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Chapter 3 Reviewer

reviewing chapter 3

Rule of Majorityrefers to the way of democracy works. Political decisions are made when a mojority of people chose to vote in one way or the other.
Consumptionof goods is the act of buying or using up the goods
Jurisdictionis the area where an autority or a government are given authority or has power
Incentivesare things like grants of money, that encourage people to proceed with the production of an idea or product
Private sectorincludes all businesses that are run by people who do not work for the government
Import dutya fee paid when something is made outside the country and is brought into the country
Capitalmoney or property that can be invested in an industry
Disparitythings are unequal
goods and servicesall things for sale and all work done for others
Incomethe money made from work of sales
the phrase "global village"means that everyone on earth beelongs to the same community
Expert System Industryto produce computers that have collected knowledge of "experts" in a particular field of study
AdvocacyA strong defence of something
Remote-Sensing technologyuses satellites to take pictures of the earth
Person-years of employmenta formula that measures how many people can be employed for one year
Sovereigntythe greatest power of authority in an area


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