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Government Vocab.
US Govt. Fundamentals
Judiciary and Legislature
Fundamental Global Economy Terms
More International Trade
100
Power is divided state and national government
What is Federalism
100
Majority Rule
What is popular sovereignty?
100
The range of operation, authority, control, concern, etc. the purpose or scope of a statute (law).
What is Purview?
100
The government regulates or controls some sectors of the economy while other sectors of the economy are more controlled by the free market.
What is a Mixed Economy?
100
The interconnectedness of different economies around the world largely due to better communication and transportation technologies.
What is Globalization?
200
People elect representative to make decisions for them
What is Republic
200
Power is divided between the three branches of government
What is Separation of Powers?
200
A written legal document used in various legal adversarial systems that is presented to a court arguing why the party to the case should prevail.
What is a brief?
200
The government controls major sectors of the economy and makes all decisions about, production, distribution, income, and pricing
What is Socialism (Command Economy)
200
The government gives money to selected businesses in order to help them continue to provide a product at a lower cost to the consumer.
What is subsidies?
300
To reject
What is veto
300
Each branch can limit the power of the other two branches
What is Checks and Balances
300
A temporary, ad hoc panel composed of House and Senate conferees that is formed for the purpose of reconciling differences in legislation that has passed both chambers
What is a Conference Committee?
300
Economy centers around small groups such as families, tribes, or ethnic groups.
What is Traditional Economy
300
The ability of a nation or business to produce a particular good or service at a lower cost usually due to geography or culture.
What is Comparative Advantage?
400
Officially approve
What is ratification
400
Powers listed in the Constitution for the Legislature
What are “Enumerated Powers?
400
A committee set up for a special purpose usually for a limited time
What is Select Committee?
400
A post-industrialized or industrialized economy that has a large base of productive capital, sophisticated banking systems and financial markets, a variety of industries producing a broad range of products, and vigorous and varied international trade.
What is a More or Most Developed Nation
400
Having high tariffs in order to help domestic businesses and jobs.
What is Protectionism?
500
An addition to the Constitution
What is an amendment?
500
The ability of Congress to pass any law that is “necessary and proper”
What are “Implied Powers”?
500
A committee composed of an equal number of members of both the House and the Senate and jointly investigate or research.
What is a Joint Committee?
500
Have rapidly growing base of productive capital and rising incomes.
What are Newly Developed Countries?
500
When a country sends products or produce that they cannot not sell in their own country to other countries at a below market price.
What is Economic "dumping"?