Economic terms
Anything that slows or prevents exchanges of goods and services among countries
What is a trade barrier?
A government where the citizens can vote
What is a democracy?
An adjective used to describe anything, particularly people, that is native to an area
What is Indigenous?
Generating work and influence on a world-wide scale
What is globalization?
A system of changing one type of money to another that is needed because different currencies have different values
What is a currency exchange?
A type of government in which a small group of people have all the power to make decisions
What is an oligarchy?
The violent overthrow of a government by a smaller group
What is a coup d'etat?
The process of focusing on producing one type of good or service
What is specialization?
Elements of all three economic systems are visible within a given government
What is a mixed economy?
A government that shares some powers with the state governments and is governed by a president. Citizens can vote
What is a federal presidential republic?
A large ranch or estate
What is a hacienda?
An association of groups who manufacture and supply goods
What is a cartel?
An economy where decisions are driven by what consumers want or need
What is a market economy?
A republic run by a president, similar to a federal presidential republic. Citizens can vote
What is a presidential republic?
What is a campesino?
A tax on all resources, goods, and services purchased and imported from another country
What is a tariff?
What is an embargo?
A government where the government has all the power and does everything for the people, similar to communism. Cuba calls itself this
What is a unitary socialist state?
A person of mixed race, usually Indigenous and Spanish descent
What is a mestizo?
A limit placed on the number of goods or resources that can be purchased from another country
What is a quota?