Global II Quiz 3

  1. hydroelectric
    relating to the production of electricity through the use of water power
  2. inflation
    the great increase in the amount of paper money in relation to the amount of available goods for sale; results in higher prices
  3. mercantilism
    economic theory that judged a nation's strength on its importation of gold and silver and the establishment of colonies for raw materials and markets for goods
  4. nationalization
    the government take-over of industry and property
  5. natural resources
    a source of wealth provided by nature, such as forests, minerals, water
  6. privatization
    the return of governmentally-controlled business to private ownership
  7. per-capita
    for each person
  8. petrodollars
    money paid to oil-producing countries
  9. self-sufficiency
    the ability to support oneself without aid or cooperation from others
  10. subsidy
    a grant, gift, or money to assist an enterprise, business, or individual
  11. tariffs
    a tax on goods brought into a country from another country
  12. underdeveloped
    an area with little industry that is in an early stage of economic development
Card Set
Global II Quiz 3
Global II Quiz #3