Economics Basics
Flashcard
•
Other
•
6th - 8th Grade
•
Easy
JOHN GREENE
Used 1+ times
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45 questions
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1.
FLASHCARD QUESTION
Front
What does GDP stand for?
Back
Gross Domestic Product
2.
FLASHCARD QUESTION
Front
What is GDP?
Back
The total value of goods produced and services provided in a country during one year.
3.
FLASHCARD QUESTION
Front
Gross Domestic Product (GDP) per capita
Back
the average person's income per year
4.
FLASHCARD QUESTION
Front
Literacy Rate
Back
percentage of a population that can read and write
5.
FLASHCARD QUESTION
Front
Limited Government
Back
government's power is restricted by law (constitution)
6.
FLASHCARD QUESTION
Front
Unlimited
Back
a single ruler or a small group of people holds absolute power, with no legal restrictions (Laws)
7.
FLASHCARD QUESTION
Front
Totalitarian
Back
government holds complete authority over all parts of its citizens' lives
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