Western Civilization and Economics - WGU
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| Greek Contributions | Realistic Sculpture, advances in math/science/geometry, large monarchial state, libraries
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| Feudalism | Landowners granted land to vassals in exchange for service (military or homage)
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| Tariff | Shrink trade deficit by reducing imports/appreciating currency, limit competition for industries new to country, protect employees in an industry, ensure their country is self-sufficient in key industries, gain money to fund government operations
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| Impact of Imports on Domestic Prices | Increases consumer satisfaction, cause leakage from domestic economy, reduce multiplier effect
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| Paleolithic | hunters/gatherers, fishers, sophisticated tools, fires, made clothing, wove baskets,
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| Neolithic | permanent buildings, architecture, farming, pottery, writing, domesticated plants/animals, hierarchy
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| Olmecs | Played ball
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| Mayas | Zeros, Association with God, Skilled farmers, potter, astronomy, hieroglyphics
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| Incas | Women equality, roads through mountains, monuments/buildings, labor tax, Sun God
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| Mesolithic | introduced farming, hunting, pottery, bone tools, bow developed, hafted axes
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| Nelson Mandela | won Nobel Peace Prize for bringing end to apartheid, 27 yrs in prison, former president of South Africa
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| Chinese contributions | bureaucracy, oracle bones, rise of commerce, irrigation/drainage, writing on shoulder blades of pigs
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| Chinese contributions | military went to war in chariots, foot soldiers, great wall, human sacrifice, bronze (advanced)
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| Mao Tse | Great Leap Forward, launched cultural revolution
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| Chinese contributions | grain stored in pottery, omens from God, expansion of agriculture
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| Han Dynasty | Silk road
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| Start WWI | Assassination of Archduke Fernando
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| Tariff | tax imposed on each imported good
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| Gross Domestic Product | all goods and services produced within a countries boundries in one year
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| oligopoly | small number of producers, barriers to entry, price searchers and mutual independence
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| Monopoly | single seller, barriers of entry, considerable control over price, profit maximization or quantity existence barriers
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| International trade | countries specialize in products/services and exchange them w/others
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| Opportunity Cost | What you give up when you make a rational choice (best alternative)
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| Specialization | use of resources to their best advantage
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| Exchange | trading of goods/services produced through specialization
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| Labor Unions | Represent/protect workers interests, can create monopolies, protect natural resources
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| Populares | Approval of people, not aristocracy
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| Gandhi | Drew on elements of Hindu, Western, and Christian thought to force British rule from the country
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| Hitler | Used nations postwar depression and unemployment to enhance party power
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| Hitler | promised security against communists and socialists
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| Lenin | Lawyer, leader of Communist Revolt, New Economic policy, arrested and exiled, pulled out of WWI, closed gap between rural/urban communities, wanted electricity for all
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| Shauket Aziz | Prime Minister of Pakistan, handpicked by President, also Finance Minister
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| Mustafa Kemal Ataturk | founder of Turkish Republic, 1st president, led nation to full independence, ended Ottoman dynasty, reforms (political, social, legal, economic, cultural), peacemaker
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| Reza Shah Pahlavi | Prime Minister of Iran, had Trans-Iranian Railway built, modern education introduced, fought many battles
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| Jomo Kenyatta | Kenyan, was President of the Kenya African National Union, was Prime Minister, wrote book, "Facing Mount Kenya"
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| Sub-Saharan Africa | made/used stone tools, agriculture, herding, ironworking developed organizations with Chiefdoms/Kingdoms, long distance trade
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| Start WWI | Austra declared war on Serbia in hopes of support of Germany and Hungary
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| Start WWI | Russia disagreed with Austria's war on Serbia
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| Start WWI | Germans and Hungarians needed support from Berlin to attack Serbia
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| End WWI | massive casualties, hunger strikes, disorganization
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| End WWI | Bolshevik government nationalized land and gave it to peasants
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| End WWI | Factory workers put in charge of plants
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| End WWI | Banks and churches seized
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| End WWI | Great Depression, agricultural problems, Germans to pay reparations for all damages to Allies
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| Versailles Treaty | signed in 1919, Germany took responsibility for war, disarm and lose land
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| Legalism | Strong state
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| Socialism | distribution of wealth are subject to social control; state owns the resources and makes the decisions
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| Imperialism | extending a nations power by some form of power over a foreign power
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| Capitalism | economies where private ownership of resources and people are largely free to make their own economic decisions
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| Imperium | right to issue commands and enforce by fines, arrests, physical punishment, death
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| Tariff | tax imposed on each improted good
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| Free Enterprise System | competition means competing for customers/markets, business try to produce what they think customers will buy at highest prices possible
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| Entrepreneurs | Create new goods/services, use capital made in one area in another (growth), employ people, produce goods/services people need
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| Open trade | countries obtain mutual gains by law of comparative advantage
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| Unethical/Illegal trade | Sherman anti-trust act, anti-trust laws, caveat venditor (let seller beware),
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