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words only definitions & notes
  1. mixed economy
    an economic system that combines private and state enterprises
    The study of economic systems includes traditional, market, command, and mixed economies.
  2. economic system
    the system of production and distribution and consumption
    The study of economic systems includes traditional, market, command, and mixed economies.
  3. market economy
    an economy that relies on market forces to determine prices
    A market economy is controlled by the forces of supply and demand.
  4. multiple-choice
    offering several alternative answers from which the correct one is to be chosen; or consisting of such questions
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  5. scarcity
    a small and inadequate amount
    Finally, the concept of scarcity must be explored and balanced.
  6. exam
    a set of questions testing your skill or knowledge
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  7. resource
    aid or support that may be drawn upon when needed
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  8. Communist China
    a communist nation that covers a vast territory in eastern Asia; the most populous country in the world
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  9. economy
    the system of production and distribution and consumption
    The study of economic systems includes traditional, market, command, and mixed economies.
  10. humans
    all of the living human inhabitants of the earth
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  11. consumer goods
    goods intended for direct use or consumption
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  12. centralized
    located in one place or under control of a single authority
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  13. factor
    anything that contributes causally to a result
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  14. explore
    travel to or penetrate into
    Finally, the concept of scarcity must be explored and balanced.
  15. balanced
    being in a state of proper equilibrium
    Human needs and wants also must be balanced within an economic system.
  16. relevant
    having a bearing on or connection with the subject at issue
    In the United States, all of the systems are relevant except for command, which was never really used.
  17. system
    a group of independent elements comprising a unified whole
    The study of economic systems includes traditional, market, command, and mixed economies.
  18. regent
    someone who rules during the absence of the monarch
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  19. natural resources
    resources (actual and potential) supplied by nature
    These factors include human resources, natural resources, and capital or money resources.
  20. New York State
    a Mid-Atlantic state; one of the original 13 colonies
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  21. enhance
    increase
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  22. survive
    continue in existence after
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  23. economic
    of or relating to production and management of wealth
    The study of economic systems includes traditional, market, command, and mixed economies.
  24. United States
    North American republic containing 50 states - 48 conterminous states in North America plus Alaska in northwest North America and the Hawaiian Islands in the Pacific Ocean; achieved independence in 1776
    In the United States, all of the systems are relevant except for command, which was never really used.
  25. production
    the act or process of making something
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  26. operate
    perform as expected when applied
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  27. barter
    exchange goods without involving money
    Traditional economies rely on farming and very simple barter trading.
  28. run by
    pass by while running
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  29. multiple
    having or involving more than one part or entity
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  30. include
    have as a part; be made up out of
    The study of economic systems includes traditional, market, command, and mixed economies.
  31. traditional
    consisting of or derived from a practice of long standing
    The study of economic systems includes traditional, market, command, and mixed economies.
  32. united
    being or joined into a single entity
    In the United States, all of the systems are relevant except for command, which was never really used.
  33. market
    a store where groceries are sold
    The study of economic systems includes traditional, market, command, and mixed economies.
  34. good and
    completely or thoroughly
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  35. focus on
    center upon
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  36. unlimited
    having no limits in range or scope
    Scarcity is the conflict between limited resources and unlimited need.
  37. site
    the piece of land on which something is located
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  38. farming
    the practice of cultivating the land or raising stock
    Traditional economies rely on farming and very simple barter trading.
  39. balance
    harmonious arrangement or relation of parts within a whole
    Human needs and wants also must be balanced within an economic system.
  40. produce
    bring forth or yield
    What should be produced?
  41. mixed
    consisting of a haphazard assortment of different kinds
    The study of economic systems includes traditional, market, command, and mixed economies.
  42. colonist
    one who settles or establishes a settlement in a new region
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  43. rely on
    put trust in with confidence
    Traditional economies rely on farming and very simple barter trading.
  44. concept
    an abstract or general idea inferred from specific instances
    Finally, the concept of scarcity must be explored and balanced.
  45. command
    an authoritative direction or instruction to do something
    The study of economic systems includes traditional, market, command, and mixed economies.
  46. human
    a person; a hominid with a large brain and articulate speech
    These factors include human resources, natural resources, and capital or money resources.
  47. mix
    mix together different elements
    The study of economic systems includes traditional, market, command, and mixed economies.
  48. services
    performance of duties or provision of space and equipment helpful to others
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  49. Soviet Union
    a former communist country in eastern Europe and northern Asia; established in 1922; included Russia and 14 other soviet socialist republics (Ukraine and Byelorussia and others); officially dissolved 31 December 1991
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  50. 20th
    coming next after the nineteenth in position
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  51. trading
    buying or selling securities or commodities
    Traditional economies rely on farming and very simple barter trading.
  52. used
    previously owned by another
    In the United States, all of the systems are relevant except for command, which was never really used.
  53. controlled
    restrained or managed or kept within certain bounds
    A market economy is controlled by the forces of supply and demand.
  54. access
    the right to enter
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  55. responsible for
    being the agent or cause
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  56. rely
    have confidence or faith in
    Traditional economies rely on farming and very simple barter trading.
  57. focus
    the concentration of attention or energy on something
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  58. need
    require or want
    Human needs and wants also must be balanced within an economic system.
  59. state
    the way something is with respect to its main attributes
    In the United States, all of the systems are relevant except for command, which was never really used.
  60. history
    a record or narrative description of past events
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  61. consumer
    a person who uses goods or services
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  62. student
    a learner who is enrolled in an educational institution
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  63. occur
    come to pass
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  64. theme
    the subject matter of a conversation or discussion
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  65. paid
    marked by the reception of pay
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  66. combination
    the act of bringing things together to form a new whole
    A mixed economy is a combination of market and command.
  67. industrial
    of or relating to commercial enterprise
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  68. included
    enclosed in the same envelope or package
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  69. responsible
    worthy of or requiring trust; held accountable
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  70. designed
    done or made or performed with purpose and intent
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  71. attention
    the act of concentrating on something
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  72. limited
    subject to restrictions or constraints
    Scarcity is the conflict between limited resources and unlimited need.
  73. review
    look at again; examine again
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  74. largely
    mainly or chiefly
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  75. conflict
    an open clash between two opposing groups
    Scarcity is the conflict between limited resources and unlimited need.
  76. good
    having desirable or positive qualities
    How should goods be produced?
  77. colony
    a group of organisms of the same type living together
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  78. preparation
    setting in order in advance some act or purpose
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  79. tend
    have a disposition to do or be something; be inclined
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  80. addition
    the arithmetic operation of summing
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  81. service
    an act of help or assistance
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  82. extent
    the point or degree to which something extends
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  83. growth
    changing gradually from a simple to a more complex level
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  84. must
    a necessary or essential thing
    Human needs and wants also must be balanced within an economic system.
  85. majority
    the main part
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  86. needs
    in such a manner as could not be otherwise
    Human needs and wants also must be balanced within an economic system.
  87. Communist
    a member of the communist party
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  88. choice
    the act of selecting
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  89. within
    on the inside
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  90. Soviet
    of or relating to or characteristic of the former Soviet Union or its people
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  91. Union
    the United States
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  92. community
    a group of people living in a particular local area
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  93. pay
    give money, usually in exchange for goods or services
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  94. today
    on this day as distinct from yesterday or tomorrow
    The United States operates under this system today.
  95. China
    a communist nation that covers a vast territory in eastern Asia; the most populous country in the world
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  96. under
    below some quantity or limit
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  97. test
    standardized procedure for measuring sensitivity or aptitude
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  98. continue
    keep or maintain in unaltered condition
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  99. farm
    workplace or land used for growing crops or raising animals
    Traditional economies rely on farming and very simple barter trading.
  100. serve
    devote one's life or efforts to, as of countries or ideas
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  101. question
    a sentence of inquiry that asks for a reply
    All of these systems attempt to answer the same questions.
  102. capital
    a large alphabetic character used in writing or printing
    These factors include human resources, natural resources, and capital or money resources.
  103. limit
    as far as something can go
    Scarcity is the conflict between limited resources and unlimited need.
  104. material
    the substance that goes into the makeup of a physical object
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  105. government
    the system or form by which a community is ruled
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  106. design
    the act of working out the form of something
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  107. aid
    the activity of contributing to the fulfillment of a need
    When scarcity of any resource occurs, new factors of production must be explored for humans to continue to survive

    This site is designed to aid students in reviewing the economic systems and factors of production in United States history.
  108. simple
    having few parts; not complex or complicated or involved
    Traditional economies rely on farming and very simple barter trading.
  109. finally
    as the end result of a sequence or process
    Finally, the concept of scarcity must be explored and balanced.
  110. gain
    obtain
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  111. supply
    circulate or distribute or equip with
    A market economy is controlled by the forces of supply and demand.
  112. control
    power to direct or determine
    A market economy is controlled by the forces of supply and demand.
  113. trade
    the commercial exchange of goods and services
    Traditional economies rely on farming and very simple barter trading.
  114. food
    any substance that can be metabolized by an animal
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  115. knowledge
    the result of perception, learning, and reasoning
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  116. natural
    relating to or concerning the physical world
    These factors include human resources, natural resources, and capital or money resources.
  117. term
    a limited period of time during which something lasts
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  118. demand
    request urgently and forcefully
    A market economy is controlled by the forces of supply and demand.
  119. century
    a period of 100 years
    The Soviet Union and Communist China in the 20th century operated under this economic system.
  120. living
    pertaining to living persons
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  121. study
    applying the mind to learning and understanding a subject
    The study of economic systems includes traditional, market, command, and mixed economies.
  122. except
    prevent from being included or considered or accepted
    In the United States, all of the systems are relevant except for command, which was never really used.
  123. suffer
    undergo or be subjected to
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  124. attempt
    make an effort
    All of these systems attempt to answer the same questions.
  125. New York
    the largest city in New York State and in the United States
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  126. necessary
    absolutely essential
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  127. York
    the English royal house that reigned from 1461 to 1485
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  128. past
    earlier than the present time; no longer current
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  129. early
    at or near the beginning of a period of time or course of events or before the usual or expected time
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  130. strong
    having strength or power greater than average or expected
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  131. really
    in actual fact
    In the United States, all of the systems are relevant except for command, which was never really used.
  132. short
    having little length or lacking in length
    While short term gains did occur, the majority of people suffered under system that paid little attention to food production or consumer goods.
  133. much
    great in quantity or degree or extent
    How much?
  134. force
    influence that results in motion, stress, etc. when applied
    A market economy is controlled by the forces of supply and demand.
  135. money
    the most common medium of exchange
    These factors include human resources, natural resources, and capital or money resources.
  136. State
    the federal department in the United States that sets and maintains foreign policies
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  137. New
    used of a living language
    This site should be used in preparation for the New York State Regents Exam in United States History and Government.
  138. in this
    (formal) in or into that thing or place
    Included in this theme are factors of production, which are the resources necessary to produce goods and services.
  139. present
    happening or existing now
    In addition, students may test their knowledge of the material presented here by accessing multiple-choice questions from past Regents Exams.
  140. answer
    a statement made to reply to a question or criticism
    All of these systems attempt to answer the same questions.
  141. form
    a perceptual structure
    Early colonist used this form of economy within their own communities, and to some extent, with other colonies.
  142. run
    move fast by using one's feet
    A command economy is run by a strong centralized government and tends to focus on industrial goods.
  143. live
    have life, be alive
    Attention must be paid to the resources humans need to survive, and to those goods and services that serve to enhance living.
  144. between
    in the interval
    Scarcity is the conflict between limited resources and unlimited need.
  145. country
    the territory occupied by a nation
    The United States used a market economy for much of its history, and it is largely responsible for the growth of the country.
  146. want
    the state of needing something that is absent or unavailable
    Human needs and wants also must be balanced within an economic system.
Created on Wed Feb 24 14:05:28 EST 2010

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