Vocab quizzz

3. Leap Forward:China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
4. Union (EU):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. common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
9. of an economy, or part of an economy, from private ownership to government ownership
11. policy of avoiding international alliances and economic interactions
13. that could be used to purchase government-owned property during privatization
15. planning authority in the former Soviet Union that devised and directed Five-Year Plans
16. large amounts of capital in relation to labor.

1. restructuring of the Soviet economy; policy introduced by Gorbachev
2. market:market in which goods and services are sold illegally
5. or the conversion of state-owned factories and other property to private ownership
6. density:number of people per square mile of land area
8. entering into an activity
10. Polish labor union founded in 1980 by Lech Walesa
12. Plan—a comprehensive, centralized economic plan designed to achieve rapid industrialization
14. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
17. per capita:gross domestic product on a per person basis; can be expressed in current or constant dollars