Podcast
Questions and Answers
What is the definition of capital?
What is the definition of capital?
What does commerce refer to?
What does commerce refer to?
What is an embargo?
What is an embargo?
Stopping of trade
Define exploitation.
Define exploitation.
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What does free trade mean?
What does free trade mean?
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What is imperialism?
What is imperialism?
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Define injunction.
Define injunction.
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What does manifest destiny refer to?
What does manifest destiny refer to?
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Define misogyny.
Define misogyny.
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What are tariffs?
What are tariffs?
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What does the term 'annex' mean?
What does the term 'annex' mean?
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Study Notes
Key Economic and Legal Terms
- Capital: Wealth in the form of money or property used in a business by individuals or organizations.
- Commerce: Large-scale buying and selling of goods and services.
- Embargo: An official ban or stopping of trade with a specific country or goods.
Social and Political Concepts
- Exploitation: Taking unfair advantage of a person or situation for personal gain.
- Free Trade: Trade policies that do not impose tariffs or regulations such as wage, safety, or environmental laws on transactions.
- Imperialism: The policy of a nation to exert economic, political, and military dominance over weaker nations under the guise of moral and humanitarian reasons.
Legal Definitions
- Injunction: A court order requiring a person or organization to perform or refrain from a specific action.
Historical Context
- Manifest Destiny: The belief that the U.S. was destined by God to expand its territory across North America and to spread American culture globally.
- Misogyny: A cultural or individual prejudice against women, characterized by dislike or contempt.
Tariffs and Economic Policies
- Tariffs: Taxes imposed on imports to protect domestic industries by making foreign goods more expensive.
- Example of Tariffs: The U.S. used tariffs to protect its manufacturing industry from British imports during the industrial revolution.
Significant Events and Actions
- Annexation of Texas: After Texas gained independence from Mexico in 1836, it was annexed by the U.S. in 1845 upon Texas' request.
- NAFTA: A trade agreement to encourage free trade between the U.S., Canada, and Mexico initiated in 1989.
Impacts of Policies
- U.S. Industrialization: Factory owners during the Industrial Revolution exploited workers to maximize profit through wage cuts.
- Importance of San Francisco Bay: The U.S. sought to purchase California from Mexico due to the strategic commercial significance of its bay.
Implications of Precedents
- Precedent of Injunctions: In 1875, the Supreme Court upheld the president's authority to issue injunctions, exemplified by the Pullman strike scenario.
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Description
Test your knowledge on key business terminology with this set of flashcards. Each card provides a definition for essential terms like capital, commerce, embargo, and exploitation. Perfect for students and professionals alike!
