Global Trade & Production
This term describes the increasing connections between countries through goods, services, money, people and ideas.
What is globalization?
This is a tax placed on imported goods.
What is a tariff?
When someone moves into a new country, the movement is called this from the destination country's perspective.
What is immigration?
Unlike income, which is received over time, this is the value of a person's assets minus debts.
What is wealth?
Factory pollution damages a nearby river, but the harm is not included in the product's price. This is an example of this cost.
What is an external cost?
Farming, mining, forestry and fishing belong to this industry sector.
What is the primary sector?
This trade policy aims to reduce barriers between countries, making it easier to buy and sell internationally.
What is free trade?
Job opportunities, education and family connections are examples of these factors that attract migrants.
What are pull factors?
This measure of central tendency identifies the middle value and is less affected by extremely high incomes than the mean.
What is the median?
This 2013 garment-factory building collapse in Bangladesh killed more than 1,100 people and exposed serious workplace safety concerns.
What is Rana Plaza?
A Canadian company hires an independent company to manufacture its products. This business practice is called this.
What is outsourcing?
This trade agreement between Canada, the United States and Mexico was replaced by CUSMA in 2020.
What is NAFTA?
Money sent by a migrant to family or others in another country is called this.
What is a remittance?
A training program exists, but people cannot afford transportation to attend. They have a formal choice but lack this kind of choice.
What is effective choice?
A major canal, port or irreplaceable supplier that carries important flows in a supply chain is known as this.
What is a chokepoint?
A country can benefit from trade by producing a product at a lower opportunity cost, even if another country produces more. This is called this.
What is comparative advantage?
Under a trade agreement, these criteria determine whether goods qualify for preferential treatment based on where they were made.
What are rules of origin?
Mr. Easter's daughter's name.
What is Claire?
These small loans can help producers buy materials independently rather than relying on a controlling intermediary.
What is microcredit?
A business uses backup suppliers and alternative shipping routes so it can recover from disruptions. These actions improve its supply-chain what?
What is resilience?
A Canadian company hires an independent manufacturer in Canada, then moves that contracted production to Vietnam. Name the TWO business practices involved.
What are outsourcing and offshoring?
A country introduces import restrictions to protect its domestic manufacturing industry from foreign competition. This approach is known as this.
What is protectionism?
A Canadian company invests in and gains lasting influence over a manufacturing plant in another country. This type of investment is called this.
What is foreign direct investment (FDI)?
Coffee growers organize to negotiate better prices and process their own beans. This collective business arrangement is called this.
What is a cooperative?
A clothing brand discovers dangerous factory conditions overseas. Immediately cancelling its contract could leave hundreds unemployed. What is ONE safeguard the company could introduce while improving safety?
What is funding safety repairs while protecting workers' incomes?