Economics And Human Rights

Front 1

Totalitarism

Form of government that doesn't permit individual freedom and the government has authority in every single aspect of the individual's life.

Back 1

Mussolini and Hitler in the World War ll.

Front 2

WAR

Armed fighting between two or more countries or groups.

Back 2

North Korea and South Korea War.

Front 3

Holocaust

A very large amount of destruction, especially by fire, or the killing of a large amount of people.

Back 3

Nazi Party with Adolf Hitler as the leader of the group.

Front 4

Genocide

Term referring to violent crimes committed against a group with the intention of destroy their existence.

Back 4

Jewish Genocide in the dictatorship of Hitler.

Front 5

Revolution

Is a change in the way a country is governed, usually to a different political system and using violence.

Back 5

Mexican

Revolution

Front 6

Dictatorship

A form of government characterized by the absolute rule of one person or a very small group of people who hold all political power.

Back 6

Porfirio

Diaz

Front 7

Communism

A system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs.

Back 7

Communist

Manifesto

Front 8

Cold War

A state of extreme unfriendliness existing between countries, especially with opposing political systems, that expresses itself by political pressure and threats.

Back 8

USA vs Soviet Union

Front 9

Society and Civil Society

Is comprised of groups or organizations working in the interest of citizens but operating outside if the governmental and for-profit sectors.

Back 9

Red Cross

Habitat for Humanity

Front 10

Supply

Schedule of quantities offered for sale at all possible prices in a market.

Back 10

A new style of jeans was introduced, they were very popular. Everyone wanted to own a pair. The designer of the jeans ordered more, but still had a limited amount to sell.

Front 11

Demand

Combination of desire, ability, and

willingness to buy a product.

Back 11

If there was only one pizza restaurant in a town and then a new pizza place opened, the demand for pizza from the first restaurant would drop.

Front 12

Break even point

Production needed if the firm is to recover its costs; production level where total cost equals total revenue.

Back 12

The basic idea behind break-even point is to calculate the point at which revenues begin to exceed costs.

Front 13

Factors of production

Productive resources that make up the four categories of land, capital, labor, and entrepreneurship.

Back 13

-Land

-Labour

-Capital

-Enterpreneur

Front 14

Economic cycle

The natural fluctuation of the economy between periods of growth and recession.

Back 14

Low unemployment, high productivity, and high consumer spending.

Front 15

Welfare State

Program whereby a government or private agency programs that provide general economic and social assistance to needy individuals.

Back 15

After WW2, the collective sphere expanded significantly, and high taxes in return for the state taking care of its citizens from cradle to grave became a model for the welfare state.

Front 16

Neoliberalism

Approach to economics and social studies in which control of economic factors is shifted from the public sector to the private sector.

Back 16

Adam Smith

Front 17

Globalization

The tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, increasing the interconnectedness of both.

Back 17

The Internet is a major contributor to globalization, not only technologically but in other areas as well, like in cultural exchanges of the arts.

Front 18

Regionalism

Institutional arrangements designed to facilitate the free flow of goods and services and to coordinate foreign economic policies between countries in the same region.

Back 18

Regionalism include freetrade areas, customs unions, common markets, and economic unions.

Front 19

Trade Embargo

Prohibition on the export or import

of a product.

Back 19

US embargo on Cuba

Front 20

Economic Integration

Economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies.

Back 20

Political Union

Fiscal Union

Monetary Union

Common Market

Custom Union

Free Trade Area

Preferential Trade Area

Independent Economy

Front 21

Free Trade Agreement

Treaty between 2 or more countries to establish a free trade area where commerce in goods and services can be conducted across their common borders, without tariffs or hindrances but capital or labor may not move freely.

Back 21

Agreement on Agriculture.

European Trade.

Agreement on Rules of Origin.

Front 22

Quota

Limit on the amount of a good that can be allowed into a country.

Back 22

For trade quotas, governments set the quota limiting the import of a particular product, restricting the access to the domestic market by an offshore producer.

Front 23

Tariff

Tax placed on the amount of a good that can be allowed into a country.

Back 23

Tariffs are used by governments to generate revenue

or to protect domestic industries from competition.

Front 24

Inflation rate

Is the rate at which the general level of prices for goods and services is rising and the purchasing power of currency is falling.

Back 24

US inflation rate from 1910 to 2010.

Front 25

GDP

It is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

Back 25

Mexico

GDP: $1.295 trillion

GDP growth: 2.2%

Front 26

Overproduction

Excess of supply over demand of products being offered to the market.

Back 26

Natural Overproduction

Human Overproduction

Manmade Overproduction