Global systems Flashcards
IMF
international monetary fund
what does the IMF do?
organisation of 188 countries who work to promote financial cooperation between countries to reduce poverty
UN
united nations
what does the united nations do?
promotes development of poorer nations through work with the IMF and world bank
WTO
world trade organisation
world trade organisation
deals in the rules of trade between countries ensuring trade flows freely
world bank
important source of financial and technical assistance to developing countries, main aim is to reduce poverty
TNC
transnational corporation
what is a TNC?
a global company which operates in more than one country. headquarters in MEDC’S with factories in LEDC’S
Name the organisation that deals with trade
world trade organisation
which institutes help LEDC’S with financial issues?
world bank
imf
what is the gini index?
describes how far away a country’s income distribution is from complete equality
Lorenz curve
if it was 0 you would have perfect equality
he further away from perfect equality the higher the equality
what is interdependence?
the increasing reliance of companies and countries on the developing and manufacturing of goods
what is outsourcing?
cost saving strategy used by companies who arrange for goods or services to be produced or provided by other companies
