Economic Systems & Foundations
This term refers to Adam Smith’s theory that the marketplace will naturally monitor and regulate itself if individuals act in their own self-interest.
What is the Invisible Hand?
This international organization acts as the “police force” for global trade, monitoring national policies and solving disputes.
What is the World Trade Organization / WTO?
This is a corporation with headquarters in one country and trade or manufacturing operations in several other countries.
What is a Transnational or Multinational Corporation?
This is the use of resources in a manner that allows for renewal and does not result in the scarcity or extinction of the resource.
What is sustainability?
This term refers specifically to the level of material well-being of a nation’s people, often measured by the quantity of goods available.
What is standard of living?
This economic policy, meaning "to leave alone," advocates for a system where the government does not interfere in the marketplace.
What is Laissez-faire?
This UN document, ratified by Canada in 1991, established that those under 18 have specific rights to protection and development.
What is the Convention on the Rights of the Child?
This accounting practice measures a corporation’s success based on three factors: People, Planet, and Profit.
What is the Triple Bottom Line?
The headline "G8 Summit Marked by Protest" is an example of this.
What is the anti-globalization activism ?
This is a broad measure of well-being that includes health, happiness, and human rights alongside economic wealth.
What is quality of life?
This 18th-century Scottish philosopher is credited with pioneering contemporary theories about capitalism and the benefits of a free market.
Who is Adam Smith?
The primary goal of this North American agreement (formerly NAFTA) is to achieve economic cooperation through closer trade links.
What is CUSMA?
This is the two-word term for a company's commitment to ensuring all products in its supply chain are obtained through fair labor practices.
What is Ethical Sourcing?
This term refers to the maximum population of a particular organism that a given environment can support without being damaged.
What is carrying capacity?
This international organization’s primary objectives include spearheading global health research, establishing health standards, and strengthening health systems in developing countries.
What is the World Health Organization / WHO?
This term describes a situation in which one participant's gain or loss is exactly balanced by the losses or gains of another.
What is a zero-sum game?
Established at the Bretton Woods Conference, this institution provides long-term lending to promote economic development in poorer countries.
What is the World Bank?
Henry Ford once said, “a business that makes nothing but money is a poor kind of business.” Based on this statement, what is he most supportive of?
Who is corporate social responsibility?
This is the moral and legal responsibility of taking good care of the natural world for the benefit of future generations.
What is stewardship?
"In 2004, 36.9 million people were infected with HIV worldwide. In 2006, 39.5 million people were infected with HIV worldwide. The number of new infections in 2004 was 3.9 million. The number of new infections in 2006 was 4.3 million. Two thirds of all people living with HIV live in Sub Saharan Africa. The highest increase in HIV cases was 21% between 2004 and 2006 in East/Central Asia and Eastern Europe. " Based on the above, this specific region of the world currently contains two-thirds of all people living with HIV/AIDS.
What is Sub-Saharan Africa?
This type of modern economy is based on using high technology and specialized information to produce economic benefits.
What is a knowledge economy?
This principle states that real authority comes only from written laws and constitutions that are adopted and enforced for all people.
What is the Rule of Law?
This term refers to the relocation of a specific business function, such as a factory or call center, to another country to lower costs.
What is outsourcing or off-shoring?
This perspective argues that the environment should be protected primarily so that it can continue to serve human needs and happiness.
What is utilitarianism?
This social improvement is generally considered the most effective way to empower women to achieve equality in developing countries.
What is access to education?