| A | B |
|---|
| political party | a group of people with similar beliefs about government |
| coalitions | when two or more parties join together in order to make a majority in a multi-party system. |
| platform | statement about a poltical party's beliefs |
| plank | what the party's policy is on a single issue |
| public opinion | generic term for what the majority of people may believe about an issue |
| interest groups | a group of people who have similar interests or concerns about an issue |
| bias | term that refers to one sided opinion on an issue |
| impartial | having no opinion on an issue |
| lobbying | the act of trying to influence people on behalf of an interest group |
| comparative advantage | when one nation is better able to produce a good or service than another nation |
| productivity | the amount of oa good or servie that can be produced in a given time |
| specialization of labor | method of having workers do only a part of a product but do it very efficiently |
| blue collar labor | physical labor |
| white collar labor | mental labor |
| mechanization | using machinery to make products or provide services |
| economies of scale | idea that a larger business is more efficent than a smaller one because of its ability to do things in larger volume |
| opportunity cost | this is the benefit tha tyou have tiven up in order to pursue an alternative |
| trade off | this is the choice that you make when face with economic decisions where you have to chose one thing over another |
