1 min read•october 3, 2023
📖 AMSCO p.608-623
Term | Definition + Significance |
Communism | The political theory that all property is publicly owned; this belief was embodied mainly by countries on the Eastern hemisphere |
Capitalism | The political system that a country’s industry is controlled by private owners who focuses on profit; mainly embodied by countries on the Western hemisphere |
Free Market Societies | A free market where there are no government regulations nor interventions and trades are based solely on supply and demand |
Proxy War | A war caused by a superpower country, but the superpower country itself does not become involved in the war |
Self-Government | A country that was previously a colony, now becoming a government and country of its own |
1 min read•october 3, 2023
📖 AMSCO p.608-623
Term | Definition + Significance |
Communism | The political theory that all property is publicly owned; this belief was embodied mainly by countries on the Eastern hemisphere |
Capitalism | The political system that a country’s industry is controlled by private owners who focuses on profit; mainly embodied by countries on the Western hemisphere |
Free Market Societies | A free market where there are no government regulations nor interventions and trades are based solely on supply and demand |
Proxy War | A war caused by a superpower country, but the superpower country itself does not become involved in the war |
Self-Government | A country that was previously a colony, now becoming a government and country of its own |
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