Terms : Hide Images
| 55677820 | Culture (groups) | way of life and the group(s) that live and represent that way of life | 0 | |
| 55677821 | Demographic Data | statistics about the numbers and characteristics of people living in an area | 1 | |
| 55677822 | Level(s) of development | refers to the amount and quality of economic and industrial resources, often related to national income | 2 | |
| 55677823 | Standard of living | use indicators such as income, education, birth rate/death rate, $ spents on food, population density, and so on to determine quality of life | 3 | |
| 55677824 | Nation | country with borders and an organized gov't which freely exercises authority within its borders | 4 | |
| 55677825 | Distribution | relates to trade and how resources and products are divided and allocated | 5 | |
| 55677826 | Free-enterprise economic system | the system in the U.S. and other free market economies. It includes economic choice, competition, profit motive, and limited government regulation of the economy. | 6 | |
| 55677827 | Command economic system | central gov't owns most of the means of production in a country and controls most economic decisions | 7 | |
| 55677828 | Basic Needs | food, clothing, shelter (water is food) | 8 | |
| 55677829 | Goods and Services | goods (things) are products made for sale/barter and services (actions) are products people provide | 9 | |
| 55677830 | Subsistence Farming | growing crops just to support a family and not have any extra (surplus) for sale | 10 | |
| 55677831 | Market-oriented agriculture | growing crops for commercial sale and distribution to domestic and international buyers | 11 | |
| 55677832 | Capital | goods used to produce other goods | 12 | |
| 55677833 | Cottage Industries | small-scale production requiring little capital | 13 | |
| 55677834 | Commercial Industries | large-scale production of goods by large companies or corporations | 14 | |
| 55677835 | Industrialization | the process of creating commercial industry including heavy industry such as steel | 15 | |
| 55677836 | Trade | exchange of goods and services | 16 | |
| 55677837 | Technological Innovations | the introduction of new technology which often changes lifestyle and production | 17 | |
| 55677838 | Tariff/Duty | tax on imports and exports; in the U.S., export tariffs are unconstitutional | 18 | |
| 55677839 | Protective Tariff | a high tariff established to protect a particular industry | 19 | |
| 55677840 | Export | goods sold to buyers outside the country | 20 | |
| 55677841 | Import | goods bought from sellers in other countries | 21 |
