Economic Systems and Geography

A set of flashcards covering key vocabulary and concepts from the lecture on economic systems and geography.

Communism

A command economic system where the government sets the prices for goods and services.

Capitalism

The economic system in which individual decisions are made by the buyer and the seller.

Panama Canal

Referred to by the phrase 'The land divided; the world united.'

Geography term for the connection between North and South America

Pan.

Label for the continent that is south of North America

South America.

Label for the ocean located to the north of North America

Arctic Ocean.

Label for the ocean located to the east of North America

Atlantic Ocean.

Label for the ocean located to the west of North America

Pacific Ocean.

Label for the continent directly to the south of North America

Mexico.

What do you need to include in a map?

Title, heading, and compass rose.

Communism

A command economic system where the government sets the prices for goods and services.

Capitalism

The economic system in which individual decisions are made by the buyer and the seller.

Panama Canal

'The land divided; the world united' refers to this man-made waterway.

Geographical connection of the Americas

The term that describes how North and South America are connected is the Panama.

Compass Rose

A map feature that indicates directions (North, South, East, West) that should be included in a map.

Map Title

The heading or title of a map that indicates what the map is about.

Arctic Ocean

The ocean located to the north of North America.

Southern Ocean

The ocean that encircles Antarctica.

Indian Ocean

The ocean located to the south of Asia and to the east of Africa.

Antarctica

The continent located at the southernmost part of the world.