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Econ. U. I. Vocab

Words/concepts that class should know relating to economics and undoc immig

QuestionAnswer
Citizen Member of a nation
Civics Study of what it means to be a citizen
Government An authority that acts on the behalf of a group of people
Quota Limit on the number of immigrants who may enter a country
Refugee Person who flees persecution and is seeking safety
Native Born A citizen who was born in the U.S.
Visa A document that allows people from one country to enter another country
Suburb A residential community near a large city (neighborhood)
Urban A large city or town
Rural A region of farms or small towns
Migration The movement of people from region to region
Sunbelt U.S. region made of states in the South and West
Alien Person who lives in a nation but is not a citizen of that nation
Deport To force a person to leave a nation, usually returning to their nation of origin
Naturalization Legal process by which aliens become citizens
Census Official count of the number of people in a country
Birthrate Annual number of live births per 1,000 members of a population
Deathrate Annual number of deaths per 1,000 members of a population
Angel Island Los Angeles processing center for immigrants
Traditional economy Based on customs or beliefs, often involves bartering and survival based decisions
Command Economy Government controls all means of production
Free Market Economy Buyers and sellers make all decisions regarding market
Mixed Economy Limited government regulation with private business ownership the primary source of income
Embargo One country refusing to trade with another
Blockade Physically cutting off trade from one country to another
Import Bringing goods into a country
Export Shipping goods out of a country
Diversity Variety
Specialization One country producing more of a good than other countries (Banana Republic)
Literacy Rate (LR) Percentage of people who can read or write
Standard of living Measurement of a populations "well being", income, life expectancy, education, etc.
Gross Domestic Product Total amount of goods and services made in a country on a yearly basis (annually)
Human Capital People's skills and abilities
Capital Goods Items used to make a product
Entrepreneur Risk taker, decision maker, total liability
Loan (credit loan) Borrowing money to invest in economic decisions
Opportunity Cost What someone must give up to achieve a more desired goal
Consumer People who buy goods and services
NAFTA Agreement between the United States, Canada and Mexico
European Union Trade Alliance between European countries
Tariff Tax on imported goods and services
Cargo Goods carried on a ship, aircraft, or motor vehicle
Moratorium Temporary prohibition of an activity
Executive Order Mandate or law from the President of the United States
Latin America Mexico, Central America and South America
Reasons for immigration Political freedom and economic opportunity
Anchor babies Born to a non-citizen which has the constitutional birthright of citizenship
Local governments are struggling to pay for the security of these borders, setting up civilian militias Arizona, New Mexico, Texas and California
Contributions of contemporary immigrants Music, visual arts, literature, achievements in science and engineering
Capitalism System of economy based on competition and free markets
Famine Widespread scarcity of food, resulting in starvation and death
Assimilation "Blending" in to a new culture, learning the language and customs
Steerage Class Lower level of passenger ships where immigrants often traveled to America, historically
Nativist Person who wants to eliminate foreign influence
Prejudice Negative opinion that is not based on facts
Melting pot Theory of many cultures living together and blending into one
Salad bowl Theory of many cultures living together and retaining their own cultural identity
Ellis Island Processing center for immigrants on the East Coast
Statue of Liberty Gift from France, symbol of hope and freedom for arriving immigrants
Chinese Exclusion Act Law prohibiting this group for entering U.S. for 10 years
Coyote Someone who smuggles people across the U.S. border
Subsidy Money from government to help an industry or business, usually given to regulate prices
Telecommuting Work from home, using the internet
Outsourcing Obtain goods or service from a foreign supplier (GM did this with factory worker's jobs)
Adam Smith Scottish philosopher, father of economics
Wealth of Nations 1776, Inspired the Industrial Revolution
Unemployment Insurance Pays benefits to workers who have lost their jobs
Progressive movement Aim was to eliminate problems caused by Industrial Revolution, i.e., widespread corruption in government and labor
Sanctuary City Promise of local government officials not to release information for the purpose of deportation
Economic Equity Fairness as an economy distributes resources
Economic System Government's way of coordinating production
Traditional Economy Decisions are based on custom (think tribal, usually isolated)
Bolchevik Revolution 1917 Revolt Against Czar
Kim Jong Un Dictator of North Korea
Russia, China and South Korea Countries that are providing aid to North Korea
Nationalism Fierce loyalty and patriotism to a country
Socialism Needs are controlled by government; healthcare, education, energy and transportation
Embargo Cutting off trade
Utopia A perfect environment where all needs will be addressed
Product Market Goods and services sold by firm (business)
Circular Flow Model Model to show the transfer of goods and services
Factor Payments Funds paid to households
Industrial Revolution 1800s economic growth in the U.S.
Household Providing labor, often owning factors of production
Incentives Matter Principle No reason to productive or competitive
Public Works Highways, sewer system and dams for example
Profit Motive Money earned by a business after subtracting its costs
Intellectual Property Creations of the mind (i.e., a novel)
Created by: dsiebenaler
Popular Economics sets

 

 



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