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100
This was a decade long world wide economic crisis causes by the 1929 stock market crash and the failure of the banking system.
What is the Great Depression
100
This is an economic strategy to limit trade
What is Protectionism
100

This is when a business or person has the resources to produce a good or service more efficiently than another business. 

What is Comparative Advantage

100
This is an attempt to create an international marketplace in which everyone has an equal opportunity to gain in the world economy.
What is Fair Trade
100
Basic facilities, services and installations needed for the functioning of a community or society, such as transportation and communications systems, water and power lines, and public institutions.
What is Infrastructure
200
AKA "The Great Recession", a global economic decline which began in 2007 and was the largest economic crisis since the world had experienced since the 1930s.
What is the Financial Crisis of 2008
200
Taxes on imported goods are known as___________.
What are Tariffs.
200
This is trade that is conducted without barriers.
What is Free Trade
200
This is a multilateral trade agreement between the US, Canada and Mexico.
What is NAFTA (North American Free Trade Agreement)
200
The measure of income within a country. It's calculated by taking the measure of all sources of income in the country and dividing it by the total population. It does not reflect the distribution or income or wealth.
What is Per Capita Income
300
Prior to the Economic Crisis of 2008, which lending practice led to the "Housing Bubble"?
What are Subprime Mortgages
300
When governments give money to certain industries so those businesses can charge lower prices, they are providing________________
What are Subsidies.
300

India, China and Brazil are industrialising, developing countries. They are also called____________________.

Emerging markets.

300
One argument for free trade is that these people (the final users of products and/or services generated within a social system) have more choice and buy cheaper goods.
What are Consumers.
300
This is an international financial institution that provides loans to developing countries for capital programs. Its goal is the reduction of poverty, and it was created at Bretton Woods along with the IMF.
What is the World Bank
400
This was a European Recovery Program--a $13 Billion American program to aid Europe after World War II.
What is the Marshall Plan
400
These are when a government sets a limit on the amount of a specific good that can be brought into the country.
What are Import Quotas.
400

Great Depression era law that raised taxes on imported goods and started an international trade war which hurt trade and caused more unemployment.

What is Smoot-Hawley Tariff Act

400

This is the already-produced durable goods that are used in production of goods or services. Big corporations move factories overseas to cheap labor nations in order to produce it.

What is Capital

400

Which Indian industry has benefited from Global Trade?

What is the Automobile Industry (Ta Ta!!)

500
Poverty is defined as lacking basic human needs and living on less than _____________ per day.
What is $1.25 (US dollars)
500

TWO Part Question: In 2004, the WTO ruled against the US when (which country) brought forth a case and said that US subsidies in this industry (?) were hurting their economy?

What are Brazil / Cotton Industry

500

Name one argument AGAINST the WTO.

What is : undercut state sovereignty, secretive, undemocratic, could undercut environmental laws, worker safety laws, product laws, helps industrialized over developing countries, doesn't care about human rights, etc...

500

Wealthy countries view trade as an alternative to this, the international transfer of capital, goods, or services from a country for the benefit of a recipient country. It can be economic, military or humanitarian.

What is Foreign Aid

500

WAEMU has goals of creating greater economic competitiveness through open markets and supporting the rule of law. Senegal became a member in 1995. What does WAEMU stand for?

What is West African Economic and Monetary Union.