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11 Cards in this Set
- Front
- Back
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Totalitarian Government |
highly centralized government in which citizens have no influence on laws of the government and freedoms are highly restricted; includes communism and fascism.
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Democratic Government
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government in which citizens can influence laws of the government and are allowed certain rights and freedoms; includes presidential and parliamentary democracies
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Gross Domestic Product (GDP)
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total market value for all goods and services produced within a country duringa specific time period
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Purchasing Power Parity (GDP) |
Estimated of the adjustment necessary on the exchange rate so an exchange will be equivalent to each currency's buying power. |
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Market Economy |
Economy based on competition,Supply and demand,Individual rights ,and economic profit. |
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Laisser-Faire |
Non-intervention by the government |
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Command economy |
Economy in which the government owns of production and makes all economic decisions. |
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Mixed economy |
Economy incorporation elements of market and command economies |
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Infrastructure |
Foundation of basic system and facilities serving a nation,includes sewage ,water ,electric,transportation ,and communication system |
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Glovalization |
Integration of the world's economy through increased international business |
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Diplomacy |
Practice by which nation's conduct relationships with one another |
