Vocabulary(People’s Republic of China)
Unit 7: East Asia
An economic system in which the central government controls industry such that it makes major decisions regarding the production and distribution of goods and services.
Command Economy:
Something new or different introduced.
Innovation:
The total knowledge and skills available to any human society for industry, art, science, etc.
Technology:
Is a national economic policy that says that a nation benefits by accumulating monetary reserves through a positive balance of trade, especially of finished goods.
Mercantilism:
Is loyalty to the interests of one's own region or section of the country, rather than to the country as a whole.
Sectionalism:
Occurs whenever any one or more species populate an area.
Colonization:
