Middle East
Geo-Political designation of the area stretching from the eastern Mediterranean Sea to the western side of the Indian subcontinent. Consists of countries such as Israel, Iran, Iraq, Saudi Arabia, and Egypt.
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Economics System
middle class
Social and economic class usually composed of merchants, artisans, and business people. In some societies, the richest class, but without a title of nobility. The middle class is usually the backbone of society as they are generally more moderate in their economic, social, and political habits.
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Middle Ages
Time period in European history between the fall of Rome in 476 C.E. and the beginning of the Italian Renaissance in the early 15th century.
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Mesoamerican
A region of Central America, Mexico, and South America where several pre-Columbian civilizations lived including the Maya, Inca, and Aztecs.
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merchant
A person who sells goods or services. A member of the middle class in most societies.
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mercantilism
The policy of building a nation's wealth by exporting more goods than it imports. Colonies are instrumental in this policy as they supply their parent nations with raw materials that are used to produce finished goods, and then exported back to the colonies. Colonies not only served as a source for the raw materials, but also as an exclusive market for the parent country.
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Mayans
A Mesoamerican civilization of Central America and southern Mexico. Achievements include mathematics, architecture, and a 365 day a year calendar. They flourished between the 4th and 12th centuries C.E..
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mass production
The manufacturing of products on a large scale, usually through the use of machines.
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Marshall Plan
Economic aid from the United States used to rebuild Europe after World War II. Named after United States Secretary of State George Marshall.
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market economy
An economy based on free trade and supply and demand.
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