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Economics

all the economic vocab (part 2)

QuestionAnswer
monopoly the complete ownership or control
multinational corporation a compony that has some portion of its business in two or more different regions
offshoring the policy of moving some jobs or functions of a company overseas to places where labor is less expensive
scientific revolution a significant change in scientific thought that occurred in the 16th and 17th centuries.
globalization the state of a worldwide economy that includes free trade and inexpensive labor
mercantilism an economic policy intended to reduce a nation's need for imports by using colonies as a source of raw materials
Mesoamerica a region stretching from present-day central Mexico to northern Costa Rica
microclimate a small area with unique climate because of its geography
cottage industry manufacturing carried out of the home
economic imperialism a situation in which developing nations are economically dependent on developed ones and thus must bend to their will in order to function.
feudal describing a system in which nobility gives land to vassals in exchange for military services.
silk road a series of trade routes connecting Europe and Asia
triangular trading a network of trade routes that sent captured enslaved Africans to the Americas raw materials to Europe, and finished goods back to the Americas.
Created by: user-1889012
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