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NC Social Studies - Economics
NC Social Studies - Economics
37
Economics
7th Grade
02/27/2014

Additional Economics Flashcards

 


 

Cards

Term
lots of gov't
Definition
command/communism
Term
gov't makes all decisions
Definition
command/communism
Term
gov't owns property
Definition
command/communism
Term
No Profits
Definition
command/communism
Term
No Competition
Definition
command/communism
Term
North Korea, Cuba
Definition
command/communism
Term
Little Gov't Involvement
Definition
Free Market/Capitalism
Term
Individuals have choice
Definition
Free Market/Capitalism
Term
Private Property
Definition
Free Market/Capitalism
Term
Profit Driven (make $$$)
Definition
Free Market/Capitalism
Term
Competition
Definition
Free Market/Capitalism
Term
Australia
Definition
Free Market/Capitalism
Term
Less govt than Command, but more than free
Definition
Mixed
Term
Private Sector
Definition
Mixed
Term
Public Sector
Definition
Mixed
Term
USA
Definition
Mixed
Term
Based on Survival, not making money
Definition
Traditonal
Term
Zombie Apocalypse
Definition
Traditonal
Term
The IDEA…of a strong nation taking over a weaker nation
Definition
Imperialism
Term
Actually doing imperialism
Definition
Colonialism
Term
We are all connected, no nation lives in isolation
Definition
globalization
Term
Every nation depends on each other for something (resources)
Definition
interdependent
Term
Agreement between competing companies to control prices
Definition
cartel
Term
OPEC
Definition
Organization of the Petroleum Exporting Countries
Term
Oil used to make gasoline
Definition
Petroleum
Term
They control the supply of oil and thus the PRICE
Definition
OPEC
Term
NAFTA
Definition
North America Free Trade Agreement
Term
No Tarrifs on trade between the US, Canada, and Mexico
Definition
NAFTA
Term
Goods are cheap, We lose jobs in the US
Definition
NAFTA - Pros and Cons
Term
Meeting of the leaders of the 20 major economies
Definition
G20
Term
G20 criticism
Definition
Only help wealthy nations
Term
WTO
Definition
World Trade Organization
Term
Job = Make the world's economy better
Definition
WTO
Term
EU
Definition
European Union
Term
Created Post World War II
Definition
EU
Term
Countries who trade with another become ______________ and are more likely to ________________.
Definition
economically interdependent, avoid conflict
Term
OAS
Definition
Organization of American States
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