vocab

2. central planning authority in the former Soviet Union that devised and directed Five-Year Plans
7. China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
10. national policy of avoiding international alliances and economic interactions
11. forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
15. comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
17. requiring large amounts of capital in relation to labor.

1. market in which goods and services are sold illegally
3. conversion of state-owned factories and other property to private ownership
4. independent Polish labor union founded in 1980 by Lech Walesa
5. 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
6. shift of an economy, or part of an economy, from private ownership to government ownership
8. gross domestic product on a per person basis; can be expressed in current or constant dollars
9. certificates that could be used to purchase government-owned property during privatization
12. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
13. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
14. entering into an activity
16. number of people per square mile of land area