History Exam Part 4

Measuring line that tells you distance

Shrinkage in the overall health of the country

Lacking resources

Economic system based on custom

To trade is: market

Map with land and water features displayed

Imaginary line creating east and west hemispheres

Complete restriction of trade

Individuals run this economic system through supply/demand

General rise in the level of prices in the US

The government runs this system

Branch that makes laws

What customers desire or want

System with national, state, and local levels

Branch that interprets laws

Interdependence is

Map with the names and borders of countries

Goods the leave a country to other countries

The four major categories of resources are Land, Labor, Capital, and Entrepreneurship

Shows the steps in a process

Use color to show population density

Branch that enforced laws

Imaginary line separating north and south hemispheres

To limit trade goods

Having 3 branches of government with different responsibilities

Specialization is

The value of the next best alternate is: Opportunity Cost

Country with the world’s largest economy (2009)

Tax on imports

The government and individuals run this economic system