A witty saying proves nothing. - Voltaire

P

Parliamentary System:

A form of government that gives governmental authority to a legislature that selects the executive from its own members.

Per Capita:

Per unit of population.

Physical Capital:

The existing tools, machinery, buildings, and other physical items, accumulated through investment that increases labor's ability to produce.

Physical Environment:

One's surroundings that can be altered.

Physical Feature:

Aspect of place or area that derives from the physical environment.

Physical Map:

A map that shows physical features such as mountains, rivers, and oceans.

Place:

A particular geographical area, e.g. a village, a city, a district in a city, a country.

Pluralistic Society:

A state of society in which members of diverse ethnic, racial, religious, or social groups maintain an autonomous participation in and development of their traditional cultures or special interests within the confines of a common civilization.

Political Map:

A map that shows such things as national and state boundaries and the names and locations of towns and cities.

Political Party:

A group of people with broad common interests who organize to win elections, control government, and influence government policies.

Popular Sovereignty:

A principle of government in which the vote of the citizens is considered the final authority; (also: a term applied during the pre-Civil War era to the proposed popular elections on the issue of slavery in previously unorganized territories).

Pre - Agricultural Society:

A society in which economic activities are associated with hunting or gathering, and which are not associated with the domestication of animals or the production of crops.

Presidential System:

A government in which voters elect the president or chief executive for a fixed term of office. Voters also elect members of the legislative branch.

Price:

The cost that must be paid for an item.

Price Control(s):

A governmental action that sets the price or limits changes in the price. A price ceiling is a limit above which no price can go. A price floor is a limit below which no price can go.

Price Elasticity:

A measure of responsiveness in quantities bought or sold to a change in price. More precisely, the percentage change in quantity bought or sold which results from a 1 percent change in price.

Primary Source:

A document or other source of information that was created at the time being studied by an authoritative source, usually one with direct personal knowledge of the events being described.

Prime Meridian:

The meridian at zero degrees longitude. Used as a reference line from which longitude each and west is measured. It passes through Greenwich, England.

Producer(s):

A person who transforms productive resources into goods or services.

Production:

The act of creating goods and services by combining economic resources.

Productive Resource:

A natural resource, human capital, or capital resource.

Profit:

Revenues minus costs.

Propaganda:

The dissemination of information for the purpose of helping or hurting an institution, cause, or person.

Property Rights:

With regard to a resource, the right to use, the right to exclude others from use, and the right to transfer these rights.

Public Good:

A good or service the consumption of which does not prevent its consumption by other individuals.

Public Policy:

The decisions and actions of government.

Push/Pull Factors:

Push factors involve a force which drives people away from a place and the pull factor is what draws them to a new location.