Ch 2-3 Vocab

3. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
5. comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
7. central planning authority in the former Soviet Union that devised and directed Five-Year Plans
10. independent Polish labor union founded in 1980 by Lech Walesa
12. gross domestic product on a per person basis; can be expressed in current or constant dollars
13. shift of an economy, or part of an economy, from private ownership to government ownership
14. forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing

1. certificates that could be used to purchase government-owned property during privatization
2. that could be used to purchase government-owned property during privatization conversion of state-owned factories and other property to private ownership
4. 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 outputmarket
6. market in which goods and services are sold illegally
8. number of people per square mile of land area
9. China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
11. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
15. requiring large amounts of capital in relation to labor.