Related Issues Chapter 3

Question 1

Define Economic Globalization

Answer 1

The process in which businesses and government work together on an economic global scale

Question 2

Define Enviromental Globalization

Answer 2

Companies and government working together to help and protect the enviroment

Question 3

Define Political Globalization

Answer 3

Political decisions and actions becoming more international

Question 4

Define Anti-Globalization

Answer 4

Against Globalization

Question 5

What is the World Trade Organization?

Answer 5

An organization that regulates international trades

Question 6

What is the North American Free Trade Agreement?

Answer 6

An agreement to remove the barriers between Canada, Mexico and the US

Question 7

What is the International Monetary Fund?

Answer 7

An international organization which their goal is to help all countries be economically stable

Question 8

What is the World Bank?

Answer 8

a financial bank that is open to all countries, They provide loans and charge interest fees.

Question 9

What is the Bretton Wood Conference?

Answer 9

A 1944 Meeting between representatives from allied countries to create a new monetary system

Question 10

What is the International Rebuildinh Fund?

Answer 10

A fund to help economies rebuild after disasters such as wars.

Question 11

What is the Free Trade Area of The Americas?

Answer 11

A proposal to remove all trade barriers among all countries of America

Question 12

Define Internation Organization

Answer 12

Companies formed by multiple countries to work on common world problems

Question 13

Define Capitalism

Answer 13

Where any industry is larged or entirely private by one company for profit

Question 14

Define Communism

Answer 14

The economic or political ideology advocating for a classless system meaning production is owned communally

Question 15

Define Socialism

Answer 15

An economic system where production is regulated and owned by a community as a whole

Question 16

Define Privatization

Answer 16

The transfer of ownership of property or business from a government to a privately owned company

Question 17

Define Private Ownership

Answer 17

Property that is owned by businesses or individuals rather than the government or community

Question 18

Define Merchantilism

Answer 18

An economic policy used to increase wealth and power. (Usually restrictive)

Question 19

Define Outsourcing

Answer 19

When a company’s production is done in another country and shipped for marketing

Question 20

Define Trade Liberalization

Answer 20

The removal or reduction of trade barriers to encourage free trade

Question 21

Define Tariffs

Answer 21

Taxes on imported goods to protect domestic industries

Question 22

What is the Bretton Woods Agreement?

Answer 22

An agreement to equalize wealth, trades, and removal of competition

Question 23

What is the Reciprocity Agreement?

Answer 23

A mutual agreement between countries to provide similar benefits or privileges to each other

Question 24

Define Sustainable Prosperity

Answer 24

Living a satisfying life in a way that can be maintained without harming or depletion of the enviroment.