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social studies test
N/A
14
Social Studies
8th Grade
01/15/2014

Additional Social Studies Flashcards

 


 

Cards

Term

capitalism

Definition
An economic political system in which a county’s trade and industry are controlled by private owners for profit.
Term

Socialism

Definition
Any system owned by a community.
Term

Profit

 

Definition
The positive gain from an investment or a business operation after subtracting form all expenses.
Term

Capital

Definition
Cash, goods, and natural resources.
Term

Poverty

Definition
The state of having no money, food, and/or a job.
Term

Mortgage

Definition
 A repayment of debt.
Term

Standard of living

Definition
The measure of how much power a family has.
Term

Economic security

Definition
As soon as your income is more than the cost of your basic needs.
Term

Primary sector

Definition
involves farming, fishing, forestry, and mining. The work is based on the basics of economics.
Term

Tertiary sector

Definition
This sector provides services for other sales people, bus drivers, doctors, teachers, and also government workers.
Term

Quaternary sector

Definition
This sector works with ideas. Such as, working in labs for cosmetic companies, also computer companies.
Term
Diversified economy
Definition
An economic system that has had a good balance of jobs in all sectors.
Term

Down payment

Definition
paying a portion of what your house costs.
Term

Demographics

Definition
are statistics to make up a population, the number of people their age, and whether, people are married or single.
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