Social Studies Midterm Flashcards
(57 cards)
OPEC - How do they affect the cost of oil?
Organization of Petroleum Exporting Countries; regulates the supply of oil to influence the price of the commodity on the world market
quota
the limited number or quantity of something which is officially allowed
tarriff
a tax on the import or export for goods between countries
embargo
an order stopping the movement of trade shipped into or out of countries
Economic Specialization
narrowing the production of goods to only a few different items. No country can have everything they need
Why are most economies not strictly command or strictly market?
It is difficult for a country to maintain an economy without some government influence or free market activity.
Entreprenuer
Someone who makes their own organization/company
Trade Barrier
Restriction or limitations on trade because they want sell and produce their own goods
nationalism
the idea that your own country is better than all other countries
Theocracy
A state where the government is led or a religion or deity and the legal system is based on religious law.
Dictatorship
A government or a situation where one person makes all rules and decisions without input from anyone else.
Oligarchy
A government by the few
Communism
Political and economic system where major resources are owned by the public or state and wealth is divided between citizens equally or according to need
Democracy
A system of government where the people hold the power to choose their leaders and make decisions about their country
Monarchy
A ruler (monarch) gets their power through heredity, the ruler has all the power
Unitary
A centralized government structure where all the power is held by a single central authority
Federation
A system of government in which the same territory is controlled by two or more levels of government
Confederation
A political union sovereign states united for purposes of common action.
SW Asian Country that has a monarchy
Saudi Arabia
ethnic group
a community or population made up of people who share a common cultural background or descent
religious group
A coalition of people who practice a particular religion
Five Pillars of Faith
- Daily Prayer
- Giving to charity
- Belief in and submission to one God
- Fasting during the month of Ramadan
- A pilgrimage to Mecca once in a lifetime
common figure in Judaism, Christianity, and Islam
Abraham
Anti-Semitism
Hostility to or prejudice against Jewish people
