3rd 9 weeks final review

economic system-means of production publicly owned,economic activity controlled by government

a tax on imported goods; usually designed to protect domestic production of similar goods

the education and skills that allow workers to produce goods and services and earn a salary

Which Asian country could be an autocracy, power held by single party and a single dictator?

the voluntary exchange of goods and or services

goods brought into one country from another through trade or sale

Gov't system where power is divided between one central and several regional authorities is

rule by the people with elected representatives

physical structures&facilities (buildings,roads, power supplies)needed for operation of society

rule by god or higher power

a limit on the quantity of a good that can be imported into a country in a given period of time

emperor is Chief of State, Prime Minister is Head of Gov't, constitutional monarchy

resources found on or in the earth and are used in the production of goods and services

goods such as factories, machines, and tools that workers use to make other goods

rule by the citizens or public without representation

Which country is parliament democracy, emperor is figurehead, power is in the prime minister?

goods and services traded with or sold to other countries

rule by a single person who gained power through force

when people, businesses, countries produce specific goods or services in order to produce more

rule by the few

What problem faces Japan that could affect its economic growth?

the mix of qualities needed to create and run businesses

total value of all the goods and services produced within a country in a given year

National People's Congress is legislative body *communist state *Premier is Head of Gov't

to buy more of something in order to benefit from it in the future

economic system consisting of public ownership and private ownership

rule by one

In which form of gov't is citizen involvement the HIGHEST?

rule by none

economic system where traditions, customs, & beliefs shape goods and services produced

Which nation can be associated with restrictions on freedom of speech, religion, and press?

The laws of supply and demand control the production of goods and services.

rule by a king or queen

In __, citizens are allowed to vote for leaders but ruling party has not allowed people to vote

rule by the people

Which S. Asian country is BEST example of mixed economy, with elements of market and command?

One of most successful economies in the world, little land for farming,highly industrialized

N.Korea gov't controls economy. Decisions are made by gov't-what, for whom, how to produce.

restriction to regulate international commerce and business

A gov't system where gov't is controlled by one central authority is

when a country refuses to import or export certain goods; often backed by military force

The cost of a missed opportunity. It is the opposite of the benefit that would have been gained