Chapter 7 Flashcards
(9 cards)
Veto
The constitutional right of a ruler of executive to block legislation passed by another unit of government.
Monopoly
The complete control of a product or sphere of economic activity by a single producer or business.
Duty
A custom tax on the export or import of goods.
Boycott
An organized refusal to deal with some person or organization or to buy a certain product or service.
Mulatto
A person mixed African and European ancestry.
Propaganda
A systematic program or particular materials designed to promote certain ideas; sometimes, but not always, the term is used negatively; implying the use of manipulative or deceptive means.
Inflation
An increase in the supply of currency relative to the goods available.
Patronage
System in which benefited, including jobs, money or protection are granted in favor of political support.
Mercantilism
Economic theory that closely linked a nations political and military power to its bullion reserves.
