Chpt 14 Social Studies Vocab

14 terms by dsneyd

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communism

official idealogy of the Soviet Union, characterised there by complete government owenership of land and property, single-party control of the government, the lack of individual rights, and the call for worldwide revolution.

Red Scare

Intense fear of communism and other politically radical ideas

isolationism

policy of avoiding political or economic alliances with foreign countries.

disarmament

program in which the nations of the world voluntarily give up their weapons

quota

a numerical limit

Teapot Dome scandal

Scandal during the Harding administration involving the granting of oil drilling rights on government land in return for money

Kellogg-Briand Pact

Agreement signed in 1928 in which nations agreed not to pose the threat of war against one another

consumer economy

an economy that depends on a large amount of spending by consumers

installment plan

a payment plan that allows consumers to make payments at set intervals over a period of time until the total debt is paid

Gross National Product (GNP)

Total annual value of goods and services a country produces

assembly line

Manufacturing process in which each worker does one specialized task in the construction of the final product

welfare capitalism

an approach to labor relations in which companies meet some of their workers' needs without prompting by unions, thus preventing strikes and keeping productivity high.

speculation

The practise of making high-risk investments in hopes of getting a huge return.

buying on margin

An option that allows investors to purchase a stock for only a fraction of its price and borrow the rest.

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