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27 Cards in this Set

  • Front
  • Back


Centralized government that doesn't allow different opinions.

Adolf Hitler with Nazism.


Armed conflict or fight between nations or fractions.

World War II

Allies vs Axis Powers. (1933-1945)


Mass killing and persecution of Jews during Nazism (1933-1945)

Auschwitz concentration camp 1944


Murdering of national, rational, political or cultural group.

Caste War of Yucatan


Overthrow and replacement of a government by force.

French Revolution


A country ruled by a person who has absolute power.

Kim Jong-il from North Korea


Political movement based on Marxisim, seeks to overthrow capitalism.

Joseph Stalin

Cold War

Rivalry between U.S and the Soviet Union.

Vietnam War


Human beings thought of as a group and viewed as members of a community.

Any kind of society

Civil Society

The elements such as freedom of speech, an independent judiciary, etc, that make up a democratic society.


Schedule of quantities offered for sale at all posible prices in amarket.


Combination of desire, ability, and willingness to buy a product.

Break even point

Production needed if the firm is to recover its costs; production level where total cost equals total revenue.

Factors of production

Productive resources that make up the four categories of land,capital, labor, and entrepreneurship.

Economic Cycle

The natural fluctuation of the economy between periods ofexpansion (growth) and contraction (recession).

Welfare State

The natural fluctuation of the economy between periods ofexpansion (growth) and contraction (recession).


An approach to economics and social studies in which control ofeconomic factors is shifted from the public sector to the private sector.


The tendency of investment funds and businessesbeyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets.


Institutional arrangements designed to facilitate the free flow ofgoods and services and to coordinate foreign economic policies between countries in the same geographic region.

Trade Embargo

Prohibition on the export or import of a product.

Economic Integration

The aimeconomic integration is to reduce costs for both consumers and producers, as well as to increase trade between the countries.

Free Trade Agreement

Treaty (such as FTAA or NAFTA) between two or more countries to establish a free trade area where commerce in goods and services can be conducted across their common borders.


Limit on the amount of a good that can be allowed into a country.


Tax placed on an imported product.

Inflation Rate

Is the rate at which the general level of prices forservices is rising and, consequently, the purchasing power of currency is falling.

GDP (Gross Domestic Product)

It is the monetary value of all the finished goods and servicesproduced within a country's borders in a specific time period.


Excess of supply over demand of products being offered to themarket.