What is the name of the group discussed in class that remains completely seperate from the outside world and view their land as sacred
Who are the Koji
An economy in which government regulations are reduced to a minimum and businesses are free to make their own decisions
What is a market economy
the tension between infinite wants and finite resources.
What is scarcity
At the end of World War II, dozens of countries created this organization
What is the united nations
an international financial institution that provides loans to countries around the world for capital projects
What is the World bank
What involves opening an industry to more competition by removing government regulations.
What is Deregulation
A set of external motivators that explain people's choices.
What is Incentives
What meets the needs the present without compromising the ability of future generations to meet their own needs
What is sustainable development
The father of capitalism
Who is Adam Smith
The predecessor to the WTO
What is General agreement of Tariffs and Trades (GATT)
the sale of government owned industries and services to private businesses.
What is Privitization
Responsible management and use of land and resources so that future generations will enjoy healthy environments
What is Stewardship
Reducing barriers, such as tariffs, to trade. It encourages more trade.
What is trade liberalization
What are two things the IMF does
What is increase world trade and free markets, short term loans, examines world exchange rates
What does the world trade organization encourage?
What is countries to specialize economies in order to exchange certain items for mutual benefits with other countries