Social 10-1 Unit #2: Economic Globalization

a special tax added to imported goods to raise the price; done to protect local factories/jobs

purchase of buildings, equipment, resources, etc in one country by those in another country

Selling a public/gov't owned service

business/individuals who use research, education, info technologies; well educated, high paid

Trade which emphasizes worker-owned small businesses, competitive wages, unions, safety, etc

created in 1995 from GATT, with countries agreeing to lower tariffs and monitors global trade

what factor contributes most to expanding economic globalization?

reducing costs by using suppliers of products, parts and services in less developed countries

an event that has greatly shaped economic globalization as it is today

an int'l organization that helps with the $ of infrastructure growth in developing countries

agreement after WW2 which lays foundation for institutions of modern economic globalization

countries reducing trade barriers such as tariffs and subsidies

A transnational corporation is one that

an international organization that provides short-term, emergency loans to countries

an economic system in favour of free trade, competition and choice as means to prosperity