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capitalism an economic system in which land, factories, and other resources are owned by individuals instead of the government. In this system, the prices of things we buy are decided by the people who sell them and not by the government.
depression an economic state in which business is very bad and many people are out of work and poor. [2/4 definitions]
EU abbreviation of "European Union," an economic and political union of a large number of democratic countries in Europe. Formed in 1993, this union makes trading between the different countries easier and allows freer movement of people from country to country than existed before. The union currently consists of the countries of Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. The United Kingdom had been a member of the European Union but left in 2020.
European Union an economic and political union of a large number of democratic countries in Europe. Formed in 1993, this union makes trading between the different countries easier and allows freer movement of people from country to country than existed before. The union currently consists of the countries of Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. The United Kingdom had been a member of the European Union but left in 2020.
feudalism a political and economic system in Europe and Japan during the Middle Ages. Royal or noble families owned the land and allowed people to live on and farm the land in return for a share of the crops and their service in war.