exam Flashcards
economics
the study of the geography of economic activities, developed from a focus on commercial activities and the exploitation of resources for economic gain
command economy
, requires that a nation’s central government own and control the means of production
market economy
an economic system where two forces, known as supply and demand, direct the production of goods and services
traditional economy
a system that relies on customs, history, and time-honored believes
mixed economy
a system that combines elements of both a market economy and a command economy
socialism
system of organization or government where all property, industry, and capital is owned by the community, not individuals
communism
type of economy where all property, including land, factories and companies, is held by the government
microloans
the method of issuing small loans
GPD per capita
the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population.
Globalization
the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world
Exclusive Economic Zone
the zone where the us and other costal nations have jurisdiction over natural resources
politics
study of how humans have divided up the earths surface for management
Geopolitics
the study of the effect of the earths geography on politics and international relations
Sovereignty
government possesses full control over affairs within a territorial or geographical area or limit
Nation state
sovereign territory with one group of individuals who share a comman history
stateless nation
ethic group or nation that does not posses its own sovereign state
nationalism
ideology emphasizes loyalty devotion or allegiance to a nation or nation state and holds obligations
Autonomy
an area that has a degree of autonomy or has freedom from an external authority