Vocabulary

Annemarie Byers

Types of economies

Democracy-citizens hold power through an elected representative or directly

Dictatorship-power through force

Monarchy-reign passed down/inherited

Traditional-bartering, money has no value

Free enterprise/capitalist-limited government involvement, people answer questions

Mixed-partial government involvement through mandatory laws and regulations that businesses must follow

Command-communism

Factors in balancing world peace

European Union-political and economic integration

United Nations-keeps world peace and prevents another world war

Sanctions-used by UN to punish a country for an international violation

NATO-military alliance-democratic countries-Europe and North America

Vocabulary continued

Economy

Economic levels

Primary-raw materials

Secondary-processing and manufacturing

Tertiary-business and professional services

Quarternary-information and intellectual services

Quinary-high level decision making

World Geography Vocabulary