3 Week Test 14/11/22 Flashcards
Actors
Players on the world stage that participate in global governance, exercise power, make decisions, solve problems and improve lives
Agrotechnologies
The application of modern technologies, such as irrigation technology to agriculture
Antarctic convergence
a natural boundary in the Southern Ocean which loops
all the way around the Antarctic continent and separates cold north-flowing waters from the warmer waters of the subantarctic
Banana Republic
A country whose economy is dependent on one or few commodities, often leading to a politically unstable state
Bandwidth Throttling
The deliberate slowing of internet service by an internet service provider (ISP)
Bilateral
Between two parties
Bioprospecting
The process of discovery and commercialisation of new products based on biological resources
Colonialism
The policy or practice of a power extending control over weaker nations or people
comparative advantage
when a country specialises in producing only those
goods that can be produced efficiently and at the lowest opportunity cost
Council of the European Union
represents the governments of member countries and
promotes/defends national interests. The government
ministers share power over EU budget and legislation
with the European parliament
de-skilling
when traditional skills and crafts may be lost when
production technology replaces manpower
Doha Development Round
the trade-negotiation round of the WTO that began in
2001 (also known as the Doha Round or the Doha
Development Agenda)
Domain
a territory or activity over which control is exercised
domestic monopoly
when a single firm controls a large proportion of the
domestic market (25% or greater). This may mean
domestic prices are kept high as there is less competition
Dutch disease
the negative consequences as a result of large increases in a country’s income. It is usually associated with the discovery of natural resources, particularly oil reserves, but can also result from any large increase in foreign currency such as FDI
economies of scale
the ability to reduce costs proportionately by increasing the scale of production
empowerment
to give power or authority to someone. Female
empowerment involves the fuller participation of women in a nation’s economy and society
European Commission
an executive body that is responsible for proposing and implementing EU laws, monitoring treaties and the day- to-day running of the EU. Members are appointed by EU national governments
European Council
sets the EU’s overall political direction and priorities. It is made up of the heads of state or government of EU
member countries
European Parliament
represents the 500 million EU citizens and is directly
elected by them. Adopts the laws proposed by the
Commission. Shares power over EU budget and
legislation with the Council of the European Union
Fairtrade
a value-based organisation and trademark that aims to
tackle injustices of the globalised economy. Fairtrade
aims to pay farmers a guaranteed minimum price, offer
fair terms of trade and make payment of an additional
development premium for reinvestment
