Terms We Need To Know

Question 0

What is the term for a class of people whose money, property, and governmental influence is passed from parents to children, making it so that the same families remain in control?

Answer 0

Aristocracy

Question 1

Define: apartheid

Answer 1

Enforced segregation of black and white people in South Africa that lasted until the mid-1990s

Question 2

What does GDP stand for?

Answer 2

Gross domestic product

Question 3

Define Gross Domestic Product

Answer 3

The total amount of goods and services produced by a nation in a year

Question 5

Define bourgeoisie

Answer 5

A class of people who work in trade and professions and make a comfortable living. Often called “the middle class”

Question 6

Give the economic term that means a fixed amount of money to be paid to someone every year.

Answer 6

annuity

Question 7

Give the economic term that means the amount of money a corporation takes in beyond its expenses

Answer 7

profit

Question 8

Give the economic term that means a refusal by a specific group to buy a certain product or to buy from a specific corporation.

Answer 8

boycott

Question 9

Give the economic term that means the exchange of one good or service for another.

Answer 9

barter

Question 10

Give the economic term that means a person who starts a business or organization.

Answer 10

entrepreneur

Question 11

Give the legal term for a major crime that requires prison time.

Answer 11

felony

Question 12

Give the legal term for a formal request to a higher court to review the decision of a lower court

Answer 12

appeal

Question 13

Give the legal term for a person not yet of age to exercise all legal rights

Answer 13

minor