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34 Cards in this Set
- Front
- Back
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Means of production |
Communism and socialism is govt over seen and in capitalism its privately over seen |
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Marx |
"Father" of communism |
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Glasnot |
When the Russian govt had to tell their people they were poor |
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Cold War |
A time of war where there was no fighting between America and the soviet; caused for a capitalistic and communism divide in the soviet country |
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Reagan |
Pushed countries to convert |
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NEP |
New Economic Plan |
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Mao Tse Tung |
Chinese communist leader |
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Hong Kong |
Successful communist market that influenced all of China |
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Kaizam |
Nothing is ever perfect |
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Capitalism |
Production. Is privately owned |
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Socialism |
Govt owns and runs some of the Productive resources |
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Communism |
Political and economic framework where all property is collectively owned, labor is organized for the common advantage of the community, and everyone consumes according to needs |
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Lenin |
Took land from rich and divide evenly; Russia became the Soviet Union |
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Stalin |
Turned Econ from agricultural to industrial |
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Five year plan |
Comprehensive, centralized Econ plan designed to achieve rapid industrialization |
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Collectivization |
Forced common ownership of all agricultural industrial and trading enterprises |
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Gosplan |
Central planning authors that devised the five year plans |
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State farms |
Large farms entirely owned and operate by the state |
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Collective farms |
Small private farms collected Ito large u its for joint operations |
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Piecework |
Workers are paid for each piece of output they produce rather than for the hours they work |
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Storming |
Practice of rushing production at the end of the month to make up for the slower pace at the beginning of the month |
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Gorbachev |
Last Soviet Union leader |
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Perestroika |
Fundamental restructuring of the Econ and govt (it failed) |
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PrivatiAtion |
Conversion of state owned favorites and property to private ownership |
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Solidarity |
Independent and sometimes illegal Union |
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Black market |
Entrepreneurs and merchants sell goods illegally |
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Great Leap Forward |
Basically a second 5 yr plan |
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Capital intensive |
Technique that uses large amounts of capital for everyone person employed |
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Keiretsu |
Tightly knit group of firms governed by an external board of directors from potential competitors |
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Infrastructure |
County works |
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Collateral |
Prop or other security used to guarantee repayment of a loan |
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Transparency |
Need to make business dealings mor eco single to everyone |
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Asian tiger a |
Hong Kong Singapore Taiwan South Lorea |
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Welfare state |
Wages were high, jobs could be found, and unemployment was low |
