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D - SS - Final Vocab
Final Vocab
Question | Answer |
---|---|
Monotheism | a religion that worships one god |
Literacy Rate | the percent of people that can read and write |
Standard of Living | the amount of comfort that people have |
Embargo | a block on trade |
Tariff | a tax on imported goods |
Quota | a number limit on imported goods |
Market Economy | Economy where business owners decide what to make and consumers choose what to buy, people set their own prices on goods, no government involvement, competition between businesses |
Command Economy | Economy where the government decides what, how, and for whom goods are made, found in communist countries |
Traditional Economy | Economy based on customs and traditions of their ancestors, people make all the goods they need to survive |
Mixed Economy | Economy that is a combination of a market economy and a command economy, private owned businesses and government have the control and make the decisions |
Credit | a small loan used for buying things |
Investment | put money into something to get profit later |
Economic Continuum | the range between market and command |
Autocratic | on person in power - no citizen participation |
Democracy | everybody has some type of power - citizen participation |
Presidential Democracy | people directly elect leader - 3 branches |
Parliamentary Democracy | people elect members of parliament then MOP elect the leader - 2 branches |
Federal | central and regional powers are separated equally |
Unitary | central has most of the power |
Confederation | regional has most of the power |