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Economics System

terrace farming

The cutting out of flat areas (terraces) into near vertical slopes to allow farming. Terrace farms appears as steps cut into a mountainside. This adaptation allowed both the early Chinese, and the Inca of Mesoamerica to grow enough food for their large populations.

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Stock Market Crash

(1929)The steep fall in the prices of stocks due to widespread financial panic. It was caused by stock brokers who called in the loans they had made to stock investors. This caused stock prices to fall, and many people lost their entire life savings as many financial institutions went bankrupt.

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Stalin, Josef

(1879-1953) The General Secretary of the Soviet Communist Party from 1922 until 1953. Known for his brutality in dealing with opponents and his failed policies of collectivism that caused widespread famine across the Soviet Union.

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Soviet Union (U.S.S.R.)

Union of Soviet Socialist Republics (USSR) Formed in 1922 from most of the former Russian Empire. The Soviet Union was controlled by the Communist Party headquarter in Moscow, Russia. The Soviet Union was a world superpower along with the United States, and was one of the two major antagonist during the Cold War.

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