Chapter 3 Market Integration

______ of the different financial & economic institutions that facilitated the growth of the global economy

______ have been brought closer together by globalization

The Bretton Woods System focused on the reduction of barriers to trade & free flow of ______ among nations

GATT was a forum for the meeting of representatives from ____ member countries

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 ______

Neoliberalism is a general idea where WTO is based - this means that by reducing or eliminating barriers, all nations will ______

Global economy demands the states to conform to the rule of free-market ______

Neoliberalism Economics focuses on free trade & dismantling trade ______

Neoliberal economics requires a state to cooperate in the global market through the free flow of ______

States have less control over transnational social movements because they occur across countries & across ______

Human rights movements create a public sentiment, value & ______

Environmental movement is another example of global social movements that focus on ______

NAFTA lowered prices by removing ______

The rise of today's modern economy demands different sectors to work together in order to produce, distribute & exchange products & ______

The Agricultural Revolution was the 1st big economic change where people learned how to domesticate ______ & animals

The Industrial Revolution brought new economic tools like steam engines, manufacturing & mass ______

Factories popped up & changed how work functioned, instead of working at home, people began working as wage laborers & then becoming more specialized in their ______

Overall, productivity went up, standards of living rose & people had access to a wider variety of goods due to ______ production