1st Semester
Terms : Hide Images
| 264148450 | Free Market Economy | An economic system in which the means f the production is largely privately owned and there is little or no control over markets Ex. In a completely free market economy, conditions of trade would not be regulated at all. | 0 | |
| 264148451 | Supply and Demand | In economics, the relationship betweet the amount of a commodity that producers are able and willing to sell (supply), and the quantity that consumers can afford and wish to buy (demand) Ex. Supply an demand concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by the consumers (at current price) will equal the quantity supplied by the producers (at current price) resulting in economic equilibrium of price and quantity. | 1 | |
| 264148452 | Sahel | The northern and southern edges of the Sahara Desert. A semi-arid region of Africa extending from Senegal easterward to Sudan. Ex. The Sahel is mostly covered in grassland and savana, with areas of woodland and shrubland near the Sahara Desert. | 2 | |
| 264148453 | Lateen | A triangular sail affixed to a long yard or crossbar at an angle of about 45 degrees to the mast, with the other free corner secured near the stern. The sail was capable of taking the wind on either side. Ex. The lateen allowed the Islamic traders to catch the proper seasonal winds in each dorection so they could complete a round trip from Mesopotamia to China in less than two years. | 3 | |
| 264148454 | Yurts | A portable dwelling used by the nomadic people of central Asia, consisting of a tent-like structure of skin, felt, or hard-woven textiles arranged over wooden poles, simply furnished with brightly colored rugs. Ex. The desert is dotted with mirage-like "yer" camps, where tourists stay in Mongolian yurts- spacious tents made of felt, stretched along wooden latticework. | 4 |
