Vocabulary

Sanction

Penalty for disobeying a law

Diversity

When there is a variety of cultures
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Primary

First hand
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Secondary

Second hand
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Tertiary

Third handed
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Quaternary

Belonging to the fourth order
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Quinary

Belonging to the fifth order
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Outsourcing

Getting supplies from outside your own country
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EU


  1. The European Union is a politico-economic union of 28 member states that are located primarily in Europe. The EU operates through a system of supranational institutions and intergovernmental negotiated decisions by the member states.


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Truman Doctrine

  1. the principle that the US should give support to countries or peoples threatened by Soviet forces or communist insurrection. First expressed in 1947 by US President Truman in a speech to Congress seeking aid for Greece and Turkey, the doctrine was seen by the communists as an open declaration of the Cold War.

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Marshall Plan

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 II. It was proposed by the United States secretary of state, General George C. Marshall.
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Cold War

  1. state of political hostility between countries characterized by threats, propaganda, and other measures short of open warfare, in particular.




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NATO


  1. The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949

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UN

  1. An organization that includes virtually all countries in the world, with nearly 190 member nations. Its General Assembly, in which each member nation has one vote, guides policies and finances generally.

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Genocide

Mass killing of a certain culture, ethnic group, religious group, ect.
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Democracy

a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
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Dictatorship

Government run by a dictator
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Infrastructure

    1. the basic physical and organizational structures and facilities needed for the operation of a society or enterprise.

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Monarchy

Government run by a king or queen
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Subsistence Agriculture

  1. self-sufficiency farming in which the farmers focus on growing enough food to feed themselves and their families. The typical subsistencefarm has a range of crops and animals needed by the family to feed and clothe themselves during the year.

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Capitalist

a wealthy person who uses money to invest in trade and industry for profit in accordance with the principles of capitalism.
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Traditional Economy

  1. original economic system in which traditions, customs, and beliefs shape the goods and the products the society creates. Countries that use this type of economic system are often rural and farm-based.

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Command Economy




  1. an economy in which production, investment, prices, and incomes are determined centrally by a government.




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Mixed economy

  1. an economic system combining private and public enterprise.

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Tariff





  1. a tax or duty to be paid on a particular class of imports or exports.









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NAFTA

  1. most comprehensive regional trade agreement ever negotiated by the United States and is scheduled to be fully implemented by the year 2008. In 1996, U.S. two-way trade in goods under the NAFTA with Canada and Mexico stood at $420 billion--a 44 % increase since the NAFTA was signed.

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Globalization

  1. process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.



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GDP

  1. The monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis.


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Stateless-Nation

  1. ethnic group, religious group, linguistic group or other cohesive group which is not the majority population in any nation state. The term implies that the group "should have" such a state, and thus expresses irredentism.

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OPEC

  1. Cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries.



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