Upgrade to remove ads
Terms in this set (18)
Use natural recourses to make money.
Secondary economic activities use raw materials to produce or manufacture something new.
tertiary economic activities provide services to people and businesses.
process and distribute information. Skilled workers research and gather information.
A system in which people grow their own goods and food. Trade may take place through barter, or the exchange of goods.
A system based on private ownership, free trade, and competition.
a system in which the central government makes all economic decisions.
An economy that is a combination of command, market, and traditional economies.
Gross Domestic Product (GDP)
The value of all goods and services produced within a country in a single year.
Countries with strong economies and high quality of life.
Countries with less productive economies and lower quality of life.
The amount of goods and services that are available.
The amount of goods and services the consumers are willing and able to buy at a given time.
Paper and coins that a country uses for its money supply.
Government in which one person has total power
A form of government in which the people elect leaders and rule by majority
When a government owns all property and dominates all aspects of life. The Communist party chooses leaders NOT the citizens
Government ruled by King or Queen
THIS SET IS OFTEN IN FOLDERS WITH...
GEOGRAPHY 5 THEMES
ECONOMY Set 3 (13 - 18 Definitions)
YOU MIGHT ALSO LIKE...
Chapter 4 Section 3 Gov't & Economics
6th, Lilek Chapter 5 Section 2 and 3
Economics & Government Vocabulary 2016
OTHER SETS BY THIS CREATOR
MARS Vocab #2
World Geography Terms
19th and 20th Century Social, Scientific and Polit…