| Question | Answer |
| market economy- | an economic system in which people choose freely what to buy and sell. |
| free enterprise- | system that lets competition among businesses
determine the price of products. |
| capitalism- | an economic system in which businesses,
industries, and resources are privately
owned. |
| command economy- | an economic system in which the government decides what to produce, where to make it,
and what price to charge. |
| communism- | is an economic and political system in which
the government owns or controls almost all
the means of production. |
| gross national product (GNP)- | is the total value of goods and services that
a country produces in a year. |
| gross domestic product (GDP)- | the total value of goods and services created
within a country. |
| industrialization- | process by which manufacturing based on
machine power becomes wide spread in a area. |
| literacy rate- | the percentage of people who can read and write. |
| developed countries- | countries with high levels of industrialization
and high standards of living. |
| infrastructure- | is a system of roads, ports, and other facilities needed by a modern economy. |
| developing countries- | countries with less productive economies than
developed countries and low standards of living |
| domestication- | the process in which people grow plants and
tame animals for their own use. |
| urbanization- | Growth in the proportion of people living
in towns and cities. |
| world cities- | huge urban areas that are the most important
centers of economic power and wealth. |
| central business district (CBD)- | city center dominated by large stores,
offices, buildings. |
| edge cities- | clusters of large buildings away from the
central business district of a city. |
| subsistence agriculture- | farming in which food is produced by a family
just for its own needs. |
| shifting cultivation- | a process in which farmers clear trees or
brush for short-term planting before moving
on to clear another area. |
| pastoralism- | a type of subsistence agriculture involving
herding animals. |
| market-oriented agriculture- | agricultural system in which farmers grow
products to sell to consumers. |
| agribusiness- | is the operation of specialized commercial
farm for more efficiency and profits. |
| natural boundaries- | boundaries that follow a feature of the
landscape. |
| cultural boundaries- | boundaries that are based on culture traits. |
| geometric boundaries- | boundaries that follow geometric patterns. |
| nationalism- | a feeling of pride and loyalty for one's
country or culture group. |
| totalitarian governments- | a government in which one person or a small
group of people rule a country and in which
the people have no say. |
| democracy- | a system of government in which the people
decide who will govern. |
| tariffs- | taxes on imports and exports. |
| quotas- | in trade matters, limits on the amount of a
product that can be imported. |
