• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/17

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

17 Cards in this Set

  • Front
  • Back

Command economy

An economy in which most economic issues of production and distribution are resolved the central planning and control

Consumption

Spending by households on goods and services the process of buying and using goods and services

Interdependance

A situation in which events in one part of the world affects the other parts of the world

Market economy

An economic system in which individuals not the government control the production and distribution of goods and services

Mixed economy

An economic system that includes both private ownership of property and government control of some services and industries

Opportunity cost

The second best alternative for the value of that alternative that must be given up when scarce resources are used for one purpose instead of another

Scarcity

The condition that exist because humans want one or more than the capacity the available resources to satisfy those wants

Specialization

A situation in which people produce a narrower range of goods and services then they consume specialization increases productivity and also requires trade and increases interdependance

Surplus

The switch situation that results when the availability of a product is more than the quantity demand

Trade

Voluntary exchange of goods and services for money or other goods and services

Regardless of the economic type what is the goal of any economic system?

For everybody to have food shelter and clothes

Early humans

Early humans were nomads who moved around to hunt animals and gather food they build shelter shelters in the use fire to survive in time they develop language start during the farming revolution people began to grow crops and domestic animals which allowed them to settle and villages the most important factor in some languages availability of fresh water

Mesopotamian civilization

In early muscle Batavian civilization religion and government were closely linked Kings created strict laws to govern the people

Farming villages

Develop into civilizations with governments are religion writing and social class divisions the first city states develop in Mesopotamia

The first empires

The Syrians Empire included all muscles all of Mesopotamian and extended into Egypt, the Chaldeans build a large empire that included Babylon the largest and richest city in the world at the time

Summarize how the farming revolution led to specialization of jobs

People had to do one certain job it would lead to permanent homes in villages

Compare the Paleolithic and Neolithic Age

Paleolithic Stone hunting always moving


Neolithic use of iron farming villages