Dolla Dolla Bills Can't Do It By Yourself People & Groups It's Just Business Concepts/Terms
100
What is the Bretton Woods Agreement?
A treaty created after WWII in the woods that established rules for a postwar economy
100
What is the World Trade Organization or WTO?
International organization that works to improve trade relations, removing tariffs and other barriers to trade
100
Who is John Maynard Keynes?
This individual felt the government should manage the economy with fixed exchange rates
100
What is outsourcing?
Hiring of one company by another to fulfill production tasks usually in another country using cheap labour
100
What are Crown Corporations?
In Canada, these companies are owned by the government (or the Queen)
200
What is the World Bank or WB?
Part of the UN that provides loans to less developed countries experiencing financial troubles
200
What is CIDA or Canadian International Development Agency?
Canadian government agency that gives foreign aid to less developed countries
200
Who is Friedrich Hayek?
This Individual believed less government meant greater economic prosperity and freedom
200
What is Free Market Economy?
An economic system in which the government does not intervene
200
What is Economic Nationalism?
Type of nationalism that is concerned about the impact of foreign investment on a country’s independence and identity
300
What is the IMF or International Monetary Fund?
Deals with international monetary affairs and helping expand world trade; they also monitor exchange rates
300
What is the Group of 8 or G8?
The eight major industrial democracies that discuss economic and foreign policies
300
Who is Milton Friedman?
He maintained there is a link between inflation and the money supply, mainly that inflation is to be regulated by controlling the amount of money poured into the national economy
300
What is Trade Liberalization?
A process that involves reducing or removing trade barriers so goods and services can move around the world more “liberally”
300
What is Sustainability?
The degree to which Earth is able to provide the natural resources necessary to meet peoples’ needs
400
What is the International Monetary System?
Global network of institutions that the IMF and WB make up
400
What is the World Health Organization or WHO?
A specialized agency of the United Nations (UN) that is concerned with international public health
400
What is the European Union or EU?
World’s largest & most powerful common market with common foreign & security policies, and address common issues all faced by the membership
400
What is Free Trade Agreement?
1989 agreement between the USA and Canada to eliminate trade barriers
400
What is Economic Globalization?
Type of globalization involving trade, transportation, communication and the spread of commerce around the world
500
What is NAFTA or North America Free Trade Agreement?
A trade agreement between Canada, the USA and Mexico
500
What are TNCs or Transnational Corporations?
Companies that operate in two or more countries
500
What is the Kyoto Protocol?
International agreement intended to reduce greenhouse gases in order to combat climate change
500
What is Agribusiness?
Large-scale agricultural businesses like factory farms or feedlots
500
What are HIPCs or Heavily Indebted Poor Countries
A group of developing countries with high levels of poverty and debt and are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank






Globalization Unit 3

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