Unit One Flashcards
What do critics say threaten global economic interconnection?
The soveirnity
The first example of contemporary economic globalization is
The Marshall plan( teacher said don’t worry about it
Socialism
Advocates that the way of production, distribution and exchange should be owned or regulated by the community as a whole
Market economy
An economic system in which production and prices are determined by unrestricted competition between private businesses
What are 3 functions of the International Monetary Fund?
Maintaining the stability of international currencies
Provide emergency loans to countries.
Structural adjustment programs
Why was the EU established?
For regional cooperation among states with the same goals in mind
What industry is not part of the knowledge economy
Textiles
What is global interdependence?
Mutual dependence between countries across the world
Why wasn’t the Kyoto protocol successful?
Economic concerns of countries outwheighed environmental responsibility
Primary goal of NAFTA
Cooperation through closer trade links
Movement to greater membership in the EU is a threat to what?
Economic and cultural dependence
By the mid 1990s Canada, Mexico and the United States they agreed to what?
Establish a free trade zone
NAFTA was an alliance between who?
Canada, US, Mexico 
NAFTA was drafted in what year? 
Canada + US - 1989
Mexico joined - 1994
Three points for supporters of NAFTA 
would create thousands of high-paying jobs
would raise living standards in all three countries
would improve environmental standards, 
Three points for opponents of NAFTA 
- Thousands of jobs leave Canada for the USA Mexico.
- Would lower employment rates in all three countries
- With negatively affect, health environment and safety in all countries, 
The left wing part of the WTO would cease if the organization did what?
Began to enforce fair worldwide labour standards and environmental standards
Reasons why TNCs invest in third world countries
Gain assured added to raw materials
Access to local markets
Cheap labour
Escape environmental and other controls on their Activities
Present day economic system of Wealthy countries?
The knowledge economy
What is the GPD of a countrie?
A measure of the health of a countries economy
Why can GPD be misleading?
It includes the children’s income even though they don’t work or event very much
What is social globalization ?
Like a big exchange of customs, beliefs, and ways of like that happens on a global scale
What is media convergence
When different media forms, technologies, and platforms into a unified system
What is assimilation
When a minority group adopt the culture of a dominant culture so they become part of that culture( indigenous vs settlers)
