Canada And The World Flashcards
What is globalization?
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment.
What is developing?
The term developed country is used to describe countries that have a high level of development according to some criteria
What is Newly Industrializing Country? (NIC)
economists to describe a country whose level of economic development ranks it somewhere between the developing and first-world classifications.
What is NGO?
A non-governmental organization (NGO) is any non-profit, voluntary citizens’ group which is organized on a local, national or international level.
what is NATO?
The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949.
What is NAFTA?
the North American Free Trade Agreement between the United States, Canada, and Mexico (NAFTA) entered into force. (allowed no tax on trade)
What is Trade Surplus?
An economic measure of a positive balance of trade, where a country’s exports exceeds its imports.
What is trade deficit?
An economic measure of a negative balance of trade in which a country’s imports exceeds its exports. A trade deficit represents an outflow of domestic currency to foreign markets.
What is peacekeeping?
the active maintenance of a truce between nations or communities, especially by an international military force.
What is WTO?
the only global international organization dealing with the rules of trade between nations.
What is MNC?
A corporation that has its facilities and other assets in at least one country other than its home country.
What is the Human Development Index?
Statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development.
