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Global Studies Vocab - Economic Systems - Set 1

AB
Abbassid Dynasty(750 - 1258) Ruling family of the Islamic Empire during its golden age. This dynasty is responsible for many achievements
Age of ExplorationTime period during the 15th and 16th centuries when Europeans searched for new sources of wealth and for easier trade routes to China and India. Resulted in the discovery of North and South America by the Europeans.
agricultureThe cultivating of land, producing of crops, and raising of livestock for human consumption.
Allied PowersAlliance of Great Britain, Soviet Union, United States, and France during World War II.
American RevolutionPolitical revolution in the British North American Colonies starting in 1776 that removed the colonies from Great Britain’s control, and established an independent nation know as the United States of America.
arableLand that is able to support the growing of crops.
AztecsA Mesoamerican civilization of Mexico who created a strong empire that flourished between the 14th and 15th century. The arrival of Hernando Cortez and the Spanish Conquistadores ended their empire.
balance of powerA political policy in which countries attempt to preserve peace by keeping an equal military and economic status.
bankA business that exchanges currencies, makes loans, and keeps the money of individual depositors.
barterThe exchange of goods or services for other goods or services.
BCEDate designation meaning Before Common Era, or more than two thousand years ago.
bill of exchangeA document purchased from a bank that allowed a person to travel without having to carry large amounts of money. Worked like a modern check.
capitalMoney that is used for investment.
capitalismAn economic system based on the private ownership of the means of production and distribution of goods. Also promotes a free market regulated by supply and demand.
Cash Crop EconomyAn economic system based on the exportation of certain crops such as sugar, cotton, and coffee.
CavalryMounted warriors.
centralized governmentA government which controls all aspects of society from a central location or through a central system.
chinampasfloating islands of land anchored to a lake bottom used for agriculture. This technique was used by the Aztecs.
civilizationA society that has a high level of culture and social organization including organized government, job specialization, and a organized belief system.
Cold WarNon shooting conflict between the Soviet Union and their allies and the United States and their allies. Numerous secondary conflicts arise due to the Cold War.


Mrs. Austro

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