Organizations
Economists
Freedom
Brave New World
Terms
Miscellaneous
100
This 1944 conference created a framework for international economic cooperation and led to the creation of the IMF and World Bank.
What is Bretton Woods?
100
This term refers to businesses and industries that are privately owned and operated for profit.
What is the private sector?
100
This involves reducing government rules and restrictions on business operations.
What is deregulation?
100
This international organization promotes French language and culture and cooperation among French-speaking nations.
What is La Francophonie?
100
This process involves removing trade barriers so that goods and services can move more freely between nations.
What is trade liberalization?
100
This is the process of transferring ownership of a business from the government to private hands.
What is privatization?
200
36. This political and economic union of European countries allows for free movement of people, goods, and services.
What is the European Union?
200
This philosopher co-wrote The Communist Manifesto and critiqued capitalism.
Who is Karl Marx?
200
This is a group of countries that have agreed to reduce or eliminate trade barriers among themselves.
What is a trading bloc?
200
These companies operate in multiple countries, often with headquarters in one nation and operations in others.
What is a TNC (Transnational Corporation)?
200
This measurement divides a country’s total economic output by its population to give an average income level.
What is GDP (per capita)?
200
This term refers to a workplace with poor conditions, low wages, and often worker exploitation.
What is a sweatshop?
300
This organization provides short-term loans and financial support to countries facing balance-of-payments problems.
What is the IMF?
300
This British economist advocated for government intervention during economic downturns to stimulate demand. He advocated saving during boom times.
Who is John Maynard Keynes?
300
This term describes a policy where countries allow goods and services to be traded across borders without tariffs or quotas.
What is free trade?
300
These classifications are used to assess a country's level of industrialization, income, and quality of life.
What are developed, developing, and least developed countries?
300
This innovation revolutionized shipping by allowing goods to be transported in standardized, sealed units.
What is containerization?
300
This economic system advocates for public ownership of the means of production and class equality.
What is communism?
400
This trade agreement links Canada, the U.S., and Mexico and was updated in 2020.
What is NAFTA/USMCA?
400
This right-wing Scottish economist is known as the father of capitalism and wrote The Wealth of Nations.
Who is Adam Smith?
400
This is a tax placed on imported goods to protect domestic industries.
What is a tariff?
400
This international organization was founded after World War II to promote peace, security, and cooperation.
What is the United Nations?
400
This business practice relocates work to another country to reduce costs.
What is outsourcing?
400
This initiative offers debt relief to the world’s poorest countries, allowing them to reallocate funds to social services.
What is HIPC (Heavily Indebted Poor Countries)?
500
This international body enforces global trade rules, settles disputes, and aims to ensure that trade flows smoothly, predictably, and freely between nations.
What is the WTO (World Trade Organization)
500
This economic model supports public ownership of some industries while allowing for private enterprise.
What is socialism?
500
This right-wing system is based on private ownership and free markets with minimal government intervention.
What is capitalism?
500
These informal alliances bring together major world economies to discuss and coordinate global economic policies.
What is the Group of 7, 8, or 20?
500
These are agricultural products grown primarily for sale rather than for local consumption.
What is a cash crop?
500
This sector includes government-run services such as education, health care, and public infrastructure.
What is the public sector?