Globes & Maps
A globe is a __________ scale model of Earth
Round
What is the imaginary line in the middle of the Earth that divides it into Northern and Southern Hemispheres?
The Equator
The three key economic questions are: What to __________, how to __________ it, and who will __________ it?
produce/make, distribute, receive
A __________ economy is based on customs and traditions.
Traditional
Goods that leave a country and are sold elsewhere are called __________.
Exports
What do globes show better than maps?
The true size, shape, and distance of land and water
The __________ __________ divides Earth into Eastern and Western Hemispheres
Prime Meridian
What are the four major resources?
Land, Labor, Capital, Entrepreneurship
In a __________ economy, the central government decides what to make
Command
Goods that a country buys from another country are called __________.
Imports
What is a flat drawing of Earth’s surface called?
A map
Lines of latitude run which direction?
East to West
Money and tools used to run a business are called __________.
Capital
In a __________ economy, people make their own choices about what to buy and sell.
Market
The pattern of economies growing and shrinking is called the __________ __________.
Business cycle
: Unlike globes, maps cannot show true __________, __________, __________, and __________ all at the same time.
size, shape, distance, and direction
What degree is the Equator at?
0 degrees latitude
Running a business and taking the risks of that business is called __________.
Entrepreneurship
The United States has this type of economy.
Market Economy
When prices rise, this is called __________.
Inflation
What tool on a map shows the cardinal directions North, South, East, and West?
A compass rose
The system of latitude and longitude is like a __________ system.
grid
Using knowledge in a practical way to accomplish a task is called __________.
Technology
In a __________ economy, the government and individuals both have control over what is made.
Mixed Economy
The growth of free trade between countries is called __________.
Globalization