| Term | Definition |
| National Identity | a sense of a nation as a cohesive whole, as represented by distinctive traditions, culture, and language.
The image represents the Queen as an emblem of national identity. |
| Velvet Revolution | a nonviolent political revolution, especially the relatively smooth change from Communism to a Western-style democracy in Czechoslovakia at the end of 1989.
The Velvet Revolution was November 17, 1989 - December 29, 1989. |
| Balkanize | divide (a region or body) into smaller mutually hostile states or groups.
Other regions would take pieces of territory, balkanizing the country. |
| Annex | add (territory) to one's own territory by appropriation.
The left bank of the Rhine was annexed by France in 1797. |
| Ghetto | a part of a city, especially a slum area, occupied by a minority group or groups.
Severe ghetto laws led many of the Jews to emigrate. |
| Privatization | the transfer of a business, industry, or service from public to private ownership and control.
The workers are opposing the privatization of the national rail company. |
| Entrepreneur | a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Many entrepreneurs believe there is potential in this market. |
| Holocaust | destruction or slaughter on a mass scale, especially caused by fire or nuclear war.
Numerous people lost their lives during the Holocaust. |
| Collective Farm | a jointly operated amalgamation of several small farms, especially one owned by the government.
The collective farm the workers worked at was owned by the government. |
| Multiplier Effect | the increase in final income arising from any new injection of spending.
A tax cut for the wealthy will have a much smaller multiplier effect in the economy than one for the lower economic classes. |
