System of social organization (government) in which the most important industries are controlled by the government that often plans and controls the economy.

An index based on the amount of goods, services, education, and leisure time that a people have

Exclusive control or ownership of an industry by a single business with the purpose of reducing competition

Sharp rise in prices and decrease in the value of money

A declaration that is made emphatically

Nation with enough military and economic strength to influence events in many areas around the world

Characteristic of an absolute ruler or absolute rule

Entire way of life developed by a people

Agreement between nations to aid and protect one another

Anything of material value owned by a person or company

A tax paid directly by the person or organization on whom it is levied

A person responsible for the administration of a business

A person who is reluctant to accept change and new ideas