Word(s) of the Day
A trading process based on the exchange of goods and introducing new resources to new lands in exchange for goods native to that particular area
What is the Grand Exchange
The Maquiladoras
What is outsourcing?
Drought in North America during the Depression led farmers to lower-than-normal crops, leading to poor production years, lower income, and loss of important topsoil.
What is natural disaster
UN
What is United Nations
I was an economist who strongly supported government involvement in a nation’s economy.
Who is John Maynard Keynes?
This took place in Berlin, where European powers met to divide up the last unclaimed territory in the world
What is the Scramble for Africa
Canadian Income Tax
What is WWI
The Great Depression, or Black Tuesday. Investors feared the stock market's fall and began to sell their shares, leading to a chain effect of selling shares and falling markets.
What is changes in investors’ confidence?
GNI
What is the Gross National Income?
I am against government involvement in a nation’s economy, especially when I saw what the Treaty of Versailles did with its reparation payments.
Who is Friedrich Hayek?
A policy the imperial controlled trade within the colony is controlled by the imperial power to benefit that particular power
What is mercantilism
The World Bank
What is the Bretton Woods Conference
Tariffs make trade more difficult between countries and interest rates often rise in times of economic prosperity.
What is government economic policy?
IMF
What is the International Monetary Fund?
I’m the man who developed capitalism and has no use for government intervention in the economy.
Who is Adam Smith?
The gap between the technologically advanced countries and those without access to that technology
What is the digital divide
The North American Free Trade Agreement
What is trade liberalization
Within Europe, during WWII, trading agreements were put on hold when nations were occupied as well as after the war, industries and facilities were destroyed by attacks.
What is war?
GATT
What is the General Agreement on Trade and Tariffs?
I tried to put an end to slavery in Britain and its colonies and died just before the law was passed.
Who is William Wilberforce?
A strategy where corporations use suppliers and services in a country with weaker regulations for labour and the environment.
What is outsourcing?
During the recent recession, oil and natural gas prices fluctuated, causing worldwide economic instability.
What is price changes for non-renewable energy?
HDI
What is the Human Development Index?
After WWI, I stepped in as leader of the USSR, being a dictator, I ruled all and made some changes to our economy.
Who is Joseph Stalin?