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WS Unit 6

Globalizataion

QuestionAnswer
Raw materials A material or substance used in the primary production or manufacturing of a good.
Emerging market Nations with social or business activity in the process of rapid growth and industrialization.
Economic growth Steady growth in the productive capacity of the economy (and so a growth of national income).
Technology The application of scientific knowledge for practical purposes, esp. in industry
"computer technology" "recycling technologies".
Trade The business of buying and selling commodities
Imports / exports to bring in (buy) goods from another country/to send (sell) out goods to another country.
Balance of trade the difference in value over a period of time of a country's imports and exports of merchandise.
Trend A general direction in which something is developing or changing.
G8 The countries of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. Representatives from these countries meet to discuss economic concerns.
World Trade Organization (WTO) The only global international organization dealing with the rules of trade between nations.
Created by: raiver
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