Global 10 - Unit 3B Vocab

Front

an economic system in which land, factories, and other resources are owned by individuals instead of the government. In this system, the prices of things we buy are decided by the people who sell them and not by the government

Back

capitalism

Front

a group of people who have a similar economic or social position in society

Back

class

Front

a system of government derived from the writings of Karl Marx and Friedrich Engels in which all factories, farms, and other valuable things are owned and controlled by the government

Back

communism

Front

the act of striving to gain or win something by defeating or establishing superiority over others

Back

competition

Front

a set of beliefs and practices related to the use of a country or region's wealth and resources

Back

economic system

Front

good or service that is sent out of a country

Back

export

Front

a great lack of food over a wide area

Back

famine

Front

a collection of ideas or beliefs shared by a group of people

Back

ideology

Front

a policy of remaining apart from the affairs or interests of other groups, especially the political affairs of other countries

Back

isolationism

Front

to bring up to date, newer (often better)

Back

modernize