Economic geography terms Flashcards
consists of the production and exchange of goods and services among a group of people
Economy
goods and services are trades without exchanging money ‘barter’
Traditional econmy
production of goods and services in determining by a central government
Command economy
production of goods and services determined by the demand from consumers ‘capitalism’
Market economy
a combination of command and market economies provides goods and services so that all people benefit
mixed economy
an independent unit that occupies a specific territory and full control of its internal and external affairs country means ____)
State
a group of people with common culture living in a territory and having strong sense of unity
Nation
When a nation and a state occupy the same territory
Nation-State
some nations do not have a territory, i.e, kurds and palestinians
Stateless-nation
citizens hold political power, either directly or through elected representatives
Democracy
a ruling family heads by a kind or queen hold political power and may or may not share the power with citizens bodies
Monarchy
an individual or group holds complete political power
Dicatorship
in this government and economic system nearly all political power ad means of production are held by the government and of all people
Communisim
