Vocabulary
Organizations
NATO- treaty organization, formed to destroy communism
United Nations- created in replace of the League of Nations, maintains peace and friendship between countries
NAFTA- North American free trade agreement, one of the largest free trade organizations
OPEC- formed to establish oil- exporting policies and set prices
Economic activity levels
Secondary- processing and manufacturing
Tertiary- businesses and professional services
Quaternary- information and intellectual services
Quinary- high level officials in field such as government, science, healthcare, and media
Primary
Secondary
Quinary
Communism
Cold War- between democracy and communism, towards communism taking over
Forms or government
Dictatorship- all power to one person
Monarchy- state/ nation which primary power is a monarch
Dictatorship
Monarchy
Democracy
Economies & agriculture
Traditional economy- where traditions, customs, and beliefs shape the goods/ products the society creates
Free enterprise- trade, industry, and the means of productions are largely owned for profit
Mixed economy- elements of public and private enterprise
Command economy- distribution of goods and services are controlled by the government
Globalization- increase flow of trade, people, technology, culture, and ideas among countries
GDP- gross domestic product
Infrastructure- basic things needed in order for a country to thrive EX: roads & rivers
Infrastructure
Mixed economy
Subsistence agriculture
World war 2
Genocide- extermination/ discrimination towards one group
Authority
Sanctions- used to punish a country for violating international laws
Ethnicity
Stateless nation- ethnic group that does not makeup the majority of the population of the nation/ state