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10 Cards in this Set

  • Front
  • Back
economy?
social institution that organizes a societyies production,distribution,& consumption of goods and services
postindustrial revolution
productive system based on service work and high technology
primary sector?
part of the economy thatdraws raw materials from the natural environment
secondary sector?
part of the economy that transforms raw materials into manufactured goods
tertiary sector?
part of the economy that involves services rather than goods
global economy?
expanding economic activity that crosses national borders
capitalism?
economic system in which natural resources and the means of producing goods and services are privately owned
socialism?
economic system in which natural resources and the means of producing goods and services are collectivly owned
communism?
hypothetical economic and political system in which all memebers of a society are socially equal
welfare capitalism
economic and political system that combines a mostly market based economy w/ extensive social welfare programs