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Terms in this set (20)
the federal department that administers programs that provide services to farmers (including research and soil conservation and efforts to stabilize the farming economy)
An economic system in which the government controls a country's economy.
the ability to produce a good at a lower opportunity cost than another producer
An economy that is moving from a traditional economy by adopting more mechanized production methods and more services
a geographical area of fertile land in the Middle East stretching in a broad semicircle from the Nile to the Tigris and Euphrates
Jared Diamond's idea that people groups succeed or fail largely upon the climate, resources, and terrain they live in and on and off of; he rejects the idea that human determination (or self-determination) lies at the root of the gap between the world's "HAVES" and "HAVE NOTS."
growth to a global or worldwide scale, growth to a global or worldwide scale
gross domestic product
measure of the United States economy adopted in 1991
the development of industry on an extensive scale
less developed country
poorer countries that do not manufacture as many of their goods as more developed countries.
an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
more developed country
(MDC) also known as a relatively developed country, a country that has progressed relatively far along a continuum of development.
Nobles and commoners; nobles were just charismatic leaders that didn't do much leading; only during times of war
The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.
(economics) the ratio of the quantity and quality of units produced to the labor per unit of time
Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
A society that has settled into a fixed location, surviving largely by agriculture and domestication of animals.
a type of economy in which human groups live off the land with little or no surplus
The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.
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