Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
hgapmar32
| Question | Answer |
|---|---|
| An economic development policy intended to replace imported goods with domestically produced goods as a way to spur industrialization and reduce dependence on other nations | Import Substitution Industrialization (ISI) |
| Occurs when a government’s debts exceed its tax revenues to the point that it cannot meet its loan payments | Debt Crisis |
| Marketplace where financial instruments are traded; stock markets, bond markets, and foreign exchange markets are all financial markets | Financial Market |
| An official ban on trade with a specific country or of a specific good | Trade Embargo |
| An intergovernmental organization created to coordinate and unify petroleum policies among member countries | Organization of the Petroleum Exporting Countries (OPEC) |
| Spanish acronym for the Southern Common Market, a South American customs union that includes Argentina, Brazil, Paraguay, and Uruguay as its full members | Mersocur |
| A free-trade agreement among two or more member countries, combined with a single, common external trade policy for nonmembers | Customs Union |
| Tax on imported goods and services | Tariff |
| A treaty between two or more countries that reduces tariffs and promotes foreign investment | Free-Trade Agreement |
| An international organization that regulates trade among 184 member states, providing a framework for negotiating trade agreements and resolving trade disputes | World Trade Organization (WTO) |
| An international financial organization that provides funding and expertise to promote sustainable economic growth in developing countries | World Bank |
| International organization that seeks to foster global monetary cooperation, achieve financial stability, facilitate international trade, and promote sustainable economic growth | International Monetary Fund (IMF) |
| A range of pro-market and anti-government positions on the economy, such as reducing government ownership and regulation and promoting privatization and market-based solutions | Neoliberalism |
| A firm’s relative ability to outperform other transnational corporations (TNCs) in its industry | Competitive Advantage |
| A firm with the power to coordinate and control operations in more than one country, even if it does not own those operations | Transnational Corporation (TNC) |
| A measure of how well one country’s export profile matches another country’s import profile | Complementarity |
| A country’s ability to produce one product much more efficiently than it can produce other products within its economy | Comparative Advantage |
| A nation’s ability to produce a good or service more efficiently than another nation | Absolute Advantage |
| Trade rules that restrict imports in order to protect domestic industries | Protectionism |
| A theory of trade stating that each country strives to export more than it imports in order to accumulate wealth | Mercantilism |
| A very small loan to poor people with little income or collateral intended to help them establish or expand a small business | Microloans |
| A way of documenting progress toward gender equality using measures such as relative access to education, average incomes for women versus men, and workforce participation | Gender Parity |
| A measurement of gender equality that includes the proportion of seats held by women in national parliaments, the percentage of women in economic decision-making positions, and women’s versus men’s share of earned income | Gender Empowerment Measure (GEM) |
| How a country’s total GDP is distributed among the individuals in its population | Income Distribution |
| The part of the economy that is officially recorded with the government | Formal Sector |
| The part of any economy that is not officially recorded, monitored, or taxed by the government | Informal Sector |
| A statistical measure of human achievement that combines data on life expectancy at birth, education levels, and gross national income (GNI) per capita (purchasing power parity [PPP]) population | Human Development Index (HDI) |
| A statistical measure of gender inequality that combines data on reproductive health, empowerment, and labor-market participation | Gender Inequality Index (GII) |
| Measures how much a common “basket of goods” costs locally in the currency of each country being compared | Purchasing Power Parity (PPP) |
| A country’s GDP divided by its total population | GDP Per Capita |
| The total income of a country’s residents and businesses, including investment income, regardless of where it was earned, as well as money received from abroad such as foreign investment and development aid | Gross National Income (GNI) |
| The total value of all goods and services produced within a country over a specific period, regardless of the producer’s national origin | Gross Domestic Product (GDP) |
| The total value of all the goods and services made by a country’s residents and businesses in a specific time period regardless of the country or location in which they were made | Gross National Product (GNP) |
| Occurs when commodities account for more than 60 percent of the value of a country’s total exports | Commodity Dependence |
| The theory that the periphery is poor because it was economically dependent on the core in a disadvantageous relationship originally established under colonialism and imperialism | Dependency Theory |
| Wallerstein’s theory of economic development that regards world history as moving through a series of socioeconomic systems, culminating in the modern world system by about the year 1900 | World Systems Theory |
Created by:
vasundhara.varadarajan