Economic Globalization
How would you describe Economic Globalization?
Does the Great Depression have a commonly agreed upon cause?
No, the Stock Market Crash of October 1929 was the first large event of The Great Depression, but not the cause.
The European Union is just a trade agreement between 27 member states in the Eurozone.
True or False?
False, the E.U is an international governmental organization, which handles issues beyond just trade.
What is containerization?
The process of transporting and shipping goods in standard sized shipping containers.
What has been your favorite part of Social Studies 10-1 so far?
Mr. Ackroyd, perhaps?
John Maynard Keynes believed that the government should be more involved with the economy.
True or False?
True
What two international organizations came from the Bretton Woods Financial Conference of 1944?
The International Monetary Fund and The World Bank
Describe the "Just-in-time" delivery and inventory system.
A system used to increase efficiency in manufacturing by not requiring the storage of parts, as parts arrive only when you need them.
What is trade liberalization?
The process of reducing barriers so that goods and services can move around the world more easily.
What is one positive memory you have with Mr. Ackroyd?
A conversation, a joke, a certain moment in class, etc.
Because as they opened up their economy to the world, they rapidly industrialized and became the worlds biggest exporter and second biggest importer.
What did British Economist John Maynard Keynes believe the result of the Treaty of Versailles would be?
That it would be a failure, and potentially leave a resentful Germany in the future once they returned to their former strength.
Name the four main factors the contribute to the expansion of globalization.
Communications Technologies, Trade, Transportation, The Media.
Define what a TNC is and given an example of one.
Transnational Corporation and McDonalds, Nike, Apple, etc.
What is Mr. Ackroyd's first name?
Devon
Where do Friedrich Hayek's beliefs regarding the economy fall on the economic spectrum?
The right side, towards individualism and capitalism.
Name the four 20th century events that we looked at that contributed to Economic Globalization.
World War 1, The Russian Revolution, The Great Depression, World War 2
Describe what the "Reshaping Patterns of Trade" refer to when talking about global trade after 1970
Developing countries are now involved in producing exports around the globe more than ever.
What is technological convergence?
The integration of seemingly unrelated technologies.
What was your favorite activity that you got to participate in while with Mr. Ackroyd?
Jigsaws, Independent Work Time, Hotel Rwanda, Take a Stand Debates, etc.
Name 5 Factors that influence Economic Globalization
War, Famine, Natural Disasters, Changes in Investors Confidence, Prices of Non-Renewable Energy, Government Policy, Economic Uncertainty, etc.
What was the Treaty of Versailles and what nations were "The Big 4" in its negotiation?
The Treaty of Versailles marked the end of the First World War, bringing reparations to Germany. France, Britain, United States and Italy were the big four.
Give one potential benefit and potential criticism of the USMCA/NAFTA.
Benefit: job creation, raising living standards, improving environmental and employment standards, etc.
Limited: Could cause jobs to leave Canada and the U.S for Mexico, could create a "race to the bottom", states lose their autonomy, etc.
Describe Communism
A new economic and political movement from the Russian Revolution where the government had complete control and involvement in all parts of society, providing for everybody's needs.
Reading Comprehension, Multiple Choice Exams, Written Exams (Position Papers/Source Analysis), Studying Skills, etc.