global economy Flashcards
give 7 millennium development goals
- having a global partnership for development
- achieving universal primary education
- improving maternal health
- promoting gender equality and women empowerment
- combating disease like HIV/AIDS and malaria
- ensuring environmental sustainability
- reducing child mortality
- poverty
A condition characterized by severe deprivation of basic human needs including food, safe drinking water, sanitation facilities, health, shelter, education, and information.
poverty
people in absolute poverty makes how much money per day?
$ 1.25
IN THE
PHILIPPINES . . . A person is officially living in poverty if he makes
100, 356 pesos or 275 per day
The grates contribution why extreme
poverty is falling,
economic globalization
The world’s economies have become more interconnected and free trade has driven the growth of many developing economies.
economic globalization
The process or system by which goods
and services are produced, sold, and
bought in a country or region.
economy
system of production, distribution, and consumption
economy
It refers to the increasing interdependence of world economies as
result of the growing scale of cross border trade of commodities and services, flow of international capital, and wide and rapid spread of technologies.
global economy
A policy of systematic government intervention in foreign trade with the
objective of encouraging domestic production.
protectionism
It is the removal or reduction of restrictions or barriers on the free
exchange of goods between nations.
trade liberalization
Countries being accused of practicing protectionism
Japan, China, USA
It is the concern for the social, economic, and environmental well-being of marginalized small producers.
Fair Trade
Trade protectionism comes in
forms of tariffs and quotas.
Protectionism
how to measure economic growth? It takes into account the country’s entire
economic output. It includes all goods and services that businesses in the country produce for sale. It doesn’t matter whether they are sold domestically or overseas
GDP or Growth Domestic Product
COMPUTING GDP: GDP = private consumption + gross investment + government investment + government spending + (exports – imports)
true
an increase in the amount of goods and services produced per head of the population over a period of time
economic growth
refers to a system by which
a society ranks categories
of people in a hierarchy.
stratification
the result of companies trying to outmaneuver their competitors
economic and trade globalization
refers to the spread of goods, tech, education, and diseases between the Americas and Europe after Christopher Columbus’s so called discovery of the Americas
columbian exchange
an increase in one economic activity can lead to an increase in other economic
activities
multiplier effect
a Bangladeshi professor won the Nobel Peace Prize: He gave small loans, on average around $100, to low income people in rural areas.
muhamad Yunus
BUT WHY DID THE INDUSTRIAL REVOLUTION NOT TAKE HOLD ANYWHERE?
The theory argues that the tension
between tradition and technological
change is the biggest barrier to growth.
