Chapter 28 Vocabulary

Chapter 28 Vocabulary

Command System: is an economic system controlled by the government.

Commune: a collective farming community whose members who shares work and products.

Cooperative: a voluntary organization whose members work together and shares expenses and profits.

Asia-Pacific Economic Cooperation Group (APEC): a trade group, whose members are Japan, China, South Korea, and Taiwan, which ensures that trade among the member countries, is efficient and fair.

Trade Surplus: earning more money on exports than spending on imports.

Trade Deficit: spending more money on imports than earning on exports.

Dissident: a citizen who speaks out against government policies.

Economic Sanctions: trade restrictions.

World Trade Organization (WTO): an international body that oversees trade agreements and settles trade disputes among countries.

Merchant Marine: a country’s fleet of ships that engage in commerce or trade.

Desertification: process in which arable land is turn into desert.

Chlorofluorocarbons: chemical substance, found mainly in liquid coolants, that damages the earth’s protective ozone layer.

Aquaculture: underground water-bearing layers of phosphorus rock, sand, or gravel.