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EXTRA AMER. CIT. EXAM

Terms

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LAW OF DEMAND
quantity demanded and price move in opposite directions
LEGISLATIVE BRANCH
lawmakers
LABOUR PARTY
Gordon Brown; More active role for government; Democrat party
INTERNATIONAL TRIBUNALS
courts with authority from the UN to hear cases and make judgments about violations of international human rights law
CONSTITUTION
written plan for government
MERCANTILISM
the theory that a country should sell more goods to another country than it buys
COURT OF JUSTICE
world court (ex. trading over seas)
DYNASTIES
families that hold power for many generations
SEGREGATION
social separation of the races
PRECEDENT
a ruling in an earlier case that was similar
DICTATORS
a ruler who exercises complete control over a state
MONETARY POLICY
involves controlling the supply of money and the cost of borrowing money according to the needs of the community
DECLARATORY ACT
Parliament had the right to tax and make decisions for the colonist
AUTHORITARIAN
a government where one leader or group of people holds absolute power
MARKET ECONOMY
system where individuals own the factors of production and make economic decisions through free interaction
SOCIALISM
the belief that means of production should be owned and controlled by society, either directly, or through the government
ELECTORAL COLLEGE
A group of people who would be named by each state legislature to select the president and vice president
INCENTIVES
reward offered to try to persuade people to take certain economic actions
VARIABLE COST
expenses that change with the number of products produced, examples are wages and raw materials
MAYFLOWER COMPACT
It was the 1st example of direct democracy; all men can vote, and majority rules
ENVIRONMENTAL DISTRUCTION
coal burning factories, industries and motor vehicles, and acid rain are examples of things destroying the environment; we reduce pollution through conservation to help this issue
CITIZENSHIP
the rights and privileges of a citizen
POPULAR SOVEREIGNTY
the notion that power lies with the people

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