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Vocabulary flashcards covering key terms from political ideologies, economic systems, economic sectors, and urban geography concepts presented in the notes.
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Communism
A political and economic theory derived from the ideas of Karl Marx where the government owns all businesses and farms and provides its people's healthcare, education, and welfare.
3 main things HDI measures
Life expectancy
Literacy
GDP per capita
Traditional can mean…
Barter/trade
Free enterprise can mean…
Market
Communist can mean…
Command economy
Socialist can mean…
Mixed economy
Capitalism
A free-market economy where people own their own businesses and property and must buy services for private use, such as healthcare.
Dictatorship
A political ideology featuring rule by a single leader who has not been elected and may use force to keep control.
Feudalism
An economic ideology where peasants and vassals serve a powerful lord who protects them and takes care of their economic needs.
Democracy
A form of government elected by the people, where everyone who is eligible to vote has a chance to have their say over who runs the country.
Constitutional Monarchy
A political ideology where a parliament (elected officials) and the monarch (head of state) rule together under the law.
Oligarchy
A form of government consisting of rule by an elite group who rule in their own interests, especially the accumulation of wealth and privilege.
Republic
A political ideology led by representatives of the voters, each individually chosen for a set period of time.
Communist Economy
A command economic system where a large part of the economic system is controlled by a centralized power that plans and redistributes resources.
Free Enterprise Economy
An economic system in which firms and households act in self-interest to determine resource allocation, production, and purchasing, with no government intervention in a pure market state.
Socialist Economy
A mixed economic system combining market and command structures, using policies from both socialism and capitalism.
Traditional Economy
An economic system where goods and services are traded without exchanging money, using a bartering system based on traditions and village needs.
Primary Sector
The economic sector focused on extracting or harvesting raw materials and basic foods directly from the earth.
Secondary Sector
The economic sector where natural resources are manufactured, refined, and processed to produce finished goods.
Tertiary Sector
The economic sector consisting of the service industry, which provides professional goods and services and distributes products.
Quaternary Sector
The economic sector focusing on intellectual and information services, conducting research, and consulting to develop and improve products.
Urban Geography
The study of how people use space in cities.
Exurbs
Smaller cities and towns with space around them.
Metropolitan Area
A functional area formed by the combination of a central city, suburbs, and exurbs.
Central Business District
The core of a city where business activity takes place.
Megalopolis
A region formed when several metropolitan areas grow together.
Urban Sprawl
The outward spread of a city and its suburbs.