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.