Social Studies Vocab
Terms
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- Money
- any substance that serves as a medium of exchange, a measure of value, and a store of value
- Insurrection
- an act of rebellion against the established government
- Subversion
- a systematic attempt to overthrow a government by using persons working secretly from within
- Liberal
- a person who generally believes the government should take an active role in the economy and in social programs but that the government should not dictate social behavior
- Marginal Utility
- the extra usefulness gained from consuming one more unit of a product
- Liquidity
- ability to converted an asset into cash quickly
- Communism
- an economic system in which the central government directs all major economic decisions
- Imperialism
- the actions used by one nation to exercise political or economic control over smaller or weaker nations
- Fascism
- a political system headed by a dictator that calls for extreme nationalism and racism and has no tolerance for opposition
- Elasticity
- a measure of responsiveness that tells us how a dependent variable such as quantity responds to an independent variable such as price
- Nulification
- the failure or refusal of a U.S. state to aid in the enforcement of federal laws within its state limits
- Amnesty
- the act of granting pardon to a large group of people
- Bilingualism
- the practice of teaching immigrant students in their own language
- Isolationism
- the avoidance of involvement in world affairs
- Inflation
- a rise in the general level of prices
- Trade-Off
- alternatives that must be given up when one is chosen over another
- Consumer Price Index
- statistics that measures overall changes in price or inflation over time
- Standard of Living
- the quality of life based on the possession of necessities and luxuries that make life easier
- Political Machine
- an organization linked to a political party that often controlled local government
- Consumer Sovereignty
- the concept that the consumer is the ruler of the market
- Brinkmanship
- the wilingness to go to the brink of war to force an opponent to back down
- Multinational Corporation
- large corporation with overseas investments
- Confederacy
- a loose union of independent states; name of government used by the southern states that suceded during the Civil War
- Containment
- the policy designed to keep the Soviet Union from expanding its power
- Flexible Responce
- the buildup of conventional troops and weapons to allow a nation to fight a limited war without using nuclear weapons
- Nuclear Proliferation
- the spread of nuclear weapons to new nations
- Corporation
- an organization that is authorized by law to carry on an activity but treated as though it were a single person
- Conservative
- a person who believes government power, particularly in the economy, should be limited in order to maximize individual freedom
- Downsizing
- reducing a company in size by laying off workers and managers to become more efficient
- Ethnic Cleansing
- the expulsion, imprisonment, or killing of ethnic minorities by a dominant majority group
- Terrorism
- the use of violence by non-government groups against civilians to achieve a political goal by instilling fear and frightening governments into changing policies
- Deregulation
- relaxation of government regulation on industry
- Supply
- the amount of a product that would be offered for sale at all possible prices that could prevail in the market
- Unemployed
- people available for work who made a specific effort to find a job during the past month and who, during the most recent survey week, worked less than one hour for pay
- Euro
- the basic currency shared by the countries of the European Union since 1999
- Depression
- a state of the economy with large numbers of unemployment, supply shortages, and excess capacity in manufacturing plants
- Detente
- relaxation of tensions between the United States and its two major Communist rivals, the Soviet Union and China
- Gross Domestic Product
- the dollar amount of all final goods and services produced within a country's borders in a year
- Internationalism
- a national policy of actively trading with foreign countries to foster peace and prosperity
- Federal Reserve System
- privatly owned, publicly controlled, central bank of the United States
- State Sponsored Terrorism
- violent acts against civilians that are secretly supported by a government in order to attack other nations without going to war
- Minimum Wage
- the lowest legal wage that can be paid to most workers
- Scarcity
- the condition that results from limited resources combined with unlimited wants
- Impeachment
- a formal accusation of misconduct in office against a public official
- Tariff
- a tax on an imported product
- Self-Determination
- belief that people in a territory should have the ability to choose their own government
- Suffrage
- the right to vote
- Capitalism
- economic system in which private citizens own and use the factors of production in order to generate profits
- Segregation
- the seperation or isolation of a race, class, or group