5.7 Vocab Economic developments an Innovations

Control of a specific business and elimination of all competition.

• Monopoly

• Oligopoly

• Mercantilism

• Capitalism

The development of industries in a country or region on a wide scale.

• Modernization

• Monopoly

• Industrialization

• Capitalism

A policy of minimal governmental interference in economic affairs.

• Laissez-faire

• Monopoly

• Capitalism

• Autocratic

Sums of money paid to stockholders from a corporation's profits.

• Dividends

• 
  Stockholders

• Interest

• Cash Values

The study of the fundamental nature of knowledge, reality, and existence.

• Consumerism

• Ideologies

• Values

• Philosophies

An economic system based on private ownership and the investment of resources for profit.

• Consumerism

• Monopoly

• Capitalism

• Mercantilism

A book by Adam Smith, advocating for capitalism and private entrepreneurship.

• The China Syndrome

• The Logistician's Guide

• Paradox of Value

• Wealth of Nations

An economic policy aimed at accumulating monetary reserves through a positive balance of trade.

• Mercantilism

• Monopoly

• Capitalism

• Comparative Advantage

Individuals who own partial ownership in a corporation.

• Policyholders

• 
  Dividends

• Customers

• Stockholders

The process of adapting something to modern needs or habits.

• Modernization

• Industrialization

• Consumerism

• Diversification