Vocab Quiz 1 Flashcards
Globalization
The process by which the regions, people, and economies of the world are becoming increasingly interconnected; the procedure of increasing the interdependence of the world economies
Westernization
The spread of ideas and values originating in Europe and the western world
Divine right
The notion that rulers power is detained from God and cannot be questioned
Bureaucracy
A complex system of non-elected officials and workers who manage the activities of a government
Commercial revolution
The rapid expansion of trade and commerce that transformed Europe starting in the 16th century
Economic
Related to money, trade, wealth, wages
Capitalism
The economic system in which all resources are privately owned and free markets determine how those recourses are distrusted; the government has minimal control over the economy