A
refers to machines being used to assist or replace humans in creating products
mechanization
In order to allow businesses to operate freely, government intervention should be ______________.
reduced
This is the idea that, if either the US or Russia uses nuclear weapons, the other will do the same.
Mutually Assured Destruction
When agreeing to borrow money, you are charged a fee that must be paid along with how much you borrowed.
Interest
A minimum amount of money employers are required by law to pay employees.
Minimum Wage
a Free-Market economy, such as the US's, who determines what products to make and how much to sell them for?
Business owners
In order to provide an advantage for DOMESTIC companies, governments impose ____________ on FOREIGN companies.
Tariffs
Which of the following was a defensive military treaty signed between the Soviet Union and other countries?
Warsaw Pact
Which of the following was a defensive military treaty signed between the United States and other countries?
NATO
Which of the following required countries receiving aid from the US to accept democracy as their form of government and allow the US to install a permanent military base?
Marshall Plan
After WWII, what was the purpose of creating the League of Nations and the United Nations?
Prevent War
To make sure that goods are priced low, and have high quality, _______________ between companies must be allowed to occur.
Competition
Adolph Hitler believed inferior groups of people needed to be removed while the German people needed to expand their borders and population.
Nazism
This is a form of authoritarian idealism characterized by dictatorial power, forcible suppression of opposition, and strong regimentation of society and the economy. Hitler, Stalin, and Mussolini embodied this idea.
Fascism
This is a governmental concept that prohibits all opposition parties, outlaws individual opposition to the State and its claims, and exercises total control over public and private life.
Totalitarianism
The time period in which the world experienced a transition from individual human labor to mechanization is known as?
1st Industrial Revolution
To make a profit AND to help society are two motivations that business owners have in a Capitalist Free Market.
What is the name of this concept?
Invisible Hand
The time period which saw improvements such as the Factory System and Division of Labor is known as?
2nd Industrial Revolution
This was a program under which the United States supplied the Allied nations during World War II with food, oil, and materiel. In return, the U.S. was given leases on army and naval bases in Allied territory during the war.
Lend Lease policy
This was an American policy that held that countries could purchase goods from the United States as long as they paid in cash and assumed all risk in transportation using their own ships.
cash and carry program
factory system and the Division of Labor had 2 benefits.
One was "increasing the number of people who could get a job that did not have education or skills."
what is the other?
The separation of a work process into a number of tasks, with each task performed by a separate person.
What 2 forms of improved transportation allowed businesses to transport products faster and to more customers
steam engines and railroads
This was a period of tension between the United States and the Soviet Union following World War II.
Cold War
Which of the following is an American foreign policy developed that pledges to prevent the spread of communism?
Truman Doctrine
Which of the following is the type of war in which the US and Russia provided aid to others who were fighting?
Proxy War