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Global Studies Vocab - Economic Systems - Set 2

AB
collective farmA government owned farms where peasants work on a quota system.
colonizationA group of people moving from their homeland to a new area in large numbers.
Columbian ExchangeThe exchange of goods and other things, such as disease from the Old World (Europe) to the new World (North and South America) and back.
Command EconomyAn economic system controlled by strong, centralized government, which usually focuses on industrial goods. With little attention paid to agriculture and consumer goods.
Commercial RevolutionA dramatic change in the economy of Europe at the end of the Middle Ages. It is characterized by an increase in towns and trade, the use of banks and credit, and the establishment of guilds to regulate quality and price.
communeA government owned farms where peasants work on a quota system.
communismA system of government in which a single, totalitarian, party holds power. It is characterized by state control of the economy, and restriction on personal freedoms. It was first proposed by Karl Marx and Friedrich Engels in The Communist Manifesto.
constitutionA document detailing the fundamental laws of a country or organization.
corporationA company with business dealings in many different areas.
craftsmanA person who makes quality, practical or decorative goods.
CrusadesEuropean Christian military expeditions made between the 11th and 13th centuries to retake the Middle Eastern Holy Lands occupied by the Muslims.
cultural diffusionThe spreading of ideas through contact such as trade or war.
CzarTitle of the ruler of Russia. Taken from the word Caesar, which means emperor.
Czar Nicholas II(1868-1918) Czar of Russia (1894-1917). He was overthrown during the Russian Revolution of 1917. Later, he and his family were killed by the revolution’s leadership.
democracyA system of government in which the citizens hold the legislative, judicial, and executive power, based on majority rule.
Deng Xiaoping(1904-1997) Chinese Communist leader. Ruled from 1978 until 1997.
developing nationsNations that are economically and technologically less developed than industrialized nations.
domesticateTo tame an animal to live with, or close to humans.
empire1. A collection of nations or peoples ruled by a single authority, usually a monarch, but can be other systems of government as well. 2. A very large and powerful industrial organization
EnlightenmentA movement in the 18th century that stressed the importance of reason and science in philosophy and the study of human society. Occurred in Western Europe.


Mrs. Austro

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