Us History Flashcards
What is the definition of monopoly?
Complete control of a product or economic activity by single producer or business.
What is the definition of duty(duties)?
A customs tax on export or import of goods.
What is the definition of mulatto?
A person of mixed African and European ancestry.
What is the definition of inflation?
Increase in supply of currency relative to goods available, leading to decline in purchasing power of money and rise in prices.
What is the definition of boycotts?
Organized refusal to deal with person or organization or buy a certain product or service.
What is the definition of propaganda?
Systematic program designed to promote certain ideas with use of deceptive means.
What is the definition of mercantilism?
Economic theory that closely linked a nations political and military power to its bullion reserve.
What is the definition of veto?
The constitutional right of a ruler or executive to block legislation passed by another group of government.
What is the definition of patronage?
System in which benefits are granted in exchange for political support.
