Global Trade
The increasing integration of the world’s economies through trade, technology, and the movement of goods and services.
What is economic globalization?
An economic system in which individuals and businesses own property and compete in free markets with limited government involvement.
What is capitalism?
The 1944 meeting that created institutions to rebuild the global economy after WWII.
What is the Bretton Woods Conference?
The ability to meet present needs without compromising the ability of future generations to meet their own needs.
What is sustainability?
Mr. B is from this small Alberta Town.
What is Beaverlodge?
Taxes placed on imported goods to protect domestic industries from foreign competition.
What are tariffs?
This economic philosophy supports minimal government involvement and strong free-market competition.
What is Austrian economics?
The international organization that provides short-term loans to countries facing financial crises.
What is the International Monetary Fund (IMF)?
A measure of how much land and water are needed to support a person or country’s lifestyle.
What is an ecological footprint?
Mr. B's last name has 12 letters and is very French. How would you spell that last name?
The removal or reduction of trade barriers such as tariffs and quotas to encourage international trade.
What is trade liberalization?
This economic theory supports increased government spending during recessions to stimulate economic growth.
What is Keynesian economics?
The organization that provides long-term development loans to reduce poverty and rebuild economies.
What is the World Bank?
The belief that encourages the frequent buying and replacing of goods, often linked to economic growth.
What is consumerism?
This year while known for the Lightning winning the Stanley Cup, is also the year Mr. B graduated High School.
What is 2021?
When the U.S. economy slows down, factories in other countries lose orders and workers lose jobs
What is economic interdependence?
A government cuts social programs, privatizes industries, and deregulates markets to attract foreign investment, following the ideals of these two thinkers.
Who are Hayek and Friedman?
A country imposes tariffs that limit free trade. This organization would be most critical of that action.
What is the World Trade Organization (WTO)?
A clothing company releases new styles every few weeks, encouraging people to buy more clothes and throw them away quickly.
What is fast fashion?
Mr. B played 5 different sports growing up, I wonder what they could be.
What are Hockey, Volleyball, Basketball, Track + Field and Soccer?
A government is pressured by trade partners and global institutions to keep markets open, even though the nation's people want to close the markets.
What is reduced national control over economic policy?
What is loss of independence?
What is loss of sovereignty?
During the Great Depression, governments increased spending to stimulate demand, following this economic approach.
What is Keynesian economics?
BONUS MR. B (He's full of himself)
Mr. B has a little dog named Pippa. She is old and losing her teeth. What dog breed is Pippa?
What is a yorkie (yorkshire Terrier)?
One country reduces pollution, but pollution from other countries still affects its air and oceans.
What is environmental interdependence?
Mr. Bs middle name starts with an M, what could it be...
What is Mason?