Goverment Terms Flashcards
United Nation
An international organizations whose aim is cooperation in internal law
European Union
A political and economic union of many European country. With a central bank and common economic system
Traditional Economy
Goods are traded without exchange money
Command economy
Production is determined by a central government
Market economy
Free enterprise production is determined by the demand from consumer
Mixed economy
Socialism mix of command and market economy
Primary economy
Raw materials
Secondary economy
Materials by changing forms
Tertiary economy
Business or professional services
Quaternary
Provides eduction
GPD
Total value of goods produced in a country
Per capita GPD
GPD divided by pop.
Human development
Measures poverty, literacy, education
Literacy
Ability to read and write
Life expectancy
Average expected life span
