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64 Cards in this Set
- Front
- Back
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Economic Globalization |
The spread of trade, transportation, and communication systems around the world in the interests of promoting worldwide commerce. |
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Great Depression |
29-39 The longest and most widespread economic depression. Those who borrowed money could not pay and people had to spend less meaning less demand. |
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Black Thesday |
Wall street crashes con September 1929. Stocks fell and investors sold all shares. |
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Stock Market |
The collection of markets and exchanges where regular activities of buying, selling, and issuance of shares of publicly-held companies take place. |
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Reparations |
The act of making amends in the form of payment. Germany was crippled by WW1 reparations. |
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Tariff |
Tax Trade barriers between countries |
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Deflation |
The general downward movement of prices for goods and services during the great depression. |
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GDP |
Gross domestic product is the market value of all the goods and services produced within a country in one year. |
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Unemployment rate |
The percentage of the able bodied work force that is unemployed. |
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Bank reserves |
The cash minimums that banks must keep on hand in order to meet any large or unexpected demand. |
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Budget deficit |
When the federal government’s expenditures exceed the budget collected income tear |
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Fiscal policy |
The spending and taxing policies used by the government to influence the economy. |
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Attrition |
Wearing down the opponent |
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United Nations |
- supports democracy - helps with trade issues - protects smaller countries - keeps oceans independent |
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Bretton Woods Conference |
44 countries met to find out how to prevent a war in 1944. |
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John Maynard Keynes |
He wanted government involvement. |
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Friedrich Hayek Milton Friedman |
He wanted no government involvement. |
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General Agreement on Tariffs and Trade |
Became the WTO |
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Market economy |
A system in which economic decisions and the pricing of goods are determined by private business. Less government intervention. |
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Communism |
A system in which the government has total control over the necessities of citizens. |
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Import |
Goods coming into a country. |
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Export |
Goods leaving your country. |
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World Bank |
Long term loans Help countries develop |
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International Monetary Fund |
Short term loans Financial crises |
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Outsourcing |
When TNC’s obtain goods from foreign suppliers. |
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TNC |
A corporation based in one country that operates in another. |
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Trade Liberalization |
The removal of trade barriers between nations. |
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Free Trade |
Trade without barriers. |
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Containerization |
Shipping method of putting goods into containers. |
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Consensus |
A general agreement. |
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Sanctions |
Economic actions such as a trade boycott. |
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USMCA (NAFTA) |
US Mexico Canada agreement - free trade |
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European Union |
Liberalized trade area between some European countries that share a currency. |
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E-commerce |
Business that happens via communication technologies. |
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Sustainability |
The ability to provide resources necessary to meet peoples needs. |
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Ecological footprint |
Represents the area of the Earth’s surface necessary to sustain your needs. |
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Resource Gap |
The gap between resources the earth can supply and what people now consume. |
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Stewardship |
Accepting responsibility for ensuring that the earth is sustained. |
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Flag of convenience |
Occurs when a ship is registered in a country other than that of its owner. |
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Alberta Tar Sands |
Oil sands that are rich in resources, but are costly to run. |
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Alternative energy sources |
Non conventional energy sources like solar and wind. |
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Kyoto protocol |
An agreement that called on countries to reduce gas emissions by 5.2%. |
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Sustainable prosperity |
Practicing sustainability and and resolving trade issues |
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Sustainable development |
Development that meets needs of the present and future without harming the environment. |
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HDI |
Human development index measures quality of life and is inaccurate. |
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GNH |
Gross national happiness promotes culture environment, and gov. |
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Knowledge Economy |
An economy in which growth is dependant on information. |
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Privatization |
Less government involvement Private owned businesses |
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Foreign investment |
The purchase of assets in one country by someone outside of that country. |
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Global climate change |
Steady change in global average temperatures. |
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Millennium Development Goals |
Eradicate hunger and poverty Universal education Gender equality Child mortality Maternal health Diseases Environment Global partnership for development |
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Communism vs capitalism |
Public vs private |
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Disparity |
Economic differences |
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Free trade vs fair |
Free trade is free and fair trade is equitable |
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Stock market crash |
Greedy depression |
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Cultural revitalization |
Bringing aspects of a culture back |
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Economic sovereignty |
Ability to govern your economics independently |
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Economic Protectionism |
Protecting the economy |
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FTAA |
free trade agreement of the americas -Reduce economic barriers in countries |
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Maquiladoras |
US companies that outsource to mexico |
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APEC |
Asia pacific economic cooperation |
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Advantages of flagging out |
Flag of convenience Lower environmental standards |
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Interdependence |
Countries depending on each other |
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Written Response Points |
Main message PERSPECTIVE - proof and explain DIMENSION OF GLOBALIZATION - proof and explain |
