World Geo Vocabulary

By:Kristin Coleman

Level of Economics

Primary-importance being first or highest

Secondary-next after first in order

Tertiary-of the third order

Quaternary-arranged in fours

Quinary-arranged in fives

Different types of Governments

Democracy-government by the people

Dictatorship-overbearing power

Monarchy-supreme power held by a single person

Infastructure-the fundamental facility serving a country,city,as transportation and communication systems,power plants,and schools

Important Actions

Tariff-a tax placed on imported and exported goods

Outsourcing-to contract out

European Union-formed in 1993 for the purpose of achieving political and economic integration

Truman Doctrine-the policy of president Truman,advocated in his address to a Congress on March 12 1947 to provide military and economic aid to Greece and turkey and extension to any country threatened by communism

Marshall plan-was the American way to aid Europe giving 17 billion from the United States to help rebuild European economies

Cold War-intense economic,political,military,& ideological between nations,short of military conflict economics threatened by communism

NATO- organization formed in 1949 including the 12 nations of the Atlantic pact together with Greece,turkey,and the federal republic of Germany or the purpose of collective defense against aggression

United Nations-International organization with headquarters in NYC formed to promote international peace,security,and cooperation

Genocide-The deliberate and systematic extermination of a national,racial,political,or cultural group

Different Economy's

Traditional Economy-in an original economic system in which traditions,customs,and shape the goods and the products the society creates

Mixed Economy-economic system combining private and public enterprise

Command Economy-is a key feature of any communist society;production that is publicly owned and economic activity is controlled by a central authority

More Important Information

Sanction-authoritive permission or approval

Diversity-variety being different or unique

Subsistence agriculture-self sufficiency farming in which the farmers focus on growing enough food to feed themselves and their families

Free Enterprise/Capitalist-private business operates in competition and largely free of state control

EU-is a politico economic union of 28 members that are located primarily in Europe

NAFTA-a regulation implemented January 1st,1994 in Mexico,Canada and the US to eliminate most tariffs on trade between these nations

Globalization-process of interaction and integration among the people,companies and governments of different nations

GDP-(gross domestic product)which represents the total dollar value or all goods and services produced over a specific time period

Stateless Nation-Is an ethnic group,Religous group,linguistic group or other cohesive group which isn't the majority population in any nation state

OPEC-is a cartel that aims to manage the supply of oil an effort to set the price of oil on the world market