Podcast
Questions and Answers
______ of the different financial & economic institutions that facilitated the growth of the global economy
______ of the different financial & economic institutions that facilitated the growth of the global economy
Contributions
______ have been brought closer together by globalization
______ have been brought closer together by globalization
World Economies
The Bretton Woods System focused on the reduction of barriers to trade & free flow of ______ among nations
The Bretton Woods System focused on the reduction of barriers to trade & free flow of ______ among nations
money
GATT was a forum for the meeting of representatives from ____ member countries
GATT was a forum for the meeting of representatives from ____ member countries
Signup and view all the answers
WTO is an independent multilateral organization that became responsible for trade in services, non-tariff related barriers to trade, and other broader areas of trade ______
WTO is an independent multilateral organization that became responsible for trade in services, non-tariff related barriers to trade, and other broader areas of trade ______
Signup and view all the answers
Neoliberalism is a general idea where WTO is based - this means that by reducing or eliminating barriers, all nations will ______
Neoliberalism is a general idea where WTO is based - this means that by reducing or eliminating barriers, all nations will ______
Signup and view all the answers
Global economy demands the states to conform to the rule of free-market ______
Global economy demands the states to conform to the rule of free-market ______
Signup and view all the answers
Neoliberalism Economics focuses on free trade & dismantling trade ______
Neoliberalism Economics focuses on free trade & dismantling trade ______
Signup and view all the answers
Neoliberal economics requires a state to cooperate in the global market through the free flow of ______
Neoliberal economics requires a state to cooperate in the global market through the free flow of ______
Signup and view all the answers
States have less control over transnational social movements because they occur across countries & across ______
States have less control over transnational social movements because they occur across countries & across ______
Signup and view all the answers
Human rights movements create a public sentiment, value & ______
Human rights movements create a public sentiment, value & ______
Signup and view all the answers
Environmental movement is another example of global social movements that focus on ______
Environmental movement is another example of global social movements that focus on ______
Signup and view all the answers
NAFTA lowered prices by removing ______
NAFTA lowered prices by removing ______
Signup and view all the answers
The rise of today's modern economy demands different sectors to work together in order to produce, distribute & exchange products & ______
The rise of today's modern economy demands different sectors to work together in order to produce, distribute & exchange products & ______
Signup and view all the answers
The Agricultural Revolution was the 1st big economic change where people learned how to domesticate ______ & animals
The Agricultural Revolution was the 1st big economic change where people learned how to domesticate ______ & animals
Signup and view all the answers
The Industrial Revolution brought new economic tools like steam engines, manufacturing & mass ______
The Industrial Revolution brought new economic tools like steam engines, manufacturing & mass ______
Signup and view all the answers
Factories popped up & changed how work functioned, instead of working at home, people began working as wage laborers & then becoming more specialized in their ______
Factories popped up & changed how work functioned, instead of working at home, people began working as wage laborers & then becoming more specialized in their ______
Signup and view all the answers
Overall, productivity went up, standards of living rose & people had access to a wider variety of goods due to ______ production
Overall, productivity went up, standards of living rose & people had access to a wider variety of goods due to ______ production
Signup and view all the answers
Study Notes
Growth of Global Economy
- Various financial and economic institutions have facilitated the expansion of the global economy.
- Globalization has connected nations more closely, increasing economic interdependence.
Bretton Woods System
- Emphasized reducing trade barriers and promoting the free flow of capital among nations.
GATT and WTO
- GATT served as a platform for representatives from 128 member countries to discuss trade policies.
- WTO emerged as a multilateral organization responsible for trade in services and addressing non-tariff barriers.
- Broader areas of trade covered by WTO include intellectual property and investment issues.
Neoliberalism
- Neoliberalism promotes the idea that reducing trade barriers can benefit all nations economically.
- Advocates for free-market principles where governments must adhere to free-market regulations.
Neoliberal Economics
- Focuses on free trade and the dismantling of protective trade regulations.
- Emphasizes the state's role in cooperating within the global market through unrestricted capital movement.
Transnational Social Movements
- States have limited control over social movements that span multiple countries due to their cross-border nature.
- Movements, such as human rights advocacy, foster public sentiment and promote international values.
Environmental Movement
- Represents a global social movement addressing environmental issues, promoting sustainability, and ecological protection.
NAFTA
- The North American Free Trade Agreement led to lowered prices by eliminating trade barriers among member nations.
Modern Economy Collaboration
- The complexity of today's economy requires cooperation among different sectors for effective production, distribution, and exchange of goods.
Agricultural Revolution
- Marked the first significant economic change with the domestication of plants and animals.
Industrial Revolution
- Introduced significant innovations, such as steam engines and mass manufacturing, revolutionizing production capabilities.
Changes in Labor
- Shifted work from home-based tasks to factory environments, creating wage labor opportunities and greater specialization.
Productivity and Living Standards
- Increased productivity during these periods resulted in higher living standards and a broader range of available goods due to enhanced production methods.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Explore the contributions of various financial and economic institutions that have facilitated the growth of the global economy. Learn about the history of the global market, dynamics of multinational corporations, and the impact of international financial institutions.
