Chapter 2-3 Vocab

2. ,forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
5. ,market in which goods and services are sold illegally
10. ,China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
12. ,number of people per square mile of land area
14. ,comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
15. ,independent Polish labor union founded in 1980 by Lech Walesa
16. ,fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
17. ,entering into an activity

1. ,shift of an economy, or part of an economy, from private ownership to government ownership
3. ,central planning authority in the former Soviet Union that devised and directed Five-Year Plans
4. ,gross domestic product on a per person basis; can be expressed in current or constant dollars
6. ,established in 1993 by the Maastricht Treaty, its 28 member countries make it the largest single unified market in the world in terms of population and output
7. , national policy of avoiding international alliances and economic interactions
8. ,conversion of state-owned factories and other property to private ownership
9. ,requiring large amounts of capital in relation to labor.
11. ,certificates that could be used to purchase government-owned property during privatization
13. ,independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition