Unit 2 Social 10 Flashcards
Ecological footprint?
The area of the earths surface, necessary to sustain the level of resources a person uses and the waste they create.
Containerization?
The transporting of goods in standard sized shipping containers.
Economic Depression?
A period of low economic activity accompanied by high levels of unemployment.
Foreign aid?
Money, supplies, and other goods as well as the expertise given by one country to another.
Free-trade?
Trade without tax
Gross national income?
The amount if money earned by everyone in the country.
Market economy?
Government regulations are reduced to a minimum - businesses are free to make decisions.
Non-government regulations?
An organization established by groups of people to work toward specific goals and to gain public support
Outsourcing?
Businesses strategy that involves reducing costs by using cheaper supplies and production of using cheaper labor
Reparations?
The set of making amends of a wrong doing.
Sanctions?
An economic penalty meant to pressure governments to agree to carry out certain actions
Sustainability?
The degree to which earths able to provide the resources necessary to meet people’s needs.
Trade liberalization?
Reducing or removing trade barriers, so goods can move around the world freely
Global north?
The developed world
Global south
The developing world.
Prosperity?
Doing well and having an abundance of resources.
Disparity?
The difference between people in a economic sense.
What is the Bretton woods conference?
It was a meeting between 44 countries to discuss preventing another war.
WW II wasn’t over yet
They didn’t want another war to damage their economies.
Who was John Maynard Keynes?
He was an economist that believed…
Government should help/ influence spending during recessions and depressions.
Raised taxes during prosperitys and recoveries, lower during recessions and depressions.
Ensure that people always have money to spend.
Who was Fredrick Hayek?
Was an economist that believed…
Government should make rules for the economy but never interfere.
No interfering with competition
Lots of government control would lead to a totalitarian government ex: hitler, N. Korea
What is the work bank?
Owned by government members
Reduces poverty in developing countries
Funds specific projects
What is the International Monetary Fund?
Sets dependable international exchange rates
Provides emergency short-term loans to countries
Promotes good governance- get rid of corruption
What is GATT?
General agreement one tariffs and trade.
Aims to gradually eliminate tariffs and trade barriers.
Establishes trade rules
Set rules to protect copyright and intellectual property.
What was the Kyoto protocol?
Meeting that created a goal to reduce green house gases.
Canada failed to meet the goal.
