Social 10-1 Unit 3 Flashcards
Economic Globalization
The interconnected portion of the growth of trade within the countries of the world
Reparations
Making amends due to doing something wrong Ex. Germany having to fix places around the world due to the damage they caused
Communism
A government system where one person doesn’t own anything but the whole country owns it
Economic Depression
An extreme economic recession
Market Economy
Private businesses run the economy and the restrictions of trade and production are reduced
Outsourcing
Looking to other countries to pay for less in labour and production costs
Containerization
A form of shipment for large quantities of items such as merchandise through large containers.
Trade Liberalization
The reductions of rules to trade between different teriffs around the world. makes trade easier
Consensus
A general agreement
Free trade
International trade with no rules and regulations on specific products
Sanctions
The penalty for disobeying a law or rule
Ecological Footprint
The impact of a person or community to the environment
Sustain
To keep
Sustainability
To keep going without running out of something completely for a long period of time
Stewardship
The job of organizing or taking care of something
