topic 1, lessons 6-10 study guide Flashcards
(39 cards)
list of events in the order of which they occurred
Chronology
the scientific study of ancient cultures through the examination of artifacts and other evidence
Archaeology
the study of humankind in all aspects, especially development and culture
Anthropology
a legal member of a country
Citizen
activities having to do with one’s society and community
Civic life
a group of people who have the power to make and enforce laws for a country or area
Government
a system of basic rules and principles by which a government is organized
Constitution
a form of government in which citizens hold political power
Democracy:
What are the three basic economic questions?
What goods and services should be produced?
How should goods and services be produced?
Who uses or consumes these goods and services?
What are the three factors of production?
Land
Labor
Capital
If the demand for a product increases, the price will tend to _________.
increase
How do companies/businesses make a profit?
Companies try to reduce expenses and increase revenue.
What are the four types of economic systems?
Traditional
Market
Command
Mixed
Describe features of a command economy
The central government makes all the economic decisions. Individual producers and consumers do not make basic decisions.
Describe features of a market economy
Individual consumers and producers make economic decisions. Also called capitalism. People are free to do what they want and earn as much profit as they can.
What type of economy do most societies in the world have today?
Mixed economies
What are some features of good budgeting?
In a good budget, income is equal to or no greater than expenses. It includes money reserved for saving.
Why do countries trade goods and services?
They can’t make everything so in order to obtain the goods it can’t produce, you have to trade.
What is domestic trade?
All of the buying and selling that takes place within a country.
What are some features of developed countries?
They have a strong economy and a high standard of living, high literacy rate and life expectancy.
What are some features of a developing country?
They have less productive economies and lower standards of living, lower literacy rate and life expectancy.
How can a country increase economic development?
It can find more resources, invest in capital goods and they can invest in human capital.
Where and when did complex governments first appear?
In Southwest Asia more than 5,000 years ago.
What type of government does the U.S. have?
representative democracy
