Chapter 9
3 factors that effect the global economy
What is?
-Famine
-War
-Natural disaster
-Price changes for non renewable energy
-Government economic policies
-Economic uncertainty
-Changes in investors confidence
The process of reducing trade barriers so that goods and services can move around the world easily
What is?
Trade Liberalization
Define climate change
What is?
long-term shifts in temperatures and weather patterns. Since the 1800s, human activities have been the main driver of climate change, primarily due to the burning of fossil fuels
if something can last for a really long time it is
What is?
Sustainable
What is your student teachers name
Who is?
Mrs. Delisle
Representatives of Great Britain, the United States, Canada,
and other countries worked together to build an
organization that would
• support people who wanted to choose their own
government
• Help countries co-operate on trade issues
• Protect smaller countries against invasion by larger
countries
• Ensure that no single country controlled the world’s
oceans
What is?
The UN
What are two arguments against the WTO
What is?
WTO rules can impede on sovereignty of nations.
WTO does not care enough about the problems of developing
Countries.
The WTO has not done enough about the environment, child labour, workers’ rights, or health care.
Give me 5 factors that effect your Household global footprint
What is?
Amount of goods bought
Amount of packaging used
Amount and type of food eaten
Extent of recycling and waste reduction
Size of house or apartment
Amount of electricity used
Fuel efficiency of vehicles
Method of transportation and distance travelled
3 different ways to measure prosperity
What are?
-GDP
-HDI
-GNH
What type of pet does Mrs. Delisle have
What is?
1 Kitten
The _______ is in charge of monitoring
exchange rates and providing short-term
financial assistance.
What is?
The IMF
What are 3 changes from NAFTA to the USMCA
What is?
Mexico must recognize and permit the formation of unions and collective bargaining.
All 3 countries must follow the labour laws of the International Labor Organization (ILO).
Bans goods made through forced labor.
North American vehicle production was increased from 60 ish % - 75% made in NA
Canada has more access to US dairy markets
Give me 2 reasons why people would use flags of convenience
What is?
Lower costs
Ease of registration
Weak environmental and labour laws
Give me 2 arguments for and against farm subsides
What is?
positive
-cheaper food
-support for farmers to ensure stability
-rich countries can afford subsidies, which makes their products more competitive
Negative
-uses tax dollars to favour industries
-distorts the market (supply & demand)
-props up industries with little demand
Where does Mrs. Delisle work in St. paul
What is?
The movie theater
Keynes believed in
What is?
capitalism, but with:
• greater government regulation
• Increased spending in times of recession to put
people back to work.
What are 4 reasons why England wanted to leave the EU
What is ?
Sovereignty: Concerns over loss of national sovereignty to EU institutions and regulations.
Immigration: Issues related to freedom of movement within the EU and controlling immigration.
Economic Control: Desire for more control over economic policies, trade agreements, and regulations.
Cost: Disagreements over the financial contributions to the EU budget.
Political Independence: A desire to make independent political decisions without EU influence.
National Identity: Protection of national identity and culture.
Global Trade: Pursuing trade agreements outside of the EU.
When did the Paris Agreement say we would have a carbon neutral world by
What is?
after 2050 but before 2100.
What 3 thing is a knowledge economy dependent on?
What is?
growth is dependent on the quantity, quality, and accessibility of the information available.
What is Mrs. Delisle's favorite colour
What is?
Orange
Who Believed
a government should protect the
market by ensuring that its rules and laws do not interfere
with competition between businesses. He believed that
competition and the market would keep an economy
healthy, and that government should stay out of the way.
Who is?
Friedrich Hayek
Give me 4 0ut 5 of the Rules of the WTO
What is ?
Trade without discrimination
Freer trade: gradually, through negotiation
Predictability: through binding and transparency
Promoting fair competition
Encouraging development and economic reform
Give me 2 dangers of shipbuilding
What is?
-Workers are sometimes crushed to death by falling steel beams and plates
-Workers cutting torches frequently ignite trapped gasses and cause life-threatening explosions
-Grinding tools send toxic, cancer-causing particles such as asbestos into the air
What is a risk or challenge to foreign investment and what is an opportunity
What is?
Risks: If investors pull out your country could fall into massive debt,
Opportunity: get really rich, help rebuild countries, keeps us competitive
Name 3 of Mrs. Delisle's hobbies
What is?
There are to many I will just let you know if you are right