Geo extraaas Flashcards
What is a gis
geological information system
what is interdependence of nations?
the fact that the world relies on each other for various things
What is imports?
products or services that is brought into a country from another
What is Exports
Products or services produced in one country for sale in another
What is trade surplus
situation where a country has imported less than they have exported (Good)
What is trade deficit
situation where a country has exported less than they have imported (Bad)
What is tarriffs
Tax put on goods/services from another country to protect local businesses from foreign competition
what is net imports
difference between the value of imports versus exports in a country
What is free trade?
trade without tariffs
What is trade
exchange of goods/services between countries
What is balance of trade?
difference between the value of the goods/services that a country exports and value of goods/services it imports
Where do many of the things we buy come from?
developing countries
What is child labour?
children working under the age of 12
what is the world trade organization
established in 1995, multinational institution when global trade rules are negotiated and enforced
what is FTAA
Free trade agreement of the americas; established in 2005; 34 governments in america to ensure prosperity, democracy and free markets or goods/services
