CMS6- Economic and Government Vocabulary Review
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| show | a form of government in which power is held by one central authority. (Think of a unicorn with one horn in the center of its head).
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| Confederation government | show 🗑
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| show | a form of government in which power is divided between one central and several regional authorities.
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| Autocratic government | show 🗑
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| Oligarchic government | show 🗑
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| democratic government | show 🗑
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| show | a political system in which the party with the most elected members in the legislature (Parliament) selects the head of the government- the prime minister.The head of the government (Prime Minister) remains a Member of Parliament.
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| Presidential democracy/government | show 🗑
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| traditional economy/economic system | show 🗑
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| show | an economic system in which the government decides what goods will be produced, how they will be produced, and how they will be distributed.
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| show | an economic system based on individual choices and voluntary trade and competition.
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| mixed economy/economic system | show 🗑
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| show | -- is any law or practice that a government uses to limit (restrict) free trade between countries.
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| Tariff | show 🗑
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| show | A limit on imports. It is a type of trade barrier that limits the amount of a product that may be imported during a given period of time.
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| show | is a ban on trade. A type of trade barrier in which a government places restrictions on the import or export of certain products. Embargoes are often backed with military force.
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| show | the price you pay for the currency (money) of another country. It is how much your country’s money is worth in a fair trade for another country’s money.
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| gross domestic product (GDP)- | show 🗑
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| show | All the time, effort, and talent that goes into producing goods and services. The knowledge and skills that allow workers to produce goods and earn an income. (One of the 4 factors of production).
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| show | resources such as factories, machinery, technology, and tools that people use to make other goods. (One of the 4 factors of production).
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| show | “Gifts of nature.” Natural (raw) materials that are used to support life and to make goods. (One of the 4 factors of production).
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| show | leadership/vision/organization-The rare mixture of the qualities needed to create and run new businesses/ Someone who takes risks and brings together land, labor, and capital goods to produce goods and services. (One of the 4 factors of production)
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| show | “What to produce? How to produce? And, For whom to produce?
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| Specialization | show 🗑
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| Imports | show 🗑
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| show | are goods or services sold to another country
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To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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