Social 10-1 Issue 3 Sustainable Prosperity

Question 1

examples of products that result from 'manufactured demand'

Accepted Answer

bottled water

Question 2

1993 agreement between Canada, USA, Mexico to reduce subsidies, tariffs, etc

Accepted Answer

NAFTA

Question 3

result of free trade, where countries compete for industry by supplying lowest standards

Accepted Answer

race to the bottom

Question 4

created in 1995 from GATT, with countries agreeing to lower tariffs and subsidies

Accepted Answer

World Trade Organization

Question 5

being able to meet needs of the present without compromising ability of future to meet needs

Accepted Answer

sustainable prosperity

Question 6

2 or more countries reducing trade barriers such as tariffs and subsidies

Accepted Answer

trade liberalization

Question 7

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

Accepted Answer

out sourcing

Question 8

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

Accepted Answer

capitalism

Question 9

agreement by victors in WW2 which lay foundation for institutions of modern globalization

Accepted Answer

Bretton Woods Agreement

Question 10

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

Accepted Answer

International Monetary Fund

Question 11

created after WW2 to maintain international peace/security and increase social/econ cooperation

Accepted Answer

United Nations

Question 12

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

Accepted Answer

tariff

Question 13

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

Accepted Answer

foreign investment

Question 14

European countries joined after WW2 to reduce trade barriers and increase cooperation

Accepted Answer

EU

Question 15

savings that are achieved by producing, using, and buying in large quantities

Accepted Answer

economies of scale

Question 16

area of the earth's surface needed to sustain the level of resources used & waste created

Accepted Answer

ecological footprint

Question 17

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

Accepted Answer

Fair Trade

Question 18

Selling a public/gov't owned service

Accepted Answer

privatization

Question 19

Which of the following was NOT created after WW2 with the Bretton Woods Agreement?

Accepted Answer

World Trade Organization

Question 20

in 1989, 12 original countries join from Americas, Asia, Pacific to promote free trade

Accepted Answer

APEC

Question 21

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

Accepted Answer

knowledge economy

Question 22

an economic and political system with goal of eliminating class differences and inequalities

Accepted Answer

communism

Questions 22