Economics
This Soviet dictator led a communist regime aimed at eliminating class distinctions through total state control.
Who is Joseph Stalin?
A tax placed on imported goods or services to reduce competition with domestic products.
What is a tariff?
This agreement created a free trade zone between Canada, the United States, and Mexico.
What is NAFTA? (or USMCA)
This term refers to the area of Earth’s surface needed to sustain a person’s resources and waste.
What is an ecological footprint?
This British economist argued that governments should intervene in the economy to ensure stability.
Who is John Maynard Keynes?
This "ization" refers to transporting goods in standard-sized metal boxes, revolutionizing global trade.
What is containerization?
These groups of countries, like the EU, work together to give one another preferential trade terms.
What are trading blocs?
Accepting responsibility for ensuring that the Earth's resources remain sustainable for the future.
What is stewardship?
These two thinkers were champions of free-market capitalism and minimal government involvement.
Who are Friedrich Hayek and Milton Friedman?
Direct financial help, such as low-interest loans or tax breaks, provided by a government to an industry.
What is a subsidy?
This organization provides short-term emergency loans and demands reforms to promote good governance
What is the International Monetary Fund (IMF)?
Development that meets present needs without compromising the ability of future generations to meet theirs.
What is sustainable development?
This is the process of selling a public service, like electricity or healthcare, to a private company.
What is privatization?
This organization emerged from GATT in 1995 to regulate trade in both goods and services.
What is the World Trade Organization (WTO)?
Its primary goals are to increase growth and reduce poverty in developing nations by funding infrastructure.
What is the World Bank?
In this agreement, 160 countries set their own individual targets for reducing carbon dioxide emissions.
What is the Paris Agreement?
This Scottish "Father of Economics" famously criticized mercantilism in his 1776 book The Wealth of Nations.
This economic theory, popular in Europe from the 16th to the 18th century, held that a nation's power depended on accumulating gold and silver by exporting more than it imported.
What is Mercantilism?