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unit 3 vocabulary
| Term | Definition |
|---|---|
| Economic globalization | refers to the increasing interdependence of world economies as a result of the growing scale of cross- border trade of commodities and services, flow of international capital and wide and rapid spread of technologies |
| sanctions | political and economic decisions that are part of diplomatic efforts by countries |
| Recession | a period when the economy of a country is not doing well, industrial production and business activity are at a low level, and there are many people unemployed |
| Totalitarian | a concept for a form of government or political system that prohibits opposition parties, restricts individual opposition to the state and its claims, and exercises an extremely high degree of control over public and private life. |
| Free trade | rule government doest discriminate imports or interfere with exports by puting tariffs (to imports) or subsidies (to exports). buying, selling withno limits on amount goods that country sell to other,withno taxes on the goods bought from other country |
| Tariff | a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive |
| transnational corporation | an enterprise that is involved with the international production of goods or services, foreign investments, or income and asset management in more than one country. Example: disney or macdonalds |
| Telecommunications | the means of electronic transmission of information over distances. |
| intermodal transportation | refers to transport of goods in containers that can be moved on land by rail or truck and on water by ship or barge. |
| trade liberalization | the removal or reduction of restrictions or barriers on the free exchange of goods between nations. |
| Crown corporations | are government-owned corporations that provide commercial services |
| Deregulation | is the reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry |
| Privatization | the process of transferring control and ownership (partial or total) of an enterprise, business or agency, or the production of goods and services from the public sector (government) to the private sector |
| Economic nationalism | is an ideology that favors state interventionism over other market mechanisms (The interaction of supply, demand, and prices.) |
| Comparative advantage | an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners |
| Trade bloc | nations belonging to a mutual trade pact agreeing to give each other reduced trade tariffs and other accommodations while imposing trade. |
| Subsidiary | a company under the control of a parent company |
| Head office | the central business office |
| Human capital | the knowledge, skills and talents of workers |
| Common Market | these agreements include the free trade of goods and services and the freedom to move capital and labour within the trading bloc. |
| Outsourcing | the process of a company hiring other companies to perform certain areas of production |
| Stewardship | Stewardship is a theological belief that humans are responsible for the world, and should take care and look after it |
| Sustainable Development | the idea that human societies must live and meet their needs without compromising the ability of future generations to meet their own needs. |
| Sustainability | meeting our own needs without compromising the ability of future generations to meet their own needs. |
| Conservation plans | involves the development of measures to guide long-term management of species and their habitats within the constraints posed by different types of land and resource use. |
| Equalization payments | are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services. |
| Natural Energy Policy (NEP) | the government (or any organization) addresses issues related to energy growth and usage including energy production, distribution, and consumption. |
| Genuine Progress Indicator (GPI) | A genuine progress indicator (GPI) is a metric used to measure the economic growth of a country. |
| Agribusiness | an industry engaged in the producing operations of a farm, the manufacture and distribution of farm equipment and supplies, and the processing, storage, and distribution of farm commodities. |
| Arable land | is any land capable of being ploughed and used to grow crops. |
| Organization for Economic Co-operation and Development (OECD) | is an international organisation that works to build better policies for better lives. |
| Urbanization | the process of making an area more urban. (the process of making an area more urban.) |
| Ecological footprint | The ecological footprint is a method promoted by the Global Footprint Network to measure human demand on natural capital, i.e. the quantity of nature it takes to support people or an economy. |
| Paris Climate Agreement | The agreement aims to substantially reduce global greenhouse gas emissions in an effort to limit the global temperature increase in this century to 2 degrees Celsius above pre industrial levels,while pursuing the means to limit the increase to 1.5 degrees |
Created by:
sandy hurd
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