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