Chapter 4 Sections 3-5

Mixed Economy

--An economy that combines elements of the command and market economies--some gov't involvement, but people mostly make their own choices. --Technically, all economies are mixed.

Communism

A political system in which the government owns all property and dominates all aspects of life in a country.

Metropolitan area

A(n) ___ is a functional area including a city and its surrounding suburbs and exurbs, linked economically (ex. Dallas-Fort Worth area)

Nation

A(n) ___ is a group of PEOPLE with a common culture living in a territory and having a strong sense of unity.

Suburb

A(n) ___ is a political unit or community touching the borders of the central city or touching other suburbs that touch the city.

Command economy

A(n) ___ is a type of economic system in which production of goods and services is determined by a central government, which usually owns the means of production (ex. N. Korea)

Market economy

A(n) ___ is a type of economic system in which production of goods and services is determined by the demand from consumers (ex. US)

Monarchy

A(n) ___ is a type of government in which a ruling family headed by a king or queen holds political power and may or may not share the power with citizen bodies.

Dictatorship

A(n) ___ is a type of government in which an individual or a group holds complete political power.

Democracy

A(n) ___ is a type of government which citizens hold political power either directly or through elected representatives.

City

A(n) ___ is an area that is the center of business and culture and has a large population.

Natural resources

A(n) ___ is material on or in the earth that has economic value.

Megalopolis

A(n) ___ is several metropolitan areas grown together (ex: upper east coast of US has several large cities close together)

Economic system

A(n) ___ is the WAY people produce and exchange goods.

Economy

A(n) ___ is the production and exchange of goods and services among a group of people.

examples of Nations without a state

Palestinians, Kurds, Basques (these are nations of people with no land of their own)

Central business district (CBD)

The ___ is the core of a city, which is almost always based on commercial activity.

4 Types of Economic Systems

Tradition-based Market (a.k.a. Capitalism or Free Enterprise) Command Mixed

Landlocked

___ describes a country that has no outlet to the sea.

Per capita income

___ is the average amount of money earned by each person in a political unit.

Infrastructure

___ is the basic support systems needed to keep an economy going, including power, communications, transportation, water, sanitation, and education systems.

Urbanization

___ is the dramatic rise in the number of cities and the changes in lifestyle that result.

Urban geography

___ is the study of how people use space in cities.

Gross Domestic Product (GDP)

___ is the total value of all goods and services produced within a country in a period of time.

state

a political unit (AREA) with borders, population, and government (example: a country)

-ism

belief in

natural boundaries

boundaries determined by geographic features such as mountains or rivers (ex: Ural Mts. = boundary between Europe and Asia)

difference between commercial and industrial property

commercial = business (offices, stores, etc.) industrial = manufacturing plants (where products are made), utilities (natural gas, electricity, hydro-electric plants, nuclear energy, etc.)

commu-

common, community, public

Tradition based economy

economy based on customs, laws, rituals, religious beliefs, and habits (ex. Amish)

-ator

he who

mono

one

demo-

people

-arch

rule by, govern

-cracy

rule by, govern

dict-

speak, declare

artificial boundaries

straight-line boundaries determined by a line of latitude or longitude (ex: 49º N lat makes up most of the US-Canadian border)