Social Stuidies 10-1 Final Review Unit 3

Front 1

What is the question for unit 3?

Back 1

To what extent does globalization contribute to sustainable prosperity for all people?

Front 2

What are large-scale agricultural businesses, such as factory farms or feed lots called?

Back 2

Agribusiness.

Front 3

What is the perspective of individuals and groups opposed to global trade agreements and their negative consequences for people in less developed countries, for the environment, and for peace called?

Back 3

Anti-Globalization.

Front 4

What is arable land?

Back 4

Land that is good for farming.

Front 5

What are economic programs that aim to reduce government debt by increasing taxes and cutting social programs called?

Back 5

Austerity Programs.

Front 6

What was the agreement forged after the Second World War in Bretton Woods, New Hampshire, by 44 countries to establish a system of rules, institutions, and procedures for the post war global economy called?

Back 6

The Bretton Woods Agreement.

Front 7

What is the Canadian International Development Agency? (CIDA)

Back 7

The government agency that is responsible for administering foreign aid programs in less developed countries.

Front 8

What is another trade organization (other than MERCOSUR) in South America that consists of Bolivia, Columbia, Ecuador, and Peru called?

Back 8

CAN (Comunidad Andina de Naciones).

Front 9

What is a centrally planned economic system?

Back 9

A system under which government planners decide what goods to produce, and how many.

Front 10

What is a common market?

Back 10

An agreement between or among countries that includes the free trade of goods and services and the free movement of capital and labour within the trading bloc.

Front 11

What is a country's ability to produce a product or service with comparatively fewer resources than another country called?

Back 11

Comparative advantage.

Front 12

What are strategies to protect and preserve resources called?

Back 12

Conservation plans.

Front 13

What are standardized units used to carry freight called?

Back 13

Containers.

Front 14

What are government owned companies in Canada called?

Back 14

Crown Corporations.

Front 15

What is deforestation?

Back 15

The destruction of forests by clearing or burning as a result of economic development, such as building roads or conversion to crop land, or through changes in the earth's vegetation due to global warming.

Front 16

What is deregulation?

Back 16

The opening of an industry to more competition by removing government regulations.

Front 17

What is Economic Globalization?

Back 17

The increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies, and capital.

Front 18

What is economic nationalism?

Back 18

Concern about the impact of foreign investment and exchange of goods, services, money, and resources.

Front 19

What is an EEZ?

Back 19

An exclusive economic zone.

Front 20

What are equalization payments?

Back 20

Tax money collected from all provinces by the federal government and then dispensed to distribute wealth more equally throughout Canada.

Front 21

What is the price at which one national currency can be purchased for another called?

Back 21

Exchange Rate.

Front 22

What is a fixed exchange rate?

Back 22

The value of a country's currency as set by it's governments.

Front 23

What is a floating exchange rate?

Back 23

Currency rates that are not fixed by government but instead by their own value on the foreign exchange market?

Front 24

What is the provision of the Bretton Woods Agreement that all printed money, such as a paper dollar, would be convertible to gold at any time called?

Back 24

Gold Standard.

Front 25

What agency's purpose is to screen foreign takeovers and the establishment of new businesses or subsidiaries by non-Canadians?

Back 25

FIRA; Foreign Investment Review Agency.

Front 26

What is the system in which government does not intervene (or intervenes only minimally) in the production and control of goods and services called?

Back 26

Free Market economy.

Front 27

What was the 1989 treaty between Canada and the U.S. that sought to promote trade by reducing tariffs and other and other economic barriers called?

Back 27

The Free Trade Agreement.

Front 28

What is the General Agreement on Tariffs and Trade?

Back 28

An international agreement between 1947 and 1995 that aimed to reduce trade barriers among member countries.

Front 29

What word refers to the way in which global affairs are managed?

Back 29

Global Governance (As there is no global government, global governance typically involves a range of actors including states, as well as regional and international organizations).

Front 30

What is the GPI?

Back 30

The Genuine Progress Indicator; a measure of sustainable prosperity that takes into account the value of non-economic positive factors such as volunteering and education, and negative factors such as pollution and crime.

Front 31

What is the total value of goods and services produced in a country in a calendar year called?

Back 31

Gross Domestic Product (GDP)

Front 32

What is the Group of 8? (the G8)

Back 32

An informal group of the eight major industrial democracies that meets at annual summits to discuss economic and foreign policies. (now known as the G7 since Russia was put on probation).

Front 33

What is an HIPC?

Back 33

Heavily Indebted Poor Countries; they owe debts to more developed countries and have little or no hope of repaying them.

Front 34

What is Human Capital?

Back 34

The knowledge, skills, and talents that workers have.

Front 35

What is inflation?

Back 35

A situation in which the amount of currency in ciculation increases, yet each unit of currency buys less.

Front 36

What is intermodal transportation?

Back 36

A system in which several types of transportation are used to move freight, especially when the starting and finishing point are far apart.

Front 37

What is the international agency that works with the world bank to bring stability to international monetary affairs and to help expand world trade called?

Back 37

The International Monetary Fund.

Front 38

What is the International Monetary System?

Back 38

A global network of institutions established by the Bretton Woods agreement to promote international trade and the regulation of currency among Western Countries.

Front 39

What are the international money markets?

Back 39

Markets in which funds loaned for a short time to businesses or governments are bought and sold, for example, short-term bonds and certificate deposits.

Front 40

What is MERCOSUR?

Back 40

One of the major trade organizations in South America. Includes Argentina, Brazil, Paraguay, and Uruguay.

Front 41

What is a company that combines its clients' money and invests it in a collection of stocks, bonds, and other securities called?

Back 41

A mutual fund.

Front 42

What is the taking over of ownership by the government from a private business called?

Back 42

Nationalization.

Front 43

What was the 1980 federal policy under which the government made oil companies in Alberta lower oil prices throughout Canada to protect Canadians from paying global market prices for oil and gas called?

Back 43

The NEP; National Energy Policy.

Front 44

What is the North American Free Trade Agreement? (NAFTA)

Back 44

1994 treaty among Canada, the United States, and Mexico to improve trade by removing tariffs and other economic barriers.

Front 45

What is OECD?

Back 45

Organization for Economic Co-operation and Development; an international organization that works to meet challenges of globalization, and helping governments achieve sustainable economic growth while maintaining financial stability.

Front 46

What organization was formed to regulate oil production and markets?

Back 46

The OPEC; the Organization of Petroleum Exporting Countries.

Front 47

What is outsourcing?

Back 47

The hiring of one company by another to fulfill certain tasks in production.

Front 48

What is the sale of government-owned industries and services to private businesses called?

Back 48

Privatization.

Front 49

What are proportional shares, such as those paid by member countries of the International Monetary Fund called?

Back 49

Quotas.

Front 50

What is a recession?

Back 50

A period of reduced economic activity lasting longer than two business quarters.

Front 51

What is the consideration of matters beyond the purely material called?

Back 51

Spirituality.

Front 52

What is stewardship?

Back 52

The obligation to maintain resources in a sustainable matter.

Front 53

What is a company controlled by a parent company called?

Back 53

A subsidiary.

Front 54

What is a political system under which individuals are totally subordinate to the decisions of the state called?

Back 54

Totalitarian.

Front 55

What is trade liberalization?

Back 55

The process of reducing barriers of trade.

Front 56

What is the growth of towns and cities as people migrate from rural areas in search of work and other opportunities called?

Back 56

Urbanization.

Front 57

What is urban sprawl?

Back 57

The uncontrolled expansion of urban areas.