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Chapter 14- The Economy

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3.Exchanges of goods and services that are not reposrted to the government and thereby escape taxation.
4.The direct exchange of one item for another.
7.An economic system characterized by the public ownership of the means of production, central planning, and the distribution of goods without a profit motive.
8.Time not taken up by work or necessary activities.
11.The control of an entire industry by a single company.
14.The amount of goods and services produced by a nation.
18.A device that allows its owners to chagne purchases against his or her bank account.
21.A society based on large-scale agriculture.
24.Companies that operate across national boundaries.
27.The same people serving on the board of directors of several companies.
29.Paper money backed by gold.
31.A device that allows it's owner to purchase goods and to be billed later.
32.A receipt stating that a certain amount of goods is on deposit in a warehouse or bank.
34.The goods that are stored and held in reserce that back up a currency.
35.A small group of highly interconnected individuals in which wealth and power are so concentrated that they make the world's major decisions.
36.An increase in prices.
37.Any item that serves as a medium of exchange.
1.A human group that depends on hunting and gathering for it's survival.
2.Paper money.
5.A hybrid economic system in which the individual ownership of businesses is mixed with the state ownership of industries thought essential to the public welfare, such as the postal service and the delivery of medicine and utilities.
6.A system of producing and distributing goods and services.
9.A type of economy in which human groups live off the land and have little or no surplus.
10.An economic system characterized by the private ownership of the means of production, the pursuit of profit, and market competition.
12.Unrestained manufacture and trade.
13.The view that as capitalist and socialist economic systems each adopt features of the other.
15.Durkheim's term for the interdependence that results from the division of labor; people depending on others to fulfill their jobs.
16.Durkheim's term for the unity that people feel as a result of performing the same or similar tasks.
17.The refusal of a corporation's stockholders to rubber-stamp decisions made by its managers.
19.An economis system in which individuals own the means of production but the state regulates many economic activities for the welfare of the population.
20.The homination of an economic system by giant corporations.
22.Thorstein Veblen's term for a change from the Protestant ethic to an eagermess to show off wealth by the consumption of goods
23.The law of supply and demand.
25.The fundamental changes in society that follow when vast numbers of women enter the workforce.
26.The means by which people place a value on goods and services in order to make an exchange.
28.A business enterprise, often jointly owned, whose assets, liabilities, and obligations are separate from those of its owners.
30.Currency issued by a government that is not back by stored value.
33.Digital money that is stored on computers.

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