Competency 24: Government & Citizenship Flashcards
Bill of Rights
Ratified on December 15, 1791.
Set of ten amendments to US constitution that outline the rights of US citizens. Ex) Freedom of religion, assembly, keep & bear arms, freedom of speech, of the press, protection from those accused of crimes.
Articles of Confederation
The first constitution of the 13 American states, adopted in 1781 and later replaced in 1789 by Constitution.
Declaration of Independence
Written by Thomas Jefferson & issued to England on July 4, 1776.
States 13 colonies declared they were free & not subject to government of GB
Provides list of grievances against England.
Outlines basic human rights of life, liberty, and pursuit of happiness
US Constitution
Defines gov. of US.
Splits gov. into 3 branches
Nations highest law
ratified 7/21/1788
Replaced articles of confederation
Provided for strong central gov along with state gov
Has 3 parts (preamble, main body & amendments)
Texas Declaration of Independence
Issued to Mexico on March 2, 1836.
Texas has been governed by how many constitutions?
8:
1st in 1824 (republic of mexico
last in 1876 (current)
Free Enterprise System
Economic system in which people own and run their own businesses.
Scarcity
How to satisfy unlimited wants with limited resources
Capital Goods
Items used in creation of other goods (factory machinery, trucks)
Durable Goods
Any good that lasts more than 3 years when used on a regular basis.
Non-Durable Goods
Any item that lasts less than 3 years when used on regular basis.
Capital
physical assets (machinery, equipments, buildings, inventories, etc)
Factors of Production/resources
Elements a nation has at its disposal to deal with issue of scarcity:
land-natural resources, etc.
capital-investment monies
labor-work force, size, education, quality work ethic
Entrepreneurs- inventive
Inflation
General increase in prices across economy over period of time.
Opportunity Cost
Cost of an economic decision