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MIDTERM 4B > CONTEMP WORLD > Flashcards

CONTEMP WORLD Flashcards

1
Q

NAFTA

A

NORTH AMERICAN FREE TRADE AGREEMENT

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2
Q

GATT

A

GENERAL AGREEMENT ON TARIFFS AND TRADE

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3
Q

WTO

A

WORLD TRADE ORGANNIZATION

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4
Q

IMF

A

INTERNATIONAL MONETARY FUND

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5
Q

GDP

A

GROSS DOMESTIC PRODUCT

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6
Q

G7

A

GROUP OF 7

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7
Q

WB

A

WORLD BANK

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8
Q

FDI

A

FOREIGN DIRECT INVESTMENT

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9
Q

SDRs

A

SPECIAL DRAWING RIGHTS

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10
Q

EU

A

EUROPIAN UNION

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11
Q

It is a term used to describe the changes of societies and the world economy that are the result of dramatically increase trade and cultural exchange

A

GLOBALIZATION

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12
Q

Element of globalization is the expansion of world trade through the elimination or reduction of trade barriers, such as import of tariffis

A

INTERNATIONAL TRDAE

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13
Q

Engaging in protectionism generates adverse consequences for a country that undertakes such a policy

A

RESTRICT INTERNATINAL TRADE

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14
Q

They concluded that since 1980, globalization has contributed to a reduction in poverty as well as a reduction in global income inequality

A

INTERNATIONAL MONETARY FUND

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15
Q

These ancient road connect Asia, Europe and Africa, is an example of the transformative power of global exchange

A

SILK ROAD

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16
Q

This global movement aimed at eliminating trade boundaries and promoting globalization

A

FREE TRADE MOVEMENT

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17
Q

This conference enable the leaders to agree in the foundation of the United Nations after the 2nd world war

A

YALTA CONFERENCE

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18
Q

It is a period in our history that the Soviet Union and the United States divided the world into a bipolar system

A

COLD WAR

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19
Q

Basic institutions and public facilities upon which an economy’s development depends.

A

INFRASTRACTURE

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20
Q

Sense of national consciousness that boosts the culture and interest of one country over those of all countries

A

NATIONALISM

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21
Q

Refers to the increases in the market potential, trade and investment potential and resource accessibility

A

ECONOMIC GLOBALIZATION

22
Q

Which was movement aimed at eliminating trade boundaries and promoting globalization

A

NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)

23
Q

The united states established a radio network during the cold era which was known as

A

VOICE OF AMERICA (VOA)

24
Q

TWO EFFECTS OF GLOBALIZATION

A

GLOBAL MARKET OPPURTUNITIES
GLOBAL MARKET THREATS

25
Q

REFERS TO THE INCREASES IN MARKET POTENTIAL, TRADE AND INVESTMENT POTENTIAL AND RESOURCE ACCESSIBILITY

A

GLOBAL MARKET OPPURTUNITIES

26
Q

CAN BE DESTRUCTIVE TO FIRM PERFORMANCE DUE TO AN INCREASING NUMBER OF COMPETITORS AND AND AN INCREASE IN INTENSITY OF COMPETITION COUPLED WITH HIGHER MARKET.

A

GLOBAL MARKET THREATS

27
Q

POLITICAL STRUCTURE OF A CONUTRY MAY ALSO JEOPARDIZE A FOREIGN PRODUCERS SUCCESS IN INTERNATIONL TRADE

A

POLITICAL STRUCTURE

28
Q

central of any society is the common set of values shared by its citizens that determine what is social acceptable.

A

CULTURAL DIFFERENCES

29
Q

level of economic development varies considerably, ranging from countries where everyday survival is a struggle.

A

ECONOMIC ENVIRONMENT

30
Q

THE SIX CORE CLAIMS OF GLOBALIZATION

A
  1. GLOBALIZATION IS ABOUT THE LIBERATION AND GLOBAL INTEGRATION OF MARKETS
  2. GLOBALIZATION IS INEVITABLE AND IRREVERSIBLE
  3. NOBODY IS IN CHARGE OF GLOBALIZATION
  4. GLOBALIZATION BENEFITS EVERYONE
  5. GLOBALIZATION FURTHERS THE SPREAD OF DOMOCRACY IN THE WORLD
  6. GLOBALIZATION REQUIRES WAR ON TERROR
31
Q

both a body of economic theory and policy stance . It claims that a largely unregulated capitalism system.

A

NEOLIBERALISM

32
Q

refers to the interconnected worldwide economic activities that take place between multiple countries.

A

GLOBAL ECONOMY

33
Q

considered to be an impact of globalization .

A

INTERNATIONAL TRADE

34
Q

Money can be transferred at a faster rate between countries compared to goods, services, and people; making finance one of the primary features of global economy

A

INTERNATIONAL FINANCE

35
Q

Refers to an investment strategy that is not constrained by geographical boundaries.

A

GLOBAL INEVESTMENT

36
Q

BENEFITS OF GLOBAL ECONOMY

A
  1. FREE TRADE
  2. MOVEMENT OF LABOR
  3. INCREASED ECONOMIES OF SCALE
  4. INCREASED INVESTMENT
37
Q

Is an excellent method for countries to exchange goods and services

A

FREE TRADE

38
Q

Increased migration of the labor force is advantageous for the recipient country as well as for the workers.

A

MOVEMENT OF LABOR

39
Q

Specialization of goods production in most countries has led to advantageous economic factors.

A

INCREASED ECONOMIES OF SCALE

40
Q

it has become easier for countries to attract short-term and long-term investment.

A

INCREASED INVESTMENT

41
Q

refers to the world being a highly fragile ecological system.

A

ENVIRONMENT DIMENSION

42
Q

Shows the relationship of the firm market.

A

MARKET INTEGRATION

43
Q

basic types of market integration

A
  1. HORIZONTAL INTEGRATION
  2. VERTICAL INTEGRATION
  3. CONGLOMERATION
44
Q

the modern world system is now a global economy with a global political system.

A

GLOBAL INTERSTATE SYSTEM

45
Q

is a macro-scale approach to analyzing the world history of the mankind and social changes in different countries.

A

WORLD SYSTEM THEORY

46
Q

appears to be the powerful, wealthy and highly independent of outside control

A

CORE NATIONS

47
Q

is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement.

A

WORLD BANK

48
Q

EIB

A

EUROPEAN INVESTMENT BANK

49
Q

IDB

A

INTER-AMERICAN DEVELOPMENT BANK

50
Q

ADB

A

ASIAN DEVELOPMENT BANK

51
Q

IFAD

A

INTERNATIONAL FUNDS FOR AGRICULTURAL DEVELOPMENT

52
Q

is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduce poverty

A

INTERNATIONAL MONETARY FUND

MIDTERM 4B (3 decks)

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