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14 terms

Chpt 14 Social Studies Vocab

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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.