Mixed Economy Economic decisions are shared by the govt & the people

1. Mixed EconomyEconomic decisions are shared by the govt & the people

2. Market Economy Economic decisions are made by individuals or the open market.

3. Laissez-faire Hands off—no govt intervention in business

4. Tariff Tax on imports

5. Traditional economy Econ. decisions made by customs, religion, & other ideas handed down generation to generation.

6. Command economy Economic decisions are made by the government

7. trade A purchase or sale made with or without money

8. import Goods coming into a country (In=Import)

9. Export Goods going out of a country (Exit=Export)

10. Embargo/Blockade Govtrestiction of business/trade

11. Constitution The United States’ Supreme Law of the Land

12. Legislative Branch Branch that makes the laws (Congress= Senate + House of Rep)

13. Executive Branch Branch that enforces the law (Pres, military, law enforcement)

14. Judicial branch Branch that interprets the laws, makes sure they abide by the Constitution (Supreme Court)

15. Checks & Balances System put into place to make sure the 3 branches of govt do no become too powerful

16. Amend 1 Freedom of press, speech, petition, assembly, & religion

17. libel Printing things that are lies is not freedom of the presss

18. slander Saying things that you know are lies is not freedom of speech

19. Amend 13 Abolishing slavery

20. Amend 14 Everyone born in the US or naturalized are citizens; due process of law

21. Amend 15 African Amer. men are given the right to vote

22. Amend 16 Congress can order/collect income tax

23. Amend 17 Direct election of senators

24. Amend 18 Prohibition

25. Amend 19 Women’s right to vote

26. Amend 24 Poll taxes are banned

27. Amend 26 Lowered the voting age to 18 (from 21)

28. Enlightenment 17th century intellectual movement that worked to limit the power of the govt & church

29. John Locke Believer in natural rights: life, liberty, property (now pursuit of happiness in our constitution)

30. Montesquieu Believed in the separation of powers (3 branches of govt)

31. Voltaire Freedom of speech

32. Absolute Monarchy Form of govt in which the king/queen has all of the power

33. Presidential Democracy Form of govt in which people vote for most things, including the leader

34. Dictatorship Form of govt in which the leader usually takes over by military force & has all the power

35. Parliamentary Democracy Form of govt in which people vote for the leg. body, which in turn selects the prime minister

36. Constitutional Monarchy Form of govt in which the king/queen’s power is limited by written law

37. Theocracy Form of govt ruled by religious leaders

38. Absolutism Having complete & unrestricted power in govt (monarch)

39. Divine Right A ruler’s belief that God gave them the right to have power over a country

40. Oligarchy Govt in which a few people have all of the power

41. Populists Reform group that represented the farmers

42. Progressives Reform group that tried to end child labor & limit power of big businesses

43. Immigration Moving into a new a new country to settle (i=in)

44. Emigration Moving out of a country to settle in another (e=exit)

45. Industrial Revolution Change in the way things were made; made in factories instead of by hand

46. Assembly Line Allows mass production, and prices to fall as supply increases

47. slums Tenements; extreme poor living conditions caused by rapid urbanization

48. Monopoly When one company completely dominates an industry

49. urbanization People moved from rural areas to cities in order to be closer to factories

50. Labor Unions Created in response to horrible working conditions; fought for better pay & working conditions