Types of economy's
Monarchy- oldest form of government, ran by kings and queens.
Traditional economy- money has no official value, example: you eat what you grow.
Mixed economy- government involvement for mandatory laws and regulations.
Subsistence agriculture- eat what you grow, make everything you need.
Free enterprise/ capitalist- an economy that invests in production, distribution, and exchanges of wealth.
Organizations that function to keep peace
EU/ European Union- brings countries together with similar problems but still allows them to be separate countries.
UN/ United Nations- peace keeping organization made to replace League of Nations
NATO- military alliance between democratics in Europe and North America.
Sanction- punishments for countries that disobeys laws.
Truman doctrine- military and economic help to stop communism.
Marshall plan- offered $13 billion dollars to help reconstruct east Europe and not join communism.
NAFTA- has created cooperation on trade and economic issues.
Globalization- increase flow of trade, people, technology, culture, and ideas among countries.
GDP- is a total value of all goods and services produced within a country in a given period of time.
Cold War- a war of ideas, not an actual war.
Outsourcing- when jobs are sent to another place for cheaper work.
Diversity- Being different