Social studies quiz 1

Question 1

Regional Integration

Answer 1

Several nations as one that from one market. They form one common goal. They think of strategies to fix/solve challenges and problems. to promote stability, wealth and integration

Question 2

Bi-lateral agreement

Answer 2

This is an agreement between two groups, countries, states, or nations.

Question 3

Trans-national cooperation

Answer 3

an organization that is registered and operates and has assets or facilities in more than one country or nation at a time. but do not have a centralized management system.

Question 4

Multilateral agreement

Answer 4

Is a commence treaty between 3 or more nations.

Question 5

common market

Answer 5

an economic association (as of nations) formed to remove trade barriers among its members.

Question 6

single market

Answer 6

a group of countries that have an agreement which allows goods to be moved, bought, or sold between them very easily.

Question 7

single economy

Answer 7

is an arrangement which further harmonizes economic, monetary and fiscal policies and measures across all member states of the Caribbean community to underpin the sustainable development of the region.

Question 8

economic integration

Answer 8

is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies. will lead to expansion of industries and economic growth.

Question 9

Developed countries

Answer 9

High standard of living and thriving economy. Example: Trinidad & Tobago and Barbados.

Question 10

Independent state

Answer 10

sovereignty over its territory. The condition of being politically free. Example: Belize and all the Caribbean countries.

Question 11

Underdeveloped countries

Answer 11

poor countries. Example: Haiti and Grenada

Question 12

Developing countries

Answer 12

Countries that has not yet reached the stage of development. Example: Belize

Question 13

Trade liberation

Answer 13

Is the removal of tariff and non-tariff barriers in trade, basically international

Question 14

Globalization

Answer 14

Describes how trade and technology have made the world into a more connected and interdependent place.

Question 15

multination corporation

Answer 15

any corporation that is registered and operates in more that one country at a time. Example: McDonalds, Burger King, Caribbean tire (in Belize) wester union (in Belize) have a centralized management system.

Question 16

regionalism

Answer 16

an alliance between Economic regions with the purpose of developing each other and promoting peace. Example: the Caribbean

Question 17

Trading blocks

Answer 17

Group of countries with the same political aim and economic. Example: CARICOM

Question 18

Fiscal policy

Answer 18

Use of government spending and revenue collection. By raising taxes. This is being controlled by the government. (it depends on the Economic condition like flotation)

Question 19

Monetary policy

Answer 19

Is the action of a central bank and other institutions that can improve the economy by giving Bonds( credits)
* set by central bank
*used to control the supply of money
*it depends on the condition of the economy

Question 20

Trade barriers

Answer 20

Custom duties, quotas, and licenses in position. this will lead to economic growth.