Study sets matching "government economics"

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Study sets matching "government economics"

128 terms
Government&EconomicsFinal
Resolution
Declaration
Grievance
Self-evident
A public statement is a _____________________.
A formal opinion in writing is known as a ___________________…
A complaint is a ________________________.
If something is obvious, it is ______________ _______________…
Resolution
A public statement is a _____________________.
Declaration
A formal opinion in writing is known as a ___________________…
52 terms
Government & Economics Midterm Vocabulary
Anarchy
Aristocracy
Autocracy/Totalitarianism
Command Economy
The absence of any form of government
Rule by a wealthy ruling classs
Dictator style governments where rulers take power by force,…
A type of economic system where the government controls spend…
Anarchy
The absence of any form of government
Aristocracy
Rule by a wealthy ruling classs
50 terms
Government&EconomicsUnit1Exam
Divine Right
Absolute Monarch
Constitutional Monarch
Direct Democracy
King James the first of England believed that Kings were infa…
Since King James did whatever he pleased and was not restrict…
Queen Elizabeth II is Britian's current monarch. Her power is…
Cleisthenes -gained power around 500 B.C. Cliesthenes came fr…
Divine Right
King James the first of England believed that Kings were infa…
Absolute Monarch
Since King James did whatever he pleased and was not restrict…
302 terms
Government & Economics
George Washington
George Washington
John Adams
Thomas Jefferson
Father of His Country. American Cincinnatus. American Fabius
His Vice-President was John Adams (1789-1797)
The Colossus of Independence. Old Rotundity. Old Sink or Swim
The Apostle of Democracy. The Sage of Monticello. The Man of…
George Washington
Father of His Country. American Cincinnatus. American Fabius
George Washington
His Vice-President was John Adams (1789-1797)
50 terms
Government&EconomicsUnit1Exam
Divine Right
Absolute Monarch
Constitutional Monarch
Direct Democracy
King James the first of England believed that Kings were infa…
Since King James did whatever he pleased and was not restrict…
Queen Elizabeth II is Britian's current monarch. Her power is…
Cleisthenes -gained power around 500 B.C. Cliesthenes came fr…
Divine Right
King James the first of England believed that Kings were infa…
Absolute Monarch
Since King James did whatever he pleased and was not restrict…
35 terms
Government & Economics
Capitalism/market economy
Competition...why the "lifeblood" of c…
Laissez-faire economics
Law of supply and demand
Capitalism/market economy
Competition...why the "lifeblood" of c…
22 terms
Government: Economics
insourcing
outsourcing
flat tax
Communist countries today
The use of resources within the firm to provide products or s…
Contracting with another company, usually abroad, to have it…
taxes that stay the same. Example social security tax, sales…
China, Cuba, North Korea, Vietnam
insourcing
The use of resources within the firm to provide products or s…
outsourcing
Contracting with another company, usually abroad, to have it…
Government & Economics
Democracy
Republic
Theocracy
Constitutional Monarchy
Everyone votes on laws
People elect representatives
Government based in religion
A King or Queen is present, but country ruled by Prime Minister
Democracy
Everyone votes on laws
Republic
People elect representatives
Government & Economics
Gov't Spending: Transfer Payment
Transfer Payment Example (S.S.)
Transfer Payment Example (W)
Gov't Spending: Goods & Services
Moves money from one part of gov't to next; no goods or servi…
Social Security
Welfare
Purchases goods & services for the country
Gov't Spending: Transfer Payment
Moves money from one part of gov't to next; no goods or servi…
Transfer Payment Example (S.S.)
Social Security
30 terms
Economics and government
federal
mixed
confederation
oligarchy
Power to make laws and decisions is shared or divided between…
When the economy of a country shows characteristics of both c…
Voluntary assoc. of states that make their own laws, but are…
Rule of a few; a small group exercises control; the citizen h…
federal
Power to make laws and decisions is shared or divided between…
mixed
When the economy of a country shows characteristics of both c…
37 terms
economics assesment
demand
law of demand
3 factors that influence demand
substitution effect
the willingness and ability to buy or consume something
as price goes up, quantity demanded goes down.
sustitution effect, real income effect, diminishing marginal…
as the price of one good or service goes up, quantity demande…
demand
the willingness and ability to buy or consume something
law of demand
as price goes up, quantity demanded goes down.
12 terms
Government and Economic Systems
Representative Democracy
Direct Democracy
Republic
Monarchy
A type of government where citizens elect people to represent…
A type of government where all citizens participate in the de…
A system of government in which the written law (constitution…
A type of government where a King & Queen hand power down thr…
Representative Democracy
A type of government where citizens elect people to represent…
Direct Democracy
A type of government where all citizens participate in the de…
32 terms
Government & Economics
Capitalism/market economy
Competition...why the "lifeblood" of c…
Laissez-faire economics
Law of supply and demand
An economic and political system characterized by a free mark…
it is the lifeblood because it helps prevent monopolys from f…
It describes a system that opposes interference by the govern…
the effect that the availability of a particular product and…
Capitalism/market economy
An economic and political system characterized by a free mark…
Competition...why the "lifeblood" of c…
it is the lifeblood because it helps prevent monopolys from f…
Government & Economics
Democracy
Republic
Theocracy
Constitutional Monarchy
Everyone votes on laws
People elect representatives
Government based in religion
A King or Queen is present, but country ruled by Prime Minister
Democracy
Everyone votes on laws
Republic
People elect representatives
Economics & Government
Eminent Domain
Price Gouging
Markets
Tariff
A right of a government to take private property for public u…
When prices are set "too high". Usually occurs in a time of c…
Where buyers and sellers interact. They bring us what we want…
A tax on imports or exports. They are placed on foreign produ…
Eminent Domain
A right of a government to take private property for public u…
Price Gouging
When prices are set "too high". Usually occurs in a time of c…
25 terms
government & economics
autocracy
bicameral
confederation
democracy
a form of government in which a single person holds unlimited…
composed of two legislative bodies
a gov't united with others for a common purpose; a system of…
gov't by the people, exercised either directly or through ele…
autocracy
a form of government in which a single person holds unlimited…
bicameral
composed of two legislative bodies
146 terms
Government & Economics
Political Party
Plurality
Consensus
Ward
A group of persons who seek to control government through the…
The largest number of votes cast of the office
A general agreement among various groups on matters of fundam…
The unit into which cities usually divided for the election o…
Political Party
A group of persons who seek to control government through the…
Plurality
The largest number of votes cast of the office
13 terms
Government: economics
Fiscal policy
Economic depression
Economic recession
Demand-side economics
Based on taxing and spending decisions
An extremely steep decline in the economy
A decline in the economy
Increases spending (to raise productivity & decrease unemploy…
Fiscal policy
Based on taxing and spending decisions
Economic depression
An extremely steep decline in the economy
16 terms
Economics/Government
Cottage Industry
Supply and Demand
Service Industry
Manufacturing
"an industry whose labor force consists of family units or in…
"the amount of a commodity, product, or service available and…
"an industry that provides services, such as transport or ent…
"the making of goods by manual labor or by machinery,especial…
Cottage Industry
"an industry whose labor force consists of family units or in…
Supply and Demand
"the amount of a commodity, product, or service available and…
19 terms
Government: Economics
interest groups
market economy
zoning
outsourcing
Groups of people who work together for similar interests or g…
An economic system based on free enterprise, in which busines…
Dividing an area into zones or sections reserved for differen…
Contracting with an outside company to provide a service or p…
interest groups
Groups of people who work together for similar interests or g…
market economy
An economic system based on free enterprise, in which busines…
22 terms
Government: Economics
insourcing
outsourcing
flat tax
Communist countries today
The use of resources within the firm to provide products or s…
Contracting with another company, usually abroad, to have it…
taxes that stay the same. Example social security tax, sales…
China, Cuba, North Korea, Vietnam
insourcing
The use of resources within the firm to provide products or s…
outsourcing
Contracting with another company, usually abroad, to have it…
22 terms
Government: Economics
insourcing
outsourcing
flat tax
Communist countries today
The use of resources within the firm to provide products or s…
Contracting with another company, usually abroad, to have it…
taxes that stay the same. Example social security tax, sales…
China, Cuba, North Korea, Vietnam
insourcing
The use of resources within the firm to provide products or s…
outsourcing
Contracting with another company, usually abroad, to have it…
Government/Economics
Autocratic
Domestic Products
Quota
Unitary
One person runs the government, no citizen participation
Trade Barriers Promote
Limit on Imports
Central/national authority has the power
Autocratic
One person runs the government, no citizen participation
Domestic Products
Trade Barriers Promote
Economic/Government Terms
Specialization
Entrepreneurship
Literacy Rate
Human Capital
Concept that a nation should produce and export a limited ass…
Accepting the risk of starting and running a business.
The percentage of a country's people who can read and write.
Knowledge and skills people acquire to increase their product…
Specialization
Concept that a nation should produce and export a limited ass…
Entrepreneurship
Accepting the risk of starting and running a business.
42 terms
Government and Economics
market
profit
revenue
specialization
an organized way for producers and consumers to trade goods a…
the money a company has left after subtracting the cost of do…
the money earned by selling goods and services
the act of concentrating on a limited numbers of goods or ser…
market
an organized way for producers and consumers to trade goods a…
profit
the money a company has left after subtracting the cost of do…
10 terms
government/economics
government
government services
federal government
local government
a group of people that work together to make laws and provide…
help that is provided for all citizens
the system of government for the whole United States as defin…
the system of government for our towns, cities and counties
government
a group of people that work together to make laws and provide…
government services
help that is provided for all citizens
46 terms
Government & Economics
Capitalism
Communism
Democracy
Economy
Economic system in which property is owned by individual peop…
Political and economic system in which government owns all pr…
A political system in which the people hold political power d…
System by which goods and services are bought, sold and produ…
Capitalism
Economic system in which property is owned by individual peop…
Communism
Political and economic system in which government owns all pr…
Government & Economics
Natural Rights
John Locke
"Popular" Sovereignty
Montesquieu
right that you are born with that no one can take away
he was very passionate about the government protecting the pe…
gov. recieves its power from the people
french writer who proposed Separation of Powers (3 branches)
Natural Rights
right that you are born with that no one can take away
John Locke
he was very passionate about the government protecting the pe…
Government: Economics
interest groups
market economy
zoning
outsourcing
Groups of people who work together for similar interests or g…
An economic system based on free enterprise, in which busines…
Dividing an area into zones or sections reserved for differen…
Contracting with an outside company to provide a service or p…
interest groups
Groups of people who work together for similar interests or g…
market economy
An economic system based on free enterprise, in which busines…
202 terms
Government / Economics
Who is in charge of the federal govern…
The Federal Reserve System
The United States Mint
Bureau of Engraving Printing
Department of Treasury: ... 1. The Treasury prints and mints al…
The Federal Reserve System or "The Fed" is the central bank o…
primarily produces circulating coinage for the United States…
( BEP U.S. ) government agency responsible for printing the p…
Who is in charge of the federal govern…
Department of Treasury: ... 1. The Treasury prints and mints al…
The Federal Reserve System
The Federal Reserve System or "The Fed" is the central bank o…
Government & Economics
North Atlantic Treaty Organization
United Nations
International Monetary Fund
Commonwealth of Nations
protects countries from military attacks
brings all nations together for peace and development
establishes a more stable global economy
makes sure countries, especially those once occupied by Brita…
North Atlantic Treaty Organization
protects countries from military attacks
United Nations
brings all nations together for peace and development
19 terms
Government: Economics
interest groups
market economy
zoning
outsourcing
Groups of people who work together for similar interests or g…
An economic system based on free enterprise, in which busines…
Dividing an area into zones or sections reserved for differen…
Contracting with an outside company to provide a service or p…
interest groups
Groups of people who work together for similar interests or g…
market economy
An economic system based on free enterprise, in which busines…
12 terms
Economic Government
United kingdom
Germany
Russia
Russia's natural resources
Mixed Economy
Mixed Economy
Mixed Economy
coal, petroleum, Natural gas, Salt and Nickel
United kingdom
Mixed Economy
Germany
Mixed Economy
Government & Economics
Capitalism/market economy
Competition...why the "lifeblood" of c…
Laissez-faire economics
Law of supply and demand
free market economy
competition
economic affairs
states that the quantity of a good supplied (i.e., the amount…
Capitalism/market economy
free market economy
Competition...why the "lifeblood" of c…
competition
Government: Economics
insourcing
outsourcing
flat tax
China, Cuba, North Korea, Vietnam
The use of resources within the firm to provide products or s…
Contracting with another company, usually abroad, to have it…
taxes that stay the same. Example social security tax, sales…
Communist countries today are?
insourcing
The use of resources within the firm to provide products or s…
outsourcing
Contracting with another company, usually abroad, to have it…
157 terms
Government and Economic
definition of economics
scarcity
what changes 1525 and 1776 that made A…
The Enlightenment
Economics is the allocation of scarce resources for which the…
the fundamental economic problem of having seemingly unlimite…
-the Enlightenment... -the rise of nationalism... -transformation o…
people start to value human ideas and don't say that the idea…
definition of economics
Economics is the allocation of scarce resources for which the…
scarcity
the fundamental economic problem of having seemingly unlimite…
29 terms
Government and economics
The articles of confederation
The Constitution
preamble
grievances
explain how 13 states would be governed as one nation
Book of laws for US
introduction to why they wrote the declaration of independence
complaints by the colonists
The articles of confederation
explain how 13 states would be governed as one nation
The Constitution
Book of laws for US
12 terms
Economics and Government
Natural Resources
abundance
scarcity
wants
Anything we use that comes from nature
when have more than enough of a product or natural resource
the shortage of products or national resources
things that we would like to have but can live without
Natural Resources
Anything we use that comes from nature
abundance
when have more than enough of a product or natural resource
23 terms
Government and Economics
Autocracy
Monarchy
Oligarchy
Theocracy
a system of government by one person with absolute power
a state or nation in which the supreme power is actually or n…
a small group of people having control of a country, organiza…
a system of government in which religious leaders rule in the…
Autocracy
a system of government by one person with absolute power
Monarchy
a state or nation in which the supreme power is actually or n…
Government and Economics
Executive Branch
Legislative Branch
Judicial Branch
Bill of rights
Who:President and Vice President ... How: elected for 4 year ter…
Who: Congress (house of representative and Sentate... How: house…
Who: Supreme Court ... How: appointed by the president and appro…
First 10 amendments
Executive Branch
Who:President and Vice President ... How: elected for 4 year ter…
Legislative Branch
Who: Congress (house of representative and Sentate... How: house…
Economics and government
Anarchy
Communist
Capitalist
Dictatorship
No government exist can happen at a Civil War in a country
Government owns property such as businesses and provide servi…
People can own their own businesses and provide private servi…
Ruled by a single leader who has not been elected May use for…
Anarchy
No government exist can happen at a Civil War in a country
Communist
Government owns property such as businesses and provide servi…
Government & Economics
Capitalism/market economy
Competition...why the "lifeblood" of c…
Laissez-faire economics
Law of supply and demand
An economic and political system in which a country's trade a…
Capitalism is highly competitive because investors want to in…
abstention by governments from interfering in the workings of…
High supply = High demand
Capitalism/market economy
An economic and political system in which a country's trade a…
Competition...why the "lifeblood" of c…
Capitalism is highly competitive because investors want to in…
47 terms
government economics
fiscal policy
why do we tax
limitations to taxes include
direct tax
consists of the various means it uses to raise and spend mone…
to raise money needed to operate the federal government... regul…
tax on church services, violates first amendment... in order to…
directly is payed by person
fiscal policy
consists of the various means it uses to raise and spend mone…
why do we tax
to raise money needed to operate the federal government... regul…
12 terms
Government and Economic Systems
Representative Democracy
Direct Democracy
Republic
Monarchy
A type of government where citizens elect people to represent…
A type of government where all citizens participate in the de…
A system of government in which the written law (constitution…
A type of government where a King & Queen hand power down thr…
Representative Democracy
A type of government where citizens elect people to represent…
Direct Democracy
A type of government where all citizens participate in the de…
Government and Economics
Capitalism
Command economy
Direct democracy
Representative democracy
An economic and political system in which a country's trade a…
An economic system in which the government makes all economic…
A form of government in which citizens rule directly and not…
A system of government in which citizens elect representative…
Capitalism
An economic and political system in which a country's trade a…
Command economy
An economic system in which the government makes all economic…
Government And Economics
Democracy
Oligarchy
Monarchy
Tyranny
A form of government in which citizens govern themselves.
Government in which only a few people have power.
A form of government in which power is vested in hereditary k…
A form of government in which the ruler is an absolute dictat…
Democracy
A form of government in which citizens govern themselves.
Oligarchy
Government in which only a few people have power.
Government and Economics
Unitary System
Federal System
Autocracy
Monarchy
is a sovereign state governed as a single entity. The central…
A system of government in which power is divided between a ce…
a system of government by one person with absolute power.
a form of government with a monarch at the head.
Unitary System
is a sovereign state governed as a single entity. The central…
Federal System
A system of government in which power is divided between a ce…
9 terms
Economics and Government
The United Nations
Commonwealth of Nations
The International Monetary Fund
North Atlantic Treaty Organization
bring nations together for peace and development
to make sure countries have freedom and equality, specificall…
helps countries work together to keep a stable economy
protect countries from military attacks
The United Nations
bring nations together for peace and development
Commonwealth of Nations
to make sure countries have freedom and equality, specificall…
Economics and Government
Theocracy
Representative Democracy
Absolute Monarchy
Constitutional Monarchy
government
people elect representatives to serve in government (Parlimen…
one king or queen rules
King or queen has limited power-- is restricted to what the c…
Theocracy
government
Representative Democracy
people elect representatives to serve in government (Parlimen…
35 terms
Economics and Government
Natural resource
Human(labor)
Capital (man-made) resource
Economy
things that occur naturally
people who make things
these are things that are man made
the way goods and services are produced, consumed, and distri…
Natural resource
things that occur naturally
Human(labor)
people who make things
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