Economics Concepts and Definitions

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30 Questions

What is the term for a political and economic phenomenon encompassing broader areas of cooperation?

Regionalism

Which regional organization is facing challenges due to nationalism and populism?

European Union

What is the term for the movement of countries advocating for non-alignment during the Cold War?

Non-Aligned Movement (NAM)

What is the term for a regional concentration of economic flows?

Regionalization

What is the term for the United Kingdom's withdrawal from the European Union?

Brexit

What is the term for values material wealth and human-made laws?

Globalism

What has been argued by Peter Berger about the contemporary world?

It is furiously religious

Which organization has criticized the negative effects of economic globalization?

World Council of Churches

What is the term for the strict adherence to religious beliefs and practices?

Religious Fundamentalism

Who argued that modernization erodes religious practice?

Secularization Theory

What is the term for the spread of religious ideas globally?

Religious Evangelization

Who observed the correlation between religion and capitalism?

Max Weber

What is the term that refers to a state's authority over its territory and freedom from external interference?

Sovereignty

What is the term for the simultaneous occurrence of economic stagnation and inflation?

Stagflation

What was the main goal of the Concert of Europe?

To restore pre-French Revolution order

Which of the following leaders is associated with the advocacy of neoliberal policies?

Both of the above

Who is credited with promoting nationalism as a prerequisite for internationalism?

Giuseppe Mazzini

What is the term for the alliance of countries that opposed the Allied Powers during World War II?

Axis Powers

What is the term for the government spending program aimed at stimulating economic growth?

Stimulus Package

What is the term for the process of reducing trade barriers to promote free trade?

Trade Liberalization

What is the primary function of the Security Council in the United Nations?

To maintain international peace and security

What type of organization is primarily composed of member-states?

International Organization

What is the term for the practice of lowering labor and environmental standards to attract foreign investment?

Race to the Bottom

What is the term for the process of increasing interconnectedness between nations?

Internationalization

What is the term for the illegal trade of people for exploitation?

Human Trafficking

Which of the following organizations supports migrant communities?

Chinese Consolidated Benevolent Association

What is the term for the disproportionate impact of environmental problems on the poor?

Environmental Justice

What is the international agreement aimed at reducing greenhouse gas emissions?

Kyoto Protocol

Which of the following is a major contributor to environmental pollution?

Buses & Motorbikes

What is the term for the warming of the Earth's surface due to greenhouse gas emissions?

Global Warming

Test your knowledge of key economics concepts, including inflation, stagflation, neoliberalism, and more. Learn about influential figures and policies that shaped the global economy.

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