modern russia (2/2)

capitalism

an economic and political system in which a country's trade and industry are controlled by private owners for profit.

command economy

an economy in which production, investment, prices, and incomes are determined centrally by a government.

mixed economy

an economic system combining private and public enterprise

communism

political and economic theory that aims to create a classless society where the public or state owns and controls the major means of production

socialism

political and economic theory that advocates for collective or governmental ownership and administration of the means of production and distribution of goods. It is not a single, rigid system but encompasses a variety of movements and ideologies that share a core focus on social ownership of economic resources

free market economy

prices are set by supply and demand with minimal government intervention. Individuals and private businesses make their own economic decisions, leading to competition

UN

an international organization founded in 1945 to maintain peace and security, promote human rights, and foster sustainable development

NATO

political and military alliance of 32 member countries from Europe and North America. Its core purpose is to provide collective defense and security, meaning an attack on one member is considered an attack on all

EU

economic and political union of 27 member countries located primarily in Europe. It has a single market that allows for the free movement of goods, capital, services, and people among its member states. The organization was created to foster economic cooperation and maintain peace between European nations through shared policies

detente

the easing of hostility or strained relations, especially between countries.

dissident

in opposition to official policy

separatists

a person who supports the separation of a particular group of people from a larger body on the basis of ethnicity, religion, or gender.

secede

withdraw formally from membership of a federal union, an alliance, or a political or religious organization.

annex

append or add as an extra or subordinate part, especially to a document.

petrostate

a country whose economy is heavily dependent on the extraction and export of oil and/or natural gas

privatization

the transfer of a business, industry, or service from public to private ownership and control.

Euromaidan Revolution

a wave of demonstrations and civil unrest in Ukraine, which began on 21 November 2013 with large protests in Independence Square in Kyiv