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After World War II, the Advanced Nations of the West

question 32

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After World War II, the advanced nations of the West committed themselves to increasing barriers to the free flow of goods, services, and capital between nations.


Definitions:

Capitalist States

Countries where the trade and industry are controlled by private owners for profit, rather than by the state.

Authoritarian States

Nations governed by a single ruler or a small group of individuals, where individual freedoms and democratic processes are limited.

Government Allocates

This term signifies the process by which a government distributes resources or funds among various departments, projects, or areas of need within the country.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

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