Final Exam Flashcards
(64 cards)
Recession
period of economic decline
Recession of 2008- What happened?
- increasing levels of unemployment
- people stop spending $
- stock market crashed
How has the recession on 2008 changed our study of global events?
- changed understanding of modern society
- altered the way of thinking
Percentage of population living in Asia, Latin America and Africa
- ⅔ of the world’s population
- 80%
globalization
the integration of markets, politics, values and environmental concerns across borders
What factors have contributed to globalization
internet use
need for other countries resources
emerging markets
multinational corporations
Who benefits from globalization? Who suffers?
the upper class benefits and the lower class suffers
What are emerging markets?
countries that have fast growing economies
BRIC
Government
institutions that are created to organize and run day to day affairs in a society
What are the various forms of government discussed in class?
- Absolute Monarchy, Constitutional Monarchy, Limited Monarchy
- Dictatorship
- Totalitarian
- oligarchy
- Theocracy
- Pure Democracy
- Representative Democracy/ Republic
oligarchy
rule by a small group of elite (wealthy) citizens
Theocracy
rule by a religious group or individual
Pure Democracy
the people have complete control
How do governments distribute power?
- Unitary
- confederation
- federalism
unitary
1 national government and that’s it
confederation
a union of independent sovereign states
federalism
shared power
What are the various economic systems discussed in class?
- capitalism
- socialism
- mixed economy
- communist
capitalism
-everything is private owned
-no minimum wage
-very little to
no government involvement
socailsim
- redistributes wealth- government provides more
- more government control
- road towards communism
mixed economy
- some government involvement
- between socialism and communism
- U.S.
communism
-classless society
complete government control (command economy)
-equally distributed wealth
-everyone works for government
economy
the means by which a society produces, distributes, and consumes limited resources, money and wealth
Culture
set of beliefs, traditions, and behaviors that a group of people express and hold