Economic And Great depression Flashcards
Private or corporate ownership of goods and means of production,investments are determined by private decision and prices, production, and distribution of hoods are determined mainly by competition
Capitalist economy
System of producing goods and services,distribution,and money
Economy
System in which the means of production and goods are owned by the government and are available to all is needed along with elimination of private property.
Communist economy
System of collective or government ownership and administration of the means of production and distribution of goods
Socialist economy
Money that is left over after the expenses are paid
Profit
Represents a piece of a company’s growth and profits
Stock
The money needed to buy goods needed to produce a product
Capital
What quantity and what price people are willing and able to buy the product at given times
Demand
Share of profits paid to a stockholder
Dividend
What quantity and what price is available to buy at a given time
Supply
The rate of exchange for a good or service
Price
Negotiates contracts for purchase and sale
Broker
Amount loaned at a person’s disposal
Credit
Amount taken against a bank account
Debit
Period of reduced economic activity, a slow down
Recession
Increase in general price level
Inflatation
Period of low general economic activity in several areas marked especially by rising levels of unemployment
Depression
groups of shacks in which the homeless lived during the Great Depression
Hooverville
October 29, 1929 was the day the stock market crashed signaling started Great Depression
Black Tuesday
Region in the central Great Plains that was hit by severe drought during the 1930s
Dustbowl
Group of black leaders who unofficially advise Pres. Franklin D Roosevelt
Black cabinet
Worst period of economic decline in U.S history, 1929-1941
Great Depression
Veterans who marched to Washington in 19 3210 Amand immediate payment of world one bonus
Bonus army
Programs that help the needy
Relief programs
Projects built by the government for public use
Public works
Pay only part of the cost of the stock when they make the purchase, down payment 10% if value falls to .5 repay loan
On margin
Pres. During G.D ( 1939-1933
Herbert Hoover
Closed everything bank in the country for four days
Bank holiday
Spoke in a chair near a fireplace in White House
Fireside chats
A mural by Grant Wood who painted an Iowa farmer and a daughter who looked determine to survive the hardships
American Gothic
Three main goals:
1) relief for jobless
2) plans for economic recovery
3) reforms to prevent another depression
New Deal
Sum of money paid to people on a regular basis after they retire
Pension
Process by which a union representing a group of workers negotiate with management for contract
collective bargaining
Stop all machines and refused to leave the factory
Sit down strike
Government spent more then took in
Deficit spending
People who moved from one region to another in search of work
Migrant workers
gave Indians more control over their own affairs
Indian new deal
1939 Novel by John Steinbeck
Grapes of wrath
Movie after science fiction novel with Orson Welles
War of worlds
Gov. of New York 1928 and presidential candidate in 1932
Franklin D Roosevelt
College professors who are experts on economic issues
Brain trust
Symbol for NRA
blue Eagle
