GLOBAL ISSUES DICTIONARY STUDENT SAMPLE. ECONOMICS CAPITALISM: an economic system based on the private ownership of the means of production and distribution.

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Presentation transcript:

GLOBAL ISSUES DICTIONARY STUDENT SAMPLE

ECONOMICS CAPITALISM: an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit (free market system) Sentence: Capitalism does not support economic equality of its citizens.

COMMUNISM: any system of government in where a single, usually totalitarian, party holds power, and the state controls the economy. Sentence: Communism supports the principle of economic equality of all its citizens.

Gross Domestic Product (GDP): the total value of all goods and services produced within a country in a year, minus net income from investments in other countries. Sentence: The Gross Domestic product, of the United States is declining thought it still amounts to trillions of dollars every year.

GOVERNMENT Democracy: A government where the leaders rule with the consent of the its citizens. Direct Democracy: a country with a government that has been elected freely and equally by all its citizens Sentence: Greece invented the idea of a direct democracy where all its citizens participated in government. Indirect Democracy: a political system or form of government in which people elect representatives to exercise power for them. Sentence: The United States is a republic, a form of indirect democracy.

IMPORTANT TERMS Culture: the beliefs, customs, practices, and social behavior of a particular nation or people. Also the art, music, literature, and related intellectual activities, considered collectively. Sentence: Americans value hard work and education.