Chapter 25 Terms

Question 1

Globalization

Answer 1

the process of increasing cooperation and interdependence between countries, cultures, and economies. It’s driven by the exchange of goods, services, information, and people across borders.

Question 2

Multinational Corporations

Answer 2

A multinational corporation (MNC) is a company that operates in more than one country. They are also known as international companies or transnational corporations.

Question 3

International Monetary Fund

Answer 3

The International Monetary Fund’s (IMF) purpose is to promote economic growth and stability, and to reduce poverty worldwide

Question 4

WTO

Answer 4

The World Trade Organization (WTO) is an international organization that regulates trade between nations. Its goal is to ensure that trade flows freely and predictably.

Question 5

World Bank

Answer 5

The World Bank is an international organization that provides financial and technical assistance to developing countries. The World Bank’s mission is to reduce poverty and improve living standards.

Question 6

Universal Declaration of Human Rights

Answer 6

The Universal Declaration of Human Rights is an international document adopted by the United Nations General Assembly that enshrines the rights and freedoms of all human beings.

Question 7

The North American Free Trade Agreement

Answer 7

The North American Free Trade Agreement (NAFTA) was a trade agreement between the United States, Canada, and Mexico that eliminated tariffs and other trade barriers. It was in effect from 1994 until it was replaced in 2020.
How did NAFTA work?

Question 8

WHO

Answer 8

Founded in 1948, the World Health Organization (WHO) is the United Nations agency dedicated to global health and safety. The Organization connects nations, partners and communities to promote health and serve the vulnerable.

Question 9

Acquired immune deficiency syndrome

Answer 9

Acquired immune deficiency syndrome (AIDS) is a disease that occurs when the human immunodeficiency virus (HIV) damages the body’s immune system. AIDS is the most advanced stage of HIV infection.

Question 10

NGO

Answer 10

A non-governmental organization (NGO) is a non-profit organization that operates independently of a government. NGOs are often mission-driven and can be advocacy or service organizations. They can be local, national, or international in scope.