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Vocab Words
4th nine weeks week 1
| Term | Definition |
|---|---|
| budget | a plan for spending and saving one’s income |
| expenses | financial obligations, such as bills |
| lender | an individual, bank, or company who loans money |
| liquid | money which one has on-hand that can be freely spent |
| loan | a sum of money given for designated period of time which must be repaid |
| rations | a fixed amount of a product or service allowed during times of shortage |
| production quota | the required amount of a specific good that must be produced in a given timeframe |
| subsistence | producing only what is necessary for personal use/survival |
| credit | a loan of money |
| interest | percentage of a borrowed sum of money which must be paid in addition to the repayment of the loan itself |
| subsidization | money granted by the government to assist a business or industry in lowering the cost of its product/service |
| outsourcing | the transfer of work/production from one country to another where the cost of labor/manufacturing is cheaper |
| dissident | a person who opposes the authority of an established government |
| graft | financial gain through illegal means, typically through kickbacks and bribes |
| privatize | to transfer a business, industry, or service for public (government) to private control |
| Korean Peninsula | This juts out of northeastern China in between the Yellow Sea and the Sea of Japan • Has been divided into two countries since 1948 |
| communism | Is a type of government as well as an economic system, which individual people do not own land, factories, or machinery. Instead the government owns these things. |
| democracy | Government where supreme power is in the hands of its citizens; vote in free elections |
| presidential democracy | Congress, President , Executive branch separate from the legislature branch are all key terms of this type of democracy |
| autocracy | Dictatorship, king and queens, and citizens have no role in government |
| containment | (military) the act of containing something or someone; keeping it from spreading; |
| alliance | a union between people, groups, countries, etc. : a relationship in which people agree to work together. : the state of being joined in some activity or effort : the state of being allied. |
| reparations | Compensation or remuneration, as for damage or economic loss, required from a nation defeated in war; to pay |
| sovereign | 1 : supreme power especially over a political unit (as a country) 2 : a country's independent authority and right of self-control. |
| imperialism | is a policy (way of governing) in which large or powerful countries seek to extend their authority beyond their own borders. The policy of imperialism aims at the creation of an empire. Imperialist countries take control of other countries. |
Created by:
stellaweaver
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