Definitions
The concept of equitable, long-term economic activity which meets the needs of the population fairly, and without the unviable use of natural resources.
Sustainable Prosperity
An intergovernmental organization aiming to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization.
The United Nations.
___________ are taxes imposed by a government of a country on imports or exports.
Tariffs.
"The working conditions are so poor and unsafe and I only earn 25 cents per day... but I must work at the ____________ in order to support my family."
Sweatshop.
Canada's Indigenous Peoples have a ____________ connection to the land.
Spiritual
A policy that does not restrict imports or exports through means such as tariffs and taxes.
Free Trade.
Consists of 7 (or 8) of the world’s most advanced economies.
The G7
If you are importing a product or service rather than producing locally, you are _____________.
Outsourcing.
Coffee, bananas and cocoa beans are all examples of _________ ________.
Cash crops.
True or False: The Indian Act makes it illegal for Canada's Indigenous Peoples to renovate their homes.
False: Canada's Indigenous Peoples are free to renovate their homes, however, many choose not to as they cannot own or sell the property, so they will never recoup the money spent on renovations.
The transfer of a business, industry, or service from public to private ownership and control.
Privatization.
USMCA.
The concept of the "invisible hand" was developed by this big thinker.
Adam Smith.
These loans, issued by the World Bank and IMF often begin as well intentioned economic boosts, but often result in the exploitation of labour in local economies of the Global South.
Structural Adjustment Programs (SAP).
The Grassy Mountain development was intended to extract the resource of ____________ from Alberta's Rocky Mountains.
Coal
A movement whose goal is to help producers in developing countries to get a fair price for their products so as to reduce poverty, provide for the ethical treatment of workers and farmers, and promote environmentally sustainable practices.
Fair trade.
The _______________ conference of 1944 saw the birth of the World Bank and IMF.
Bretton Woods Conference.
The concept of comparative advantage was developed by this big thinker.
David Ricardo.
The FairTradeCertified seal on a products packaging indicates that product meets the UNs 17 __________ ___________ goals.
Sustainable Development.
The Paris Climate Agreement is an example of environmental _______________.
Legislation
A person or company from one economy investing in a foreign economy is known as ______________.
Foreign Direct Investment (FDI).
The 8 members of the G7
Canada, USA, France, Germany, UK, Japan, Italy, EU
The concept of monetarism was developed by this big thinker.
Milton Friedman.
The social issues seen in the Global South could be solved if there was a more fair distribution of _______.
Wealth.
Choosing slower shipping when shopping online is an example of environmental _____________.
Stewardship