{"id":360,"date":"2018-02-15T09:19:40","date_gmt":"2018-02-15T14:19:40","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/biggars\/?p=360"},"modified":"2018-02-15T09:19:40","modified_gmt":"2018-02-15T14:19:40","slug":"econ-2-1-vocab","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/biggars\/2018\/02\/15\/econ-2-1-vocab\/","title":{"rendered":"Econ 2.1 Vocab"},"content":{"rendered":"

New Chapter means New Vocab!<\/strong><\/span><\/p>\n

    \n
  1. Economic System \u0627\u0644\u0646\u0638\u0627\u0645 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a: how a nation uses its resources to satisfy its people’s needs and wants.<\/li>\n
  2. Society \u0627\u0644\u0645\u062c\u062a\u0645\u0639: a group of people in an area<\/li>\n
  3. Traditional Economy \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a: use of scarce resources are based on customs, ritual, or habits<\/li>\n<\/ol>\n
      \n
    1. Advantages \u0627\u0644\u0645\u0632\u0627\u064a\u0627: something good\/positive\/helpful<\/li>\n
    2. Disadvantage \u0627\u0644\u0639\u064a\u0628: bad\/negative\/hurts<\/li>\n
    3. stagnation: not changing<\/li>\n
    4. Command Economy \u0642\u064a\u0627\u062f\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f: central authority (government) makes all major economic decisions<\/li>\n
    5. restricts \u064a\u0642\u064a\u062f: stops<\/li>\n
    6. bureaucracy: government does everything<\/li>\n
    7. Market Economy \u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0633\u0648\u0642: the people make their own decisions for their best interests<\/li>\n
    8. Market – \u0627\u0644\u0633\u0648\u0642: place where buyers and sellers exchange goods and services<\/li>\n
    9. Capitalism \u0627\u0644\u0631\u0623\u0633\u0645\u0627\u0644\u064a\u0629: where citizens own the factors of production and decide their use (private businesses)<\/li>\n<\/ol>\n
        \n
      1. inability – \u0639\u062f\u0645 \u0627\u0644\u0642\u062f\u0631\u0629: not able to do something<\/li>\n
      2. competition – \u0627\u0644\u0645\u0646\u0627\u0641\u0633\u0629: trying to make more money than others<\/li>\n
      3. Mixed Economy – \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u062e\u062a\u0644\u0637: economy with a combination of traditional, command, and market economies<\/li>\n<\/ol>\n
          \n
        1. Socialism: Mixed system where the government owns some factors of production and also provides for its people’s basic needs<\/li>\n<\/ol>\n
            \n
          1. Communism: all production owned by the government<\/li>\n
          2. strict \u0635\u0627\u0631\u0645\u0629: demanding<\/li>\n
          3. collectively – \u062c\u0645\u0627\u0639\u064a\u0627: working together<\/li>\n
          4. inefficient – \u063a\u064a\u0631 \u0641\u0639\u0627\u0644\u0629: wasting time, failing to produce<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

            New Chapter means New Vocab! Economic System \u0627\u0644\u0646\u0638\u0627\u0645 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a: how a nation uses its resources to satisfy its people’s needs and wants. Society \u0627\u0644\u0645\u062c\u062a\u0645\u0639: a group of people in an area Traditional Economy \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a: use of scarce resources are based on customs, ritual, or habits Advantages \u0627\u0644\u0645\u0632\u0627\u064a\u0627: something good\/positive\/helpful Disadvantage \u0627\u0644\u0639\u064a\u0628: bad\/negative\/hurts stagnation: not […]<\/p>\n","protected":false},"author":2107,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-360","post","type-post","status-publish","format-standard","hentry","category-econ"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/users\/2107"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/comments?post=360"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/360\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/media?parent=360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/categories?post=360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/tags?post=360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}