Enquiry Question 2 Flashcards

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1
Q

What is the global ecoonomic system?

A
  • shrinking world,
  • trade blocs,
  • globalisation,
  • glocalisation,
  • Bretton Woods institutions (WTO, IMF, World Bank),
  • theories of power,
  • deindustrialisation,
  • neo-liberalism,
  • post-colonialism,
  • global shift.
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2
Q

What are the roles of IGOs?

A
  • provide forums for discussion,
  • create a mechanism to work on peace and security,
  • deal with economic and social questions,
  • act as a mediator between countries and facilitate cooperation,
  • help states to take a long-term perspective,
  • lend an air of impartiality that enhances their effectiveness.
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3
Q

What is capitalism?

A

It is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.

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4
Q

What is free trade?

A

The exchange of goods and services free of import/export taxes, tariffs and quotas on trade volume.

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5
Q

What are Publicly Traded TNCs?

A

TNCs whose shares are owned by numerous stakeholders (usually other TNCs, banks and large financial institutions such as pension funds) around the world.

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6
Q

What are state-owned TNCs?

A

TNCs that are majority owned or wholly owned by the government.

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