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vocab

TermDefinition
fundamentalism a form of a religion, especially Islam or Protestant Christianity, that upholds belief in the strict, literal interpretation of scripture.
abdicate (of a monarch) renounce one's throne
radical (in regards to beliefs) advocating thorough or complete political or social reform
domestic of or relating to home
consumer economy an economy largely dependent on end consumers rather than intermediary businesses
installment plan an arrangement for payment by installments.
Gross National Product the total monetary value of all final goods and services produced in a country during one year
assembly line a series of workers and machines in a factory by which a succession of identical items is progressively assembled
welfare capitalism that includes comprehensive social welfare policies. Welfare capitalism is also the practice of businesses providing welfare services to their employees.
speculation (in the stock market) risking transactions on the chance of quick or considerable profit
buying on margin Allowed people to put down payments as low as 10 percent
contraction a period of decreased business activity
depression Economic crisis beginning with the stock market crash
inflation characterized by, or tending to cause monetary inflation. rising prices of goods
totalitarian a person advocating a system of government that centralized and dictatorial.
fascism A system of government characterized by strict social and economic control
purges violent removal of a group of people from an organization or place
appease the policy of acceding (giving in) to the demands of potentially hostile nation in the hope of maintaining peace
blitzkrieg military tactic designed to create disorganization among enemy forces through (lighting war)
Created by: Ashayla
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