Globalization Basics
The process by which countries, people, economies, and cultures become more connected and interdependent.
What is globalization?
An economic system where private individuals and businesses own property and make decisions based on profit.
What is capitalism?
A tax placed on imported goods to make foreign products more expensive.
What is a tariff?
The organization that helps create and enforce rules for trade between countries.
What is the WTO / World Trade Organization?
Wealth, success, or well-being, often connected to a strong economy and good quality of life.
What is prosperity?
When countries rely on each other for goods, services, resources, trade, and support.
What is interdependence?
An economic system where businesses compete with limited government control.
What is a free market economy?
A company that operates in more than one country.
What is a multinational corporation?
An international organization that gives loans and advice to countries facing financial problems.
What is the IMF / International Monetary Fund?
Using resources in a way that meets today’s needs without harming future generations.
What is sustainability?
The movement of people from one country to another to live permanently or for a long period of time.
What is immigration?
An economic system where the government makes most economic decisions and controls production.
What is a command economy?
A large company that operates across national borders and may have factories, offices, or sales in many countries.
What is a transnational corporation?
An international organization that provides loans and support for development projects, especially in poorer countries.
What is the World Bank?
Long-term success and well-being that balances economic growth, quality of life, and protection of the environment.
What is sustainable prosperity?
The spread or growth of a country, business, economy, or idea into new areas.
What is expansion?
An economic system where the government makes most economic decisions and controls production.
What is a command economy?
When a company moves jobs or production to another country, often to reduce costs.
What is outsourcing?
A group of powerful industrialized countries that meet to discuss global economic and political issues.
What is the G8?
A measure of the impact people have on the environment based on the land, water, and resources they use.
What is an ecological footprint?
A general agreement reached by a group, even if not every person fully agrees with every detail.
What is consensus?
An economic system that combines private business with some government involvement and regulation.
What is a mixed economy?
A trading approach that tries to make sure producers in developing countries receive fair pay and work under better conditions.
What is fair trade?
An international organization that works to protect human rights around the world.
What is Amnesty International?
A movement or viewpoint that criticizes globalization because of concerns about inequality, exploitation, culture, or the environment.
What is anti-globalization?