Social Flash Cards Part 2

Front 1

Define a Market Economy

Back 1

An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses and there is little government intervention or central planning. This is the opposite of a centrally planned economy, in which government decisions drive most aspects of a country's economic activity.

Front 2

Define a Mixed Economy

Back 2

An economy in which there are elements of both public and private enterprise.

Front 3

Define a Command Economy

Back 3

An economy that is planned and controlled by a governing body (Ex: Soviet Union)

Front 4

Define Scarcity

Back 4

The basic economic problem which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently.

Front 5

Define Monopoly

Back 5

When a corporation monopolizes a certain aspect of an economy. Ex: A company called Steam is monopolizing buying games online because they are the sole provider for online game purchase services

Front 6

Define Competition

Back 6

When two companies fight for your buisness. Ex: "We at Company 1 will undercut Company 2 by 25%!"

Front 7

Define Publically Owned

Back 7

A company or service which is publically owned, in which everyone has a say

Front 8

Define Privately Owned

Back 8

A company or service that is privately owned, where only a sole person or C.E.O has a say

Front 9

Define Supply, Demand, Prices

Back 9

Supply and demand changes as prices change. If there is an item that is small in supply but the demand is very high, the price of the item is going to go up

Front 10

Define Enterprenure

Back 10

A person who owns, operates, and creates a buisness in a risky endeveour

Front 11

Define Enterprise

Back 11

A large company, or group of companies. Ex: Donald trump owns an enterprise, Trump Corporation

Front 12

Define Crown Corporation

Back 12

A corporation owned by Canada. Ex: Air Canada is a Crown Corporation

Front 13

Define Quality of Life

Back 13

How well a person lives, or wants to live. Ex: My quality of life is quite well, because I live in a good home and have everything I need

Front 14

Define Public Good

Back 14

Anything that is for the Public Good

Front 15

Define Equalibrium

Back 15

A state of rest or balance due to the equal action of opposing forces

Front 16

Producers

Back 16

People who produce a product

Front 17

Consumers

Back 17

People who buy products from stores

Front 18

Grants

Back 18

Ammounts of money that the government gives, these are like loans

Front 19

Unenployment rate

Back 19

The rate of unenployment in a City, Province, or Country

Front 20

Propeganda

Back 20

Announcements, posters, spray paint, etc.. that makes you beleive a certain thing

Front 21

Reintigrate

Back 21

Reintegrating into Society. This means that you are put back into society to coexist with other people

Front 22

Identity

Back 22

Who you are

Front 23

Accountable

Back 23

What you are accountable for. Ex: If I break a Lamp, I am accountable for my actions of breaking that lamp

Front 24

Collective Identity

Back 24

The identity of a collective group of people; who a collective group of people are

Front 25

Ethnocentrism

Back 25

The beleif of superiority in ones own ethnic group

Front 26

Rehabilitate

Back 26

To try to get you to do something else (Ex: You can be rehabilitated to stop taking drugs)

Front 27

Citizenship

Back 27

Your country of origin, and your rights in that country

Front 28

Civil Service

Back 28

A service that is supplied by someone who works for the Government (Ex: Fire Department)

Front 29

Constitution

Back 29

What made our country what it is // The first set of Laws ever established

Front 30

Collective Rights

Back 30

The rights established of the Collective

Front 31

Lobbyists

Back 31

People who lobby for a certain thing to happen. Ex: Environmentalists can be said to be lobbyists

Front 32

Values

Back 32

Peoples values, or what they beleive in

Front 33

Quality of Life

Back 33

Peoples Quality of Life, so how good they live

Front 34

Assimilation

Back 34

To try and turn people over to a new religion

Front 35

Affirm

Back 35

To affirm collective identity

Front 36

Inherient Rights

Back 36

Rights you inheret from your ancistors

Front 37

Black Market

Back 37

A market that sells illegal goods

Front 38

Sales Tax

Back 38

A tax put onto the sales of all items that is sent to the government

Front 39

Kyoto Protocol

Back 39

A protocol to try to battle Global Warming

Front 40

Climate Change

Back 40

Temperature rising in the climate, or our environment changing for better or worse

Front 41

Carbon Tax

Back 41

A tax that is used to tax refineries based on how much CO2 they put into the environment

Front 42

Biodiversity

Back 42

How people are diverse

Front 43

Boycotts

Back 43

When people refuse to buy a product, or use a service

Front 44

Corporate Tax

Back 44

A tax that a corporation uses to place on their items, that gives money back into the corporation

Front 45

Tax Base

Back 45

The base taxes in an economy

Front 46

Public Healthcare

Back 46

Health Care that is paid for by taxpayers, and everyone has access to it

Front 47

Private Healthcare

Back 47

Health Care that is paid for solely by people who use it, and only people who can pay have access to it

Front 48

Immigration

Back 48

When people immigrate into another country to live there, normally to better their quality of life

Front 49

Health

Back 49

How healthy you are

Front 50

GDP

Back 50

The total ammount of Emissions being pumped into our atmosphere by a factory