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Global Studies Vocab - Economic Systems - Set 5

AB
Marshall PlanEconomic aid from the United States used to rebuild Europe after World War II. Named after United States Secretary of State George Marshall.
mass productionThe manufacturing of products on a large scale, usually through the use of machines.
MayansA Mesoamerican civilization of Central America and southern Mexico. Achievements include mathematics, architecture, and a 365 day a year calendar. They flourished between the 4th and 12th centuries C.E..
mercantilismThe policy of building a nation's wealth by exporting more goods than it imports. Colonies are instrumental in this policy as they supply their parent nations with raw materials that are used to produce finished goods, and then exported back to the colonies. Colonies not only served as a source for the raw materials, but also as an exclusive market for the parent country.
merchantA person who sells goods or services. A member of the middle class in most societies.
MesoamericanA region of Central America, Mexico, and South America where several pre-Columbian civilizations lived including the Maya, Inca, and Aztecs.
Middle AgesTime period in European history between the fall of Rome in 476 C.E. and the beginning of the Italian Renaissance in the early 15th century.
middle classSocial and economic class usually composed of merchants, artisans, and business people. In some societies, the richest class, but without a title of nobility. The middle class is usually the backbone of society as they are generally more moderate in their economic, social, and political habits
Middle EastGeo-Political designation of the area stretching from the eastern Mediterranean Sea to the western side of the Indian subcontinent. Consists of countries such as Israel, Iran, Iraq, Saudi Arabia, and Egypt.
migrationThe mass movement of people from one area to another.
militaryThe armed forces of a nation.
mixed economyAn economic system which is a combination of Market and Command economic systems where market forces control most consumer goods, but government directs industry in need areas.
Neolithic Age(10,000 BCE - 5000 BCE) New Stone Age. A period of time in human history characterized by the development of agriculture and permanent settlements.
Neolithic Revolution(10,000 - 8,000 BCE) The development of agriculture and the domestication of animals as a food source. This led to the development of permanent settlements and the start of civilization.
New Economic PolicyAn economic policy of Vladimir Lenin’s in the Soviet Union where government controlled most banks and industry, but did allow some private ownership.
New ImperialismA policy of economic, political, and social of one country by another. Industrialized countries sought control of other countries for raw materials and new markets.
nomadA person who belongs to a group of people who move from place to place seasonally in search of food and water.
Old ImperialismA European policy of conquest that occurs in the 15th through 18th centuries in Africa, India, the Americas, and parts of Asia The motives were the same for most areas, the establishment of lucrative trade routes. Various European countries dominated these trades routes and one time or another, and a some countries, such as Great Britain and Spain, came to dominate entire countries.
Ottoman EmpireHereditary nation state centered in Turkey. It was founded in the late 13th century after the collapse of the Byzantine Empire and extended across most of Asia Minor and the Middle East. The Ottoman Empire collapsed shortly after World War II.
Paleolithic Age(750,000 BCE - 10,000 B.C.E.) Old Stone Age. A period of time in human history characterized by the use of stone tools and the use of hunting and gathering as a food source.


Mrs. Austro

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