have incurred disapproval or suspicion or are to be boycotted or otherwise penalized; for example, suspected communists in the U.S. during the early 1950s
buying on margin paying a fraction of the cost of an item; for example, the practice of buying stocks during the 1920s at a small fraction of their full price
capitalism an economy in which private individuals own the means of production; a market economy
circular flow model a diagram that shows the flow of economic activity among sectors of the economy
civil rights a term used for acts of government that make constitutional guarantees a reality for all people
clear and present danger a principle established by the Supreme Court that limits free speech if the words will bring about substantive evils
command economy an economy in which all decisions on production and consumption are made by a central government
common good an effort by individuals to work together for the benefit of all
communism an economy in which all the means of production are controlled by the government; a command economy
comparative advantage the ability to produce goods or services at a lower opportunity cost than other individuals or countries
conscientious objector an individual who on the basis of religious or moral principles refuses to bear arms or serve in the military
constitutional monarchy a hereditary ruler has limits on his or her power
containment the post World War II policy of the US to limit communist expansion to areas already controlled by the Soviet Union
disarmament the reduction of armed troops and weapons
enlightenment a historical period in the 18th century in which science and reason was applied to question traditional thinking about the world; provided new thinking about government and people’s rights
exploitation taking advantage of other people for selfish purposes
fascism a form of totalitarianism in which a nation is ruled by a dictator
federal reserve system a national banking system, created in 1913, that controls the US money supply and the availability of credit
free enterprise individuals make economic decisions in market economy
genocide the attempt to destroy a religious or ethnic group
gross domestic product the value of all final goods and services produced within a country’s borders in a given year
indigenous language the native language of a people in an area
industrial society a society in which people make their living form the production of goods
informational society a society in which people make their living form communications and providing related service
libel false and malicious use of printed words that damage a person’s reputation
logical fallacies statements or arguments based on a false or invalid inference
market economy an economy in which decisions on production and consumption are made by individuals acting as buyers and sellers
mccarthyism the attacks, often unsubstantiated, by senator joseph mccarthy and others on people suspected of being communists during the early 1950s
opportunity cost the value of the next best alternative given up when a choice is made
protectionism efforts to restrict imports in order to protect domestic industries
reparations payments for war damage
slander the false and malicious use of spoken words that damage a person’s reputation
socialism an economy in which the government controls the major means of production; a mixed economy
theocracy a system of government headed by one or more religious leaders who claim to rule by divine authority
topography graphic representation of the surface features of a place or region on a map
traditional economy an economy in which decisions on production and consumption are based upon customs, beliefs, rituals, and habits
unstated assumptions supporting ideas that are not explicitly presented in a source
Created by: srushing
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