Better be last study guide

Hunter-gatherer societies

societies that depend on hunting wild animals and gathering uncultivated plants for survival, no governmental organization

Agriculture-based societies

beginning of modern civilization; stationary civilizations that grew crops and domesticated animals; formed government, laws, and economic systems

Mesopotamia

Tigris and Euphrates

Egypt

Nile River Valley

Indus Valley Civilization

Indus river (pakistan)

China

yellow river

Mesopotamia civilization

first civilization located between the Tigris & Eurphrates Rivers in present day Iraq; term means "land between the rivers;" Sumerian culture

mesopotamia developments

-Tools and Weapons

-Cereal Crops

-Agriculture

-Writing

-Irrigation

-Pottery

-Rectangular Homes

-Deforestation

-Domestication of plants and Animals

Sumerians

The people who dominated southern Mesopotamia through the end of the third millennium B.C.E. They were responsible for the creation of many fundamental elements of Mesopotamian culture-such as irrigation technology, cuneiform, and religious conceptions.

Assyrians

Known as a warrior people who ruthlessly conquered neighboring countries; their empire stretched from east to north of the Tigris River all the way to centeral Egypt; used ladders, weapons like iron-tipped spears, daggers and swords, tunnels, and fearful military tactics to gain strength in their empire

Babylonians

A group of people who conquered the Sumerians. They had a very famous king named Hammurabi. Hammurabi created nearly 300 laws known as Hammurabi's Code of Laws, the old known legal system based on the concept of "an eye for an eye, a tooth for a tooth".

Egyptian Advancements

writing, literature, art, architecture, mathematics and geometry, science

Indus Valley Advancements

-Urban Planning

-Brick Houses

-Draining Systems

-Water Supply Systems

-Cooper, Bronze, Metal

Yellow River Advancements

- Neolithic Period: farming, carvings and art, religion and pictographs, crops and craftsmen

- Bronze Age: weapons, tools, art

- Ancient China: Xia dynasty, Shang dynasty

Ancient Greece Contributions

Theater, Alphabet, Geometry, Historical writing, Philosophy, Democracy, Olympic Games, Gods, Myths

Roman Empire Contributions

architecture, latin, technology, system of law

Indian Contributions

Hinduism, Buddhism, Caste system, Gupta period of art

Chinese Contributions

Confucianism, Taoism

Byzantine Empire Contributions

diversity, epicenter for trade, orthodox church

Ottoman Empire Contributions

Controlled much of Western Europe

Africa Contributions

gold, iron, incense, ivory, wheat, barley, cotton, trans sahara trade

Central and South American Empires Contributions

corn, beans, squash, paper, mathematics, compass, writing, water management

Teotihuacan

pyramid of the sun

assembly line

drastically reduced the time it takes to make a product, allowing for mass production of consumer products (henry ford)

Light bulb

allowed people to work longer hours (thomas edison)

Bessemer steel

allowed steel to be mass produced (Andrew Carnegie)

Atomic energy

changed the impacts of war and diplomacy worldwide (Albert Einstein)

Sputnik

First satellite launched into space by the Russians. This triggered the Space Race between the Soviet Union and the United States.

Railroads

provided a fast, efficient, and reliable means of transporting goods and people across long distances. The construction of rail networks facilitated westward expansion, promoted trade and commerce, and

spurred economic growth

Interstate Highways

A network of roads that went through and connected US cities

age of reason

Transition from faith-based reasoning of the Medieval Era to rational reasoning, 17th Century

Thomas Hobbes

English materialist and political philosopher who advocated absolute sovereignty as the only kind of government that could resolve problems caused by the selfishness of human beings (1588-1679)

Rene Descartes

17th century French philosopher; wrote Discourse on Method; 1st principle "i think therefore i am"; believed mind and matter were completly seperate; known as father of modern rationalism

John Locke

English philosopher who advocated the idea of a "social contract" in which government powers are derived from the consent of the governed and in which the government serves the people; also said people have natural rights to life, liberty and property.

Thomas Paine

American Revolutionary leader and pamphleteer (born in England) who supported the American colonist's fight for independence and supported the French Revolution (1737-1809)

The enlightenment

A movement in the 18th century that advocated the use of reason in the reappraisal of accepted ideas and social institutions.

Bishop George Berkeley

Irish philosopher of immaterialism. Wrote "A Treatise Concerning the Principles of Human Knowledge"

Voltaire

French philosopher and writer whose works epitomize the Age of Enlightenment, often attacking injustice and intolerance.

Jean-Jacques Rousseau

A French man who believed that Human beings are naturally good & free & can rely on their instincts. Government should exist to protect common good, and be a democracy

Adam Smith

Scottish economist who wrote the Wealth of Nations a precursor to modern Capitalism.

Immanuel Kant

Greatest German philosopher of Enlightenment-separated science and morality into separate branches of knowledge-science could describe nature, it could not provide a guide for morality. Wrote Critique of Pure Reason

Edmund Burke

(1729-1797) Member of British Parliament and author of Reflections on the Revolution in France (1790), which criticized the underlying principles of the French Revolution and argued conservative thought.

Triangular Slave Trade

An efficient trading pattern where ships left Europe for Africa, then to the Western Hemisphere

age of revolution

Period of political upheaval beginning roughly with the American Revolution in 1775 and continuing through the French Revolution of 1789 and other movements for change up to 1848

French Revolution

The revolution that began in 1789, overthrew the absolute monarchy of the Bourbons and the system of aristocratic privileges, and ended with Napoleon's overthrow of the Directory and seizure of power in 1799.

Latin American Revolution

Series of risings in the Spanish colonies of Latin America (1810-1826) that established the independence of new states from Spanish rule but that for the most part retained the privileges of the elites despite efforts at more radical social rebellion by the lower classes.

Scramble for Africa

Sudden wave of conquests in Africa by European powers in the 1880s and 1890s. Britain obtained most of eastern Africa, France most of northwestern Africa. Other countries (Germany, Belgium, Portugal, Italy, and Spain) acquired lesser amounts.

Decolonization in Asia and Africa

After World War I, African and Asian colonies began to revolt against European rule. During World War II, European countries were unable to hold on to their colonies from the Central Powers. Japan invaded and seized British territory in Asia, including Malaya, Singapore, and Burma. By the end of the war, the Allied Powers wanted to discontinue colonialism and imperialism and foster the principles of sovereignty and self- determination

Anti colonial leaders

Mahatma Gandhi - India

Ho Chi Minh - Indochina

Messali Hadj - Algeria

European Exploration

voyages to new territories by European navigators in the 15th century,

European Colonization of the Americas

Invasion, settlement, and establishment of control of the continents of the Americas by various European powers: Spain, France and England.

American Colonies Revolt

Declare independence from Britain, initiating the revolutionary war

European Colonization of Africa and Asia

imperialism and trade trigger the scramble for africa, the berlin confrence is held to partition africa

African and Asian Colonies Revolt

The British Empire agreed to give India its independence after World War II. When the British withdrew, India split into two independent dominions

based on religion. The two dominions formed were India (Hindu) and Pakistan (Islam). Bangladesh gained independence from Pakistan in 1971. 35 developing nations were admitted to the United Nations. The United States tried to influence these new governments toward democracy while the Soviet Union tried to influence them toward the communist bloc.

Economy

The wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.

Depression

A long-term economic state characterized by unemployment and low prices and low levels of trade and investment

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in Gross Domestic Product (GDP) in two successive quarters

Market

A venue where producers and sellers can come together to buy and sell goods

Gross Domestic Product (GDP)

The value of all the goods and services a country produces in a year.

Capitalism

An economic system where business owners produce goods and provide services for sale in order to make a profit, not for personal consumption

Socialism

An economic system where there are no private business owners; there is a system of collective or government ownership and administration of production and distribution of goods.

Communism

An economic system where no private property exists and there is centralized production and distribution.

perfect competition

a market structure in which a large number of firms all produce the same product, producers cannot manipulate the price of the product, market share does not influence the price, and buyers have complete information

monopolistic competition

A market structure where producers sell similar goods and services, barriers to enter the market are low, and decisions made by one producer do not affect its competitors

Monopoly

A market in which there are many buyers but only one seller.

Oligopoly

A market structure in which a few large firms dominate a market

consumer spending

household spending on goods and services

Budgeting

A budget is a plan for spending and saving money. The main reason for making a budget and sticking to it is to save for future goals while meeting present needs.

Checking Account

A bank account where the account holder can make deposits and withdrawals, and access is unlimited.

Savings Account

A bank account where the account holder can make deposits and withdrawals, and the account earns interest. This type of account is commonly used to

store money for longer periods of time. The money is readily accessible.

money market accounts

A bank account with a higher interest rate than a savings account but with limited withdrawals per statement cycle. This type of account usually

requires a minimum balance.

certificates of deposit

A bank account with a higher interest rate than a money market account but from which the money cannot be withdrawn for a set period of time.

individual retirement account

A retirement account that offers tax advantages but cannot be withdrawn until retirement (age 59.5) without penalty.

US saving bonds

A government bond that is exempt from state and local taxes and is used to fund capital projects. The bond has a fixed interest rate for a fixed period

of time, usually 15-30 years. Federal taxes are applied at the time the bond matures.

consumer credit

The portion of credit consumers use to buy non-investment services.

advantage of consumer credit

Consumers can purchase goods and services and pay for them later over an extended period of time.

disadvantage of consumer credit

If consumers fail to repay a loan or a credit card balance, this impacts their credit scores, affects terms and conditions, and results in late fees and penalties

non-installment credit

short-term borrowing that ends with the borrower making one payment by the end of the credit period

close end credit

A specific amount of money is lent to the borrower—the total purchase price of the good or service.

revolving open end credit

credit provided up to a specified maximum amount based on income and credit history; interest is charged each month on the remaining balance

law of demand

consumers buy more of a good when its price decreases and less when its price increases

law of supply

the claim that, other things equal, the quantity supplied of a good rises when the price of the good rises

equilibrium

the intersection of the demand curve and the supply curve

Disequilibrium

Occurs when quantity demanded and quantity supplied are not in balance

excess supply

when quantity supplied is more than quantity demanded

excess demand

when quantity demanded is more than quantity supplied

elasticity

The degree in which consumers change their demand and producers change their supply in response to changes in price or income

elastic

The quantity demand of a good or service changes significantly when its price changes.

inelastic

The quantity demand of a good or service only changes modestly when its price changes

demand increases, supply increases

equilibrium price cannot be determined, Quantity increases

supply increases, demand decreases

Equilibrium price decreases, quantity cannot be determined

supply decreases, demand increases

Equilibrium price increases, Quantity cannot be determined

supply decreases, demand decreases

Equilibrium price cannot be determined, quantity decreases

cost scarcity

Limited availability of goods and services.

opportunity cost

the loss of potential gain when other alternatives are chosen

Investments

the action or process of investing money for profit or material result.

push factors

a factor that causes people to leave their homelands and migrate to another region

pull factors

Positive conditions and perceptions that effectively attract people to new locales from other areas

the potato famine

This was the famine that occurred in Ireland that killed of thousands of people because the main potato crop could not grow because of bad soil that year

embargo

an official ban on trade or other commercial activity with a particular country.