Terms
These are taxes imposed on imported goods to protect domestic industries or generate revenue for the government.
What are tariffs?
This international forum includes major economies that collaborate on global financial and economic issues.
What is the G20?
This post-World War II conference established a framework for international monetary and financial cooperation.
What is Bretton Woods?
This international organization promotes the French language and cultural cooperation among its member states.
What is La Francophonie?
This global institution provides financial and technical assistance to developing countries for infrastructure and poverty reduction.
What is the World Bank?
This policy allows goods and services to move across borders without tariffs, quotas, or other restrictions.
What is free trade?
This is financial assistance provided by the government to support businesses, industries, or individuals.
What is a subsidy?
This shipping method revolutionized global trade by using standardized containers for efficient transport.
What is containerization?
This type of corporation operates in multiple countries and has facilities or offices worldwide.
What is a multinational?
This sector consists of businesses owned and operated by individuals or companies, not the government.
What is private?
These are goods and services purchased from other countries and brought into a nation’s economy.
What are imports?
It is an organization of 193 countries that work on securing world peace. It was created after World War 2.
What is the United Nations?
This initiative aims to reduce the debt burdens of the world’s poorest nations.
What are Heavily Indebted Poor Countries?
This is a company controlled by a larger parent company, often in another country.
What is a subsidiary?
This sector includes government-operated services and organizations funded by taxpayer money.
What is public?
This type of economy prioritizes intellectual assets and innovation as key drivers of growth.
What is a knowledge economy?
This involves reducing or eliminating trade barriers to encourage international commerce.
Question: What is trade liberalization?
Question: What is trade liberalization?
This trade agreement created a trilateral trade bloc among the U.S., Canada, and Mexico.
What is NAFTA?
This economic system is based on private ownership of production and operates on market-driven principles.
What is capitalism?
This practice involves contracting out business processes to external companies, often overseas, for cost savings.
What is Outsourcing?
These are goods and services produced domestically and sold to other countries.
What are exports?
This international organization provides monetary cooperation and financial stability, especially for struggling economies.
What is the IMF?
This political and economic union includes 27 European countries that share policies on trade, immigration, and more.
What is the European Union?
This ideology advocates for a classless society where property and resources are owned collectively.
What is communism?
This organization oversees international trade rules and resolves disputes between member countries.
What is the WTO?