It is an economy that depends on farming and very simple barter trading. Examples include Neolithic farming villages and the first river civilizations.
What is traditional economy?
100
The part of the economy that produces raw materials; examples include agriculture, fishing, mining, and forestry
What is the primary industry?
100
A period of European history that included a rebirth of interest in learning and art, peaking in the 1500s
What is the Renaissance?
100
Government that is run by the people
What is democracy?
100
Literacy rate, life expectancy, gross domestic product (GDP), per capita
What are economic development indicators?
200
This is an economy that is controlled by the forces of supply and demand. Market economies, such as those run by Western European democracies have allowed these countries to grow large and strong.
What is market economy?
200
Businesses that take materials from primary industries and other secondary industries and make them into goods
What is the secondary industry?
200
The change from making goods by hand to making them by machine
What is Industrial Revolution?
200
A system of authoritarian government headed by a monarch, usually a king or a queen, who inherits the throne by birth
What is a monarchy?
200
Ural Mountains; Rhine River; Volga River; Danube River; Siberia; Italian peninsula
What are the physical features of Europe?
300
In the 20th century the Soviet Union and Communist China operated under this economic system. While short term gain did occur, the majority of people suffered under the system that paid little attention to food production or consumer goods.
What is command economy?
300
Sells goods to another business for them to sell to the consumer
What is wholesale?
300
A period of time which saw a massive increase in agricultural productivity and net output
What is the Agricultural Revolution?
300
A government where a state regulates nearly every aspect of public and private life
What is a totalitarianism?
300
Natural resources, labor, capita, and entrepreneurs
What are factors of production?
400
The United States and many nations in the European Union are under this system today.
What is mixed economy?
400
Activities such as banking, transportation, health care, and police protection
What is the tertiary industry (service industry)?
400
The act or process of establishing a colony or colonies
What is colonization?
400
A government in which property such as farms and factories are owned by the government for the benefit of all citizens; a political system in which the central government controls all aspects of citizens’ lives
What is communism?
400
This global conflict split the majority of the world's nations
into opposing military alliances: the Allies and the Axis powers.
What is World War II?
500
Owners have the freedom to manage their own business free from government interference. They choose what product or service, set their own prices, and own their business.
What is the free enterprise system?
500
Information technologies, including industries that provide internet services, computer software, cable, and telephone services
What is the quaternary industry?
500
United Greece, led the Corinthian League and conquered the Persian Empire
Who is Alexander the Great?
500
A government in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls
the economy
What is socialism?
500
Struggle between the United States and the Soviet Union that was fought with ideas, words, and money instead of soldiers