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social > social 10 unit 3 vocab > Flashcards

social 10 unit 3 vocab Flashcards

1
Q

TARIFFS

A

A tax on imported goods or services. It is meant to reduce competition with domestic goods or services

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2
Q

Subsidy

A

Direct financial help, such as loans, grants, or lower taxes that the government provides to an industry (it can also be to an individual).

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3
Q

Trade Liberalization

A

Liberalization comes from the word liberty. Liberty = Freedom. This term means making trade free. It is a verb; an action word. Reducing barriers, such as tariffs, to trade. It encourages more trade.

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4
Q

Free Trade

A

Trade between countries with relatively few restrictions (usually no tariffs). Trade liberalization is established through the creation of free trade agreements.

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5
Q

Containerization

A

The transporting of goods in standard-sized shipping containers

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6
Q

Just in Time Delivery

A

Strategy in supply chain orders, intended to eliminate warehouses and sync orders

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7
Q

World Bank

A

International bank owned, developed and participated in by 187 countries

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8
Q

IMF

A

(International Monetary Fund)
Money for the IMF is provided by member countries Each country pays a certain amount based on the size of the economy; funding agent

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9
Q

G7 and G8

A

Canada, France. Germany, Italy, Japan, Russia, the United Kingdom,
and the United States.
◻ Was an informal group of the most developed, richest 8 nations whose leaders met annually to discuss global issues including world trade and foreign policies. Although it was not a formal organization, it had significant influence because it’s members had 50% of the vote in the World Bank and IMF.
◻ Russia was kicked out making it the G7

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10
Q

G20

A

The G20 was proposed by Paul Martin as an alternative to the G8. The G20 met in 2008 but officially replaced the G8 in 2009 as the main global economic council for the wealthiest nations.

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11
Q

WTO

A

(World Trade Organization)
1995-Present
WTO aims to increase international trade by continually reducing trade barriers and controlling trade.

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12
Q

Corporate Responsibility

A

The impact that an organization makes in society, environment and economy (TenTree uses there corporate responsibility as a big selling point)

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13
Q

GDP

A

(Gross Domestic Product)
The value of all the goods and services a country produces in a year. GDP is often used to measure the strength of a country’s economy.

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14
Q

Standard of Living

A

the level of material comfort as measured by the goods, services, and luxuries available to an individual, community, or nation.

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15
Q

HDI

A

(Human Development Index)
Created by the United Nations.
Measures the ability of a country to provide its citizens opportunities to have productive lives.
- Life Expectancy
- Education
- Standard of Living

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16
Q

IHDI

A

(Inequality Adjusted Human Development Index)
combines a country’s average achievements in health, education and income with how those achievements are distributed among country’s population by “discounting” each dimension’s average value according to its level of inequality. Thus, the IHDI is distribution-sensitive average level of human development.

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17
Q

GNH

A

(Gross National Happiness)
Bhutan has developed a way to measure happiness. The “Four Pillars” of national happiness
1. Sustainable and equitable economic development
2. Environmental conservation
3. Cultural promotion
4. Good governance

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18
Q

Gender Gap

A

The gender gap to refers to the gap between men and women in the areas of social, economic, and political differences.

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19
Q

Knowledge Economy

A

the development and distribution of knowledge – often in terms of technological advances.

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20
Q

Ingenuity Gap

A

refers to the gap between people’s need for new and innovative solutions to problems and their ability to supply those solutions.

21
Q

Disparity

A

Range in the value of treatment

22
Q

Sustainability

A

The degree to which Earth is able to provide the resources necessary to meet people’s needs.

23
Q

Ecological Footprint

A

The area of the earth’s surface necessary to sustain the level of resources a person uses and the waste she or he creates.

24
Q

Narrative

A

a spoken or written account of events connected to a story

25
Q

Opinion

A

a view that is not necessarily a fact

26
Q

Fact

A

a proven statement

27
Q

Statistics

A

analyzing a pattern through graphs

28
Q

Quantifiable

A

able to be expressed or measured as a quantity

29
Q

Sanctions

A

a penalty for disobeying the law

30
Q

Trading Blocs

A

Groups of countries working together to give one another better/preferential trade agreements are called trading blocs. Usually trading blocs have free trade among members.

31
Q

GATT

A

General Agreement on Tariffs and Trade: 1947-1995 GATT was a group of countries that believed free trade among members would encourage peaceful relations. In 1995 it evolved into the WTO

32
Q

Transnational Corporations

A

Businesses that operate in a number of different countries.

33
Q

NAFTA

A

North American Free Trade Agreement – created free trade between Canada, the US and Mexico.

34
Q

Quality of Life

A

The degree of enjoyment and satisfaction experienced in everyday life.

35
Q

Shipbreaking

A

a type of ship disposal

36
Q

Reparations

A

The act of making amends for wrongdoings. May include payments made by a defeated enemy to countries whose territories were destroyed during the war

37
Q

Protectionism

A

protection of domestic industries against foreign competition

38
Q

Nationalism

A

Identification with one’s nation

39
Q

Breton Woods Conference

A

Conference that occurred before the end of WWII to discuss how they would manage the fallbacks in society due to the war and was also the birth place to several international organizations, today.

40
Q

Treaty of Versailles

A

formal ending of WWI

41
Q

Inflation

A

Rise in prices

42
Q

Hyperinflation

A

Rise of prices, uncontrollably and quickly

43
Q

Stagflation

A

A combination of high inflation and economic stagnation

44
Q

Keynes

A

economic philosopher that developed the boom and bust cycle.

45
Q

Hayek

A

economic philosopher that believed that the markets can generate enough competition for themselves that the government does not need to get involved

46
Q

Universal Declaration of Human Rights

A

an international document stating the INDIVIDUAL rights of the people

47
Q

Resource Gap

A

Estimation between a company’s resources and the estimated resources they will need for the future

48
Q

Flags of Convenience

A

A flag under a country in which a ship is registered or not. Typically used to avoid shipping requirements

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