White Vocabulary Warm up #1

High Demand Equals…

• Higher prices
• Economic system
  in which people
  are encouraged
  to market their
  ideas for profit;
  little government interference
  
• Countries buy and
  sell goods to
  each other based
  on what they
  have and what
  they need.
  
• Lower Prices

Free Enterprise

• Economic system
  in which people
  are encouraged
  to market their
  ideas for profit;
  little government interference
  
• Countries buy and
  sell goods to
  each other based
  on what they
  have and what
  they need.
  
• Lower Prices
• Money that is brought in to a country through taxation

Economic Interdependence

• Countries buy and
  sell goods to
  each other based
  on what they
  have and what
  they need.
  
• Lower Prices
• Money that is brought in to a country through taxation
• A law passed
  that prohibited
  all exports from the United States
  

High Supply Equals…

• Lower Prices
• Money that is brought in to a country through taxation
• A law passed
  that prohibited
  all exports from the United States
  
• Time period from 1817-1823 of American pride (nationalism),
  peace, & prosperity under Pres. Monroe
  

Revenue

• Money that is brought in to a country through taxation
• A law passed
  that prohibited
  all exports from the United States
  
• Time period from 1817-1823 of American pride (nationalism),
  peace, & prosperity under Pres. Monroe
  
• An example
  set by a leader
  for others
  to follow
  

Embargo Act

• A law passed
  that prohibited
  all exports from the United States
  
• Time period from 1817-1823 of American pride (nationalism),
  peace, & prosperity under Pres. Monroe
  
• An example
  set by a leader
  for others
  to follow
  
• 1st
  Supreme Court
  case where a
  law was
  declared unconstitutional;
  established judicial review
  

“Era of Good Feelings”

• Time period from 1817-1823 of American pride (nationalism),
  peace, & prosperity under Pres. Monroe
  
• An example
  set by a leader
  for others
  to follow
  
• 1st
  Supreme Court
  case where a
  law was
  declared unconstitutional;
  established judicial review
  
• Formal ceremony to mark the beginning of office; oath of the President

Precedent

• An example
  set by a leader
  for others
  to follow
  
• 1st
  Supreme Court
  case where a
  law was
  declared unconstitutional;
  established judicial review
  
• Formal ceremony to mark the beginning of office; oath of the President
• Scholar of U.S. Constitution;
  the first to
  declare a law unconstitutional
  

Marbury v.Madison

• 1st
  Supreme Court
  case where a
  law was
  declared unconstitutional;
  established judicial review
  
• Formal ceremony to mark the beginning of office; oath of the President
• Scholar of U.S. Constitution;
  the first to
  declare a law unconstitutional
  
• Policy of avoiding political or military agreements with
  other countries (first established by George Washington)