Latitude/Longitude
An imaginary line that measures a location’s distance north or south of the Equator
latitude
How many continents are there?
7
What are the three branches of government?
Legislative, Executive, Judicial
the study of how decisions are made about how to allocate, or distribute limited resources to satisfy unlimited wants
economics
When countries or people exchange goods or services, it’s called this.
Trade
An imaginary line that measures a location’s distance east or west of the prime meridian
longitude
How many oceans are there?
5
Which branch of government makes laws?
legislative
A tax on imported goods
tariff
Which type of economy is based on supply and demand?
Market Economy
Which imaginary line divides the world into northern and southern hemispheres?
equator
Europe and Asia
In this type of government, citizens get to vote and help make decisions.
democracy
3 types of trade barriers
tariff, embargo, quota
unlimited wants but limited resources
scarcity
This line of longitude runs through Greenwich, England, and divides the Earth into the Eastern and Western Hemispheres.
Prime Meridian
In which continent is the United States located?
North America
In this type of government, one person has all the power.
Autocracy
3 types of economic systems
traditional, market, and command
When someone gives up one choice in order to get another
opportunity cost
An exact location on Earth, expressed using latitude and longitude
Absolute Location
Which continent is also a country?
Australia
What are the two types of democracy?
Presidential and Parliamentary
This type of economy combines elements of both government control and free-market choices.
Mixed Economy
This measures the total value of all goods and services produced in a country in one year.
Gross Domestic Product (GDP)