People Places and Change Chapter 5 Review

Who is an entrepreneur 

• A person who works in all the industries
• People that start businesses in a free enterprise system

What is a free enterprise system?

• Companies make whatever they want to, employees can ask for as high wages as they want, and people control the factors of production, which determines what goods are produced in an economy
  
• A system in which you're free to travel where ever you want

What is commercial agriculture?

• Farms that are very large and they may only produce one product
  
• Farms that grow just enough food for the farmer and their families
  

What is substence agriculture?

• Farms that are very large and they may only produce one product
• Farms that grow just enough food for the farmer and their families

Explain a traditional economy

• An economy based on customs and tradition. Economic activities are based on the laws, rituals, religious beliefs, or habits developed by ancestors
  
• A learned system of shared beliefs and ways of doing thing’s that guides a person's daily behavior
  

Explain Gross National Product

• the value of goods and services that a country produce in a year. It includes factories owned by the country's citizens but located in foreign countries
  
• Goods and services produced within the country only, not including factories owned by the country's citizens but on foreign land
  

Explain Gross Domestic Product

• Goods and services produced within the country only, not including factories owned by the country's citizens but on foreign land
  
• Is the value of goods and services that a country produce in a year. It includes factories owned by the country's citizens but located in foreign countries

Explain the death rate

• the number of deaths per 1000 people
  
• How many people die per new born births

Explain population density

• How many people per square mile or kilometer
• the number of deaths per 1000 people

What is an ethnic group?

• Cultural groups that share the same beliefs and practices learned from parent, grandparents, and ancestors
• A learned system of shared beliefs and ways of doing thing’s that guides a person's daily behavior