Vocabulary

Organizations

European Union- organization that has shared goals, yet they remain separate counties


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

Primary- raw materials


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

Communism

Truman doctrine- provides military and economic aid, to any country threatened by communism


Cold War- between democracy and communism, towards communism taking over

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Forms or government

Democracy- government by the people


Dictatorship- all power to one person


Monarchy- state/ nation which primary power is a monarch

Economies & agriculture

Subsistence agriculture - farming for one persons supply, only them or their families


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

World war 2

Marshall plan- American aid to Europe, to help rebuild European economies after ww11


Genocide- extermination/ discrimination towards one group

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Authority

Tariff - duties/ customs imposed by the government on imports and exports


Sanctions- used to punish a country for violating international laws

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Ethnicity

Diversity- the differences of the variety of cultures, religions, and ethnic groups


Stateless nation- ethnic group that does not makeup the majority of the population of the nation/ state

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