World War II
(1939 ﾖ 1945) A war fought in Europe, Africa and Asia between the Allied Powers of Great Britain, France, the Soviet Union, and the United States against the Axis Powers of Germany, Italy, and Japan.
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Economics System
World War I
(1914 ﾖ 1918) European war in which an alliance including Great Britain, France, Russia, Italy, and the United States defeated the alliance of Germany, Austria-Hungary, Turkey, and Bulgaria.
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working class
Lowest class in most social class systems, including factory workers, miners, and others.
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Wealth of Nations
British philosopher and writer Adam Smithﾑs 1776 book that described his theory on free trade, otherwise known as laissez-faire economics.
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urbanization
The movement of people to urban areas in search of work.
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Triangle Trade
A catch all phrase for the trade occurring between Europe, Africa, and the Americas. Trade goods include raw materials from the Americas, manufactured goods from Europe, and slaves from Africa.
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traditional economy
An economy based on agriculture, with others in society working in simple crafts, such as the manufacturing of cloth or pottery.
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tradition
A long-established custom or belief.
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trade fair
A gathering of merchants, craftsmen, and artisans to buy and sell goods and service during late Middle Ages.
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trade
The exchange of goods or service between people.
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