Unit 6
by Kenzie Robidoux
Levels of The Economy
World Peace
EU
The European Union is a politico-economic union of 28 member states that are located primarily in Europe
United Nations
organization that includes virtually all countries in the world, with nearly 190 member nations.
NATO
The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty
Sanction
any actions taken by one nation or group of nations to harm the economy of another nation or group, often toforce a political change
Group Ethnicity
Stateless Nation
ethnic group, religious group, linguistic group which is not the majority population in any nationstate.
Trading
EU
The European Union is a politico-economic union of 28 member states that are located primarily in Europe
Outsourcing
obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.
Infrastructure
Consists of the basic support systems needed to keep an economy going, including power, communications,transportation,water, sanitation, and education.
NAFTA
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Mexico, along with the US and Canada, is a vital member of NAFTA (North American Free Trade Agreement).
Globalization
tendency of businesses, technologies, or philosophies to spread throughout the world
GDP
value of all the finished goods and services produced within a country's borders in a specific time period
OPEC
The group is the Organization of Petroleum Exporting Countries, also known as OPEC.
Type of Economy
Traditional
economic system in which traditions, customs, and beliefs shape the goods and the products the society
Free Enterprise/ Capitalist
an economic system in which private business operates in competition and largely free of state control.
Communism
Truman Doctrine
the principle that the US should give support to countries or peoples threatened by Soviet forces or communist insurrection
Marshall
A program by which the United States gave large amounts of economic aid to European countries to help them rebuild after the devastation of World War I
Cold War
a state of political hostility between countries characterized by threats, propaganda, and other measures short of open warfare, in particular.