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Chapter 4 Key Terms
Chapter 4 Key Terms Socialss 11
30
History
11th Grade
12/14/2010

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Term
Recession
Definition
Less severe than a depression, a recession is a downturn in economic activity in which the value of goods and services declines
Term
Depression
Definition
A long period of severe economic and social hardship, massive unemployment, and suffering
Term
Market Economy
Definition
An economic system in which individuals produce goods and prices are determined by supply and demand
Term
Mixed Economy
Definition
An economic system in which both individuals and the government produce and sell goods
Term
Supply and Demand
Definition
The quantity of a product that is available and the market's desire for that product; the price of the product varies based on supply and demand
Term
Prosperity
Definition
In the economic cycle, the period of economic growth and expansion
Term
Recovery
Definition
In the economic cycle, the period following a recession during which the value of goods and services rises
Term
Overproduction
Definition
More goods being produced than being sold; which leads to increased unemployment
Term
Tarrifs
Definition
Tazes on imported goods
Term
Protectionism
Definition
A system of using tarrifs to raise the price of imported goods in order to protect domestic producers
Term
Reparations
Definition
Compensation from a defeated enemy for damages caused by war
Term
Speculation
Definition
Buying shares "on margin" with the expectation that the value of the shares will increase enough to pay back the loan and make a profit
Term
Black Tuesday
Definition
October 9, 1929, when the New York Stock Exchange collapsed
Term
Pogey
Definition
Relief payments by a government, sometimes in the form of vouchers for food and other essentials
Term
Transient
Definition
An unemployed person who moves from place to plave in search of work
Term
Deport
Definition
To send back to one's country of origin
Term
Anti-Semitism
Definition
Discrimination or hostility toward Jewish people
Term
Deflation
Definition
The opposite of inflation, deflation occurs when the price of goods and services falls
Term
Majority Government
Definition
A government in which the ruling party has more seats in the House of Commons than all other parties combined
Term
On-to-Ottawa Treck
Definition
A 1935 rail trip from Vancouver to Ottawa (stopped at Regina) by unemployed men to protest conditions at employment relief camps
Term
Regina Riot
Definition
A riot that occurred when police attempted to clear On-to Ottawa trekkers from a stadium in Regina
Term
Laissez-Faire
Definition
An economic condition in which industry is free of government intervention
Term
Welfare State
Definition
A state in which the government actively looks after the well-being of its citizens
Term
Co-Operative Commonwealth Federation (CFF)
Definition
Canada's first socialist party founded in the Prairies in 1932; advocated government control of the economy
Term
Capitalism
Definition
And economic system in whhich the production and distribution of goods are owned and privately or by shareholders in corporations who have invested their money in the hope of making a profit
Term
Regina Manifesto
Definition
Platform of the Co-Operative Commonwealth Federation party; it supported public ownership of industry and social programs to assist those in need
Term
Social Credit Party
Definition
Political party founded in Western Canada; opposed to capitalism
Term
Union Nationale
Definition
Nationalist French-Canadian political party led by Maurice Duplessis
Term
Quebec Nationalism
Definition
A movement advocating for the protection and development of Quebecois culture and language
Term
Unionization
Definition
The formation of labour unions
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