Global systems

Question 1

Bilateral agreement

Answer 1

Agreement on trade/aid that is agreed by two parties

Question 2

Bottom up

Answer 2

When the local people are consulted and supported in undertaking development projects and their decisions

Question 3

Common markets

Answer 3

When a group of countries eliminate trade barriers for goods and services.

Question 4

Customs Union

Answer 4

Trade bloc that allows free trade with no barriers between members but requires a tarrif on external trade

Question 5

Geopolitics

Answer 5

The study of international relations in relation to geographical factors.

Question 6

IPCC

Answer 6

Intergovernmental panel on climate change. The UN body that conducts research and aims to produce the most up-to-date and scientifically clearest reports on the state of climate change

Question 7

IMF

Answer 7

International monetary fund. Funds development in poorer countries, funded by by the richer countries. Helps to facilitate and enforce the global capitalist system

Question 8

Multilateral agreement

Answer 8

Agreement negotiated by more than two parties

Question 9

Outsourcing

Answer 9

Cost-saving strategy to increase a corporation’s profitability by delegating operations to external companies, usually in a different place.

Question 10

Top down

Answer 10

When decisions on development projects are made by central authorities with limited consultation of the local people

Question 11

World Bank

Answer 11

Organisation set up after WW2 which tries to promote investment globally, providing loans for countries that agree to submit to the global capitalist system