Related Issues Chapter 3 Flashcards
Define Economic Globalization
The process in which businesses and government work together on an economic global scale
Define Enviromental Globalization
Companies and government working together to help and protect the enviroment
Define Political Globalization
Political decisions and actions becoming more international
Define Anti-Globalization
Against Globalization
What is the World Trade Organization?
An organization that regulates international trades
What is the North American Free Trade Agreement?
An agreement to remove the barriers between Canada, Mexico and the US
What is the International Monetary Fund?
An international organization which their goal is to help all countries be economically stable
What is the World Bank?
a financial bank that is open to all countries, They provide loans and charge interest fees.
What is the Bretton Wood Conference?
A 1944 Meeting between representatives from allied countries to create a new monetary system
What is the International Rebuildinh Fund?
A fund to help economies rebuild after disasters such as wars.
What is the Free Trade Area of The Americas?
A proposal to remove all trade barriers among all countries of America
Define Internation Organization
Companies formed by multiple countries to work on common world problems
Define Capitalism
Where any industry is larged or entirely private by one company for profit
Define Communism
The economic or political ideology advocating for a classless system meaning production is owned communally
Define Socialism
An economic system where production is regulated and owned by a community as a whole
Define Privatization
The transfer of ownership of property or business from a government to a privately owned company
Define Private Ownership
Property that is owned by businesses or individuals rather than the government or community
Define Merchantilism
An economic policy used to increase wealth and power. (Usually restrictive)
Define Outsourcing
When a company’s production is done in another country and shipped for marketing
Define Trade Liberalization
The removal or reduction of trade barriers to encourage free trade
Define Tariffs
Taxes on imported goods to protect domestic industries
What is the Bretton Woods Agreement?
An agreement to equalize wealth, trades, and removal of competition
What is the Reciprocity Agreement?
A mutual agreement between countries to provide similar benefits or privileges to each other
Define Sustainable Prosperity
Living a satisfying life in a way that can be maintained without harming or depletion of the enviroment.
