Econ#1
items that are raised, harvested, mined or made
Goods
Use of resources, money, materials, and work
Economy
absolute power is held by the king, queen, or emperor.
Absolute Monarchy
In the Eastern Hemisphere, the ___________ is a nation governed by the Pope and his cardinals.
Vatican City
Useful materials found in or on the Earth
Natural Resources
The making, selling, and moving of products (goods) and services
Industry
True or False: Most Absolute Monarchies exist in the Western Hemisphere.
False
the army usually seizes power from a weak government. Power is held by one or more high ranking officer.
Military Government
work that is performed by other people that does not involve manufacturing
Services
people who MAKE goods(products) and/or provide services
Producers
the ruling power is held by one political party.
Communist One-Party State
The Spanish call the Military Governments ____________
juntas
Unprocessed natural products used to manufacture goods
Raw Materials
People who USE goods (products) and/or services
Consumers
_______ is the only communist run country in the Western Hemisphere.
Cuba
people are given the choice to elect candidates from at least two political parties.
Multi-Party Democracy
the voters elect a leader, and elect people to a parliament or Congress.
Presidential Republic
The moving and selling of goods or services
Trade
power is held by a religious leader.
Theocracy
the royal family or emperor is head of the country, but has no real power. Instead, power is held by the Prime Minister.
Constitutional Monarchy