TERM 1
agrarian society
DEFINITION 1
a society in which agriculture is the dominant form of work
and people and animals are the main source of energy
TERM 2
industrialization
DEFINITION 2
economic development through a transformation of the
sources and quantities of energy employed
TERM 3
capitalism
DEFINITION 3
an economic system in which there is private, rather than
state, ownership of wealth and control of he production and
distribution of goods
TERM 4
globalization of the economy
DEFINITION 4
the world wide integration of various systems: government,
culture, finance market. It happens with trade & exchange of
ideas
TERM 5
labor force
DEFINITION 5
all civilians who are employed or unemployed but able a
desiring to work
