1950's Flashcard 1

Front

In which economic system are INDIVIDUALS in charge of owning land, resources, and factories?

Back

Capitalism

Front

This economic system is based on competition, profits, and self-interest.

Back

Capitalism

Front

What does communism believe in?

Back

Economic equality through elimination of private property.

Front

In a communist society...

Back

there is no wealth or private property

Front

Why was NATO created?

Back

To create a unified military defense with the US and western European countries to protect themselves from another world war and the nuclear threat.

Front

NATO stands for

Back

North Atlantic Treaty Organization

Front

Phrase coined by Churchill that explained that Europe had been divided into western Europe and communist eastern Europe

Back

Iron Curtain

Front

The dividing line between Eastern and Western Europe during the Cold War was called _________________

Back

The Iron Curtain

Front

What was the name for the 1955 alliance of Soviet-dominated countries of Eastern Europe that were the counterpart to the western alliance?

Back

Warsaw Pact

Front

A defensive alliance aimed at preventing communist aggression in Asia

Back

SEATO