By: Ayden Tollefson


To penalize someone for an action.


A range of different things.

Levels of economic activity-

Primary- Raw materials.

Secondary- Processing & Manufacturing.

Tertiary- Business & Professional services.

Quaternary- Information & Intellectual services.

Quinary- High level decision making.


Obtaining goods and services from a foreign supplier.


The EU, "European Union", was formed in 1993 for the purpose of achieving political and economic integration for all members.

Truman Doctrine-

A principle in which the U.S should give support to countries threatened by the Soviets or other communist parties.

Marshall Plan-

A program made by the U.S which gave large amounts of economic aid to European countries after WW2.

Cold War-

The state of political hostility between the Soviets and the western powers between 1945 and 1990.


The "North Atlantic Treaty Organization" was formed in 1949 by the North Atlantic Treaty for the purpose of collective defense for all its members.


The "United Nations" we're formed in 1945 to increase political and economic cooperation between all member countries.


The deliberate killing of a people group, ethnic group, or nation.

Forms of Government-

Democracy- A system of government where the power lies on the people.

Dictatorship- A type of government where the power lies on one person, the dictator.

Monarchy- A form of government where there is a monarch (royal family member) in charge.

Types of Economy-

Command- Full government control.

Free Enterprise- Limited government involvement. Socialism.

Traditional- traditions, customs and beliefs shape the goods and products the society creates.

Mixed- Limited government involvement, mandatory laws and regulations, takes parts from all of the economies.

Types of farming-

Subsistance farming- self-sufficient.


The basic building blocks of an economy.


A tax on imports and exports.


"North American Free Trade Agreement"


The increased flow of trade over a period of time.


"Gross Domestic Product"- All of the goods and services produced by a nation state.

Stateless Nation-

A group with a language that are not the majority in a nation, therefore do not have a state.


The "Organization of Petroleum Exporting Countries" was formed to control worldwide oil prices and the production quotas.