Transcript Civics & Economics Top 100

Civics & Economics
Top 100
What every student should know to
pass the Civics & Economics EOC
Goal 6
Goal 6: The learner will explain why
laws are needed and how they are
enacted, implemented, and enforced at
the national, state, and local levels.
Foundations of Law
• Code of Hammurabi –
– the earliest legal code known in its entirety
• Ten Commandments –
– ten injunctions given to Moses, serving as the
basis of Mosaic Law
• Justinian Codes –
– the collections of laws and legal interpretations
developed under the sponsorship of the
Byzantine emperor Justinian I
Types of Laws
• Common law –
– a body of law based on judges’ decisions
• Criminal law –
– the group of laws that tell which acts are
crimes, how accused persons should be
tried in court, and how crimes should be
punished
• Civil law –
– the group of laws that help settle
disagreements between people
Types of Laws
• Constitutional law –
– a body of statutory and case law based on,
concerns, or interprets a constitution
• Administrative law –
– the body of rules, regulations, orders, and decisions
created by administrative agencies of government
• Statutory law –
– the body of laws created by legislative statutes
• International law –
– the body of rules that nations generally recognize as
binding in their conduct toward one another.
Creation of Laws
• The early leaders of our nation knew that it
was important to establish a set of laws for
the nation.
• Laws must be fair, reasonable, and
understandable.
Lobbying Procedures
Interest groups
work to convince senators
and representatives to
support bills that help their
members and to oppose bill
that hurt them. This is done
by hiring
lobbyists,
people who represent
interest groups.
Mass Media
• Newspapers, motion pictures, radio,
television, and magazines, all of which
have the technical capacity to deliver
information to millions of people.
Consequences of Breaking the Law
• A major purpose of laws is to keep the
peace and prevent violent acts.
• Laws set punishments that are meant to
discourage potential criminals from such
acts as murder, assault, or robbery.
Types of Punishments
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Probation
Juvenile detention
Community service
House arrest
Prison
Boot camp
Criminal Trial Process
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Arrest –
- Police arrest and book suspect
Preliminary Hearing –
- Suspect appears before a judge, bail is set
Indictment –
- Grand jury hears evidence and formally charges the
suspect with a crime
Arraignment –
- Defendant pleads not guilty, trial date is set. OR
Defendant pleads guilty and accepts a plea bargain.
Trial –
- Prosecution and defense present cases to jury.
Jury reaches verdict.
Acquittal –
- Defendant found not guilty and goes free.
OR
Sentencing –
- Defendant found guilty, judge sentences defendant.
Civil Trial
1. Plaintiff’s attorney files a
complaint
1. Court sends a
to defendant
2. Defendant’s attorney files a written answer
3. Attorneys for both sides exchange
4. Attorneys for plaintiff and defendant argue
case in court
5. Court gives a verdict
Law Enforcement Agencies
• Federal Bureau of Investigation (FBI)
• State Bureau of Investigation (SBI)
• Municipal or county law enforcement
Independent Agencies
There are three types of independent agencies:
• Executive Agencies
are under the direct control of the President. (NASA,
EPA)
• Regulatory Commissions
make and carry out rules for certain business or
economic activities. (FCC, CPSC)
• Government Corporations
are like private businesses, but provide public
services. (US Postal Service)
Regulatory Commissions
• The Food and Drug Administration (FDA)
monitors the purity, effectiveness, and
labeling of food, drugs, and cosmetics.
• The Federal Communications Commission
• (FCC) makes rules for radio and television
stations.
• The Consumer Product Safety Commission
• (CPSC) sets safety standards for products.
Informed Citizenry
• “Ignorance of the law is no excuse.”
Civics & Economics
Top 100
What every student should know to
pass the Civics & Economics EOC
Goal 7
Goal 7: The learner will investigate how
and why individuals and groups make
economic choices.
Factors of Production
• Resources necessary to produce goods
and services
• The four factors of production are
natural resources, labor, capital, and
entrepreneurs.
Natural Resources
• Gifts of nature that make production
possible
Labor
• Human effort directed toward producing
goods and services
Capital
• Previously manufactured goods used to
make other goods and services
Entrepreneurs
• Individuals who start new businesses,
introduce new products, and improve
management techniques
Scarcity
• Not having enough resources to produce
all of the goods and services we would like
to have
Trade-offs
• The alternative you face if you decide to
do one thing rather than another
Opportunity Costs
• The cost of the next best alternative use of
time and money when choosing to do one
thing rather than another
Law of Diminishing
Returns
• The tendency for a continuing application
of effort or skill toward a particular project
or goal to decline in effectiveness after a
certain level of result has been achieved.
Marginal Utility
• The additional satisfaction a consumer
gains from consuming one more unit of a
good or service.
Productivity
• The degree to which resources are being
used efficiently to produce goods and
services
Specialization
• When people, businesses, regions and/or
nations concentrate on goods and
services that they can produce better than
anyone else
Division of Labor
• The breaking down of a job into separate,
smaller tasks to be performed individually
Needs
• Requirements for survival, such as food,
clothing, and shelter
Wants
• Things we would like to have, such as
entertainment, vacations, and items that
make life comfortable and enjoyable
Cost-Benefit Analysis
• Economic model that compares the
marginal costs and marginal benefits of a
decision
Command Economy
• An economic system in which the major
economic decisions are made by the
central government
Market Economy
• An economic system in which individuals
own the factors of production and make
economic decisions through free
interaction
Mixed Economy
• An economic system combining the
characteristics of more than one type of
economy
Traditional Economy
• An economic system in which the
decisions of what, how, and for whom to
produce are based on custom or habit
Civics & Economics
Top 100
What every student should know to
pass the Civics & Economics EOC
Goal 8
Goal 8: The learner will
analyze features of the
economic system of the
United States.
Economic Questions
• Economics is the study of how we make
decisions in a world where resources are
limited.
• WHAT to produce?
• HOW to produce?
• FOR WHOM to produce?
Free Enterprise System
• Economic system in which individuals and
businesses are allowed to compete for
profit with a minimum of government
interference
Circular Flow Model
• Circular flow shows us that input from each
sector and to each sector spurs on
production and thus goods and services are
created.
Supply
• The amount of goods and services that
producers are able and willing to sell at
various prices during a specified time
period
• Law of Supply –
the principle that suppliers will normally
offer more for sale at higher prices and less
at lower prices
Demand
• The desire, willingness, and ability to buy
a good or service
• Law of Demand –
the concept that people are normally
willing to buy less of a product if the price
is high and more of it if the price is low
Types of Income
• Wages –
Payment for labor or services to a
worker, especially remuneration on
an hourly, daily, or weekly basis or
by the piece.
• Salary –
Fixed compensation for services,
paid to a person on a regular basis.
Surplus
• Situation in which quantity supplied is
greater than quantity demanded
• Situation in which government spends less
than it collects in revenue
Shortage
• Situation in which
quantity demanded is
greater than quantity
supplied
Competition
• The struggle that
goes on between
buyers and sellers
to get the best
products at the
lowest prices
Types of Businesses
• Sole Proprietorship –
a business owned and operated by
a single person
• Partnership –
a business owned by two or more people
• Corporation –
type of business organization owned by many
people but treated by law as though it were a
person
Labor Unions
• Association of workers
organized to improve
wages and working
conditions
Investments
• An asset or item that is purchased with the
hope that it will generate income in the future.
• In an economic sense, an investment is the
purchase of goods that are used in the future
to create wealth.
• In finance, an investment is a monetary asset
purchased with the idea that the asset will be
sold at a higher price in the future.
Civics & Economics
Top 100
What every student should know to
pass the Civics & Economics EOC
Goal 9
Goal 9: The learner will analyze factors
influencing the United States economy.
Business Cycle
• Alternating periods of growth, and decline
that the economy goes through
Economic Indicators
• Series of statistical figures,
such as the consumer price
index or the gross domestic
product, used by
economists to predict future
economic activity.
Consumer Price Index
• An index of prices used to
measure the change in the
cost of basic goods and
services in comparison
with a fixed base period.
Also called cost-of-living
index.
Gross Domestic Product (GDP)
• The total market value of all the goods and
services produced within the borders of a
nation during a specified period.
Government Regulation
• A regulation is a legal restriction promulgated by
government administrative agencies through
rulemaking supported by a threat of sanction or a
fine.
• Common examples of regulation include attempts
to control market entries, prices, wages, pollution
effects, employment for certain people in certain
industries, standards of production for certain
goods and services.
Globalization
• Individuals and nations working across
barriers of distance, culture, and
technology
Downsizing
• To become smaller in
size by reductions in
personnel
Regional Economic Issues
• North Carolina’s furniture and textile
industries have been affected by
globalization. Many factories in North
Carolina have closed.
Tariffs
• A customs duty; a tax on an imported
good
North American Free Trade
Agreement (NAFTA)
• An agreement between the United States,
Canada, and Mexico to establish free
trade. It took effect in 1994 and is
designed to eliminate trade barriers
between the three nations by 2009.
World Trade Organization (WTO)
• An international
organization based in
Geneva that monitors
and enforces rules
governing global trade
European Union (EU)
• An economic and political union established in
1993 by members of the European Community.
• The establishment of the European Union
expanded the political scope of the European
Economic Community, especially in the area of
foreign and security policy, and provided for the
creation of a central European bank and the
adoption of a common currency, the euro.
Federal Reserve System
• A U.S. banking system that
consists of 12 federal reserve
banks, with each one serving
member banks in its own
district. This system,
supervised by the Federal
Reserve Board, has broad
regulatory powers over the
money supply and the credit
structure.
National Debt
• The debt of the government; the amount of
borrowing by the government to meet
expenditures exceeding tax revenues.
Inflation
• Sustained increase in the general level of
prices
Civics & Economics
Top 100
What every student should know to
pass the Civics & Economics EOC
Goal 10
Goal 10: The learner will develop, defend,
and evaluate positions on issues
regarding the personal responsibilities of
citizens in the American constitutional
democracy.
Civic Responsibilities
• It is comprised of actions and
attitudes associated with
democratic governance and social
participation.
• Civic responsibility can include
participation in government,
church, volunteers and
memberships of voluntary
associations.
Discrimination
• Unfair treatment based on prejudice
against a certain group
Freedom
• Freedom emphasizes the opportunity given
for the exercise of one's rights, powers,
desires, or the like: freedom of speech or
conscience; freedom of movement.
Public Problems
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Under employment
Education needs
Graft and corruption
Citizen apathy
Disease
Poverty
Substance abuse
Discrimination
Waste Disposal
Homelessness
Crime
Pollution
Choices
• The power, right, or liberty to choose