Unit 3 Test Review SS 10-1 PDF
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Northern Lights College
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Summary
This document contains a review of important terms related to economic globalization, and includes questions on topics such as free trade, foreign investment, and the purpose of international organizations like the World Bank and International Monetary Fund.
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## Unit 3 Test Review: SS 10-1 ### Important terms: * **Economic Globalization:** How goods are produced, priced, and purchased around the world. Increased global trade * **Free-Trade:** Removing barriers so that goods and services can be moved around the world easier. * **Foreign Investment:** P...
## Unit 3 Test Review: SS 10-1 ### Important terms: * **Economic Globalization:** How goods are produced, priced, and purchased around the world. Increased global trade * **Free-Trade:** Removing barriers so that goods and services can be moved around the world easier. * **Foreign Investment:** Purchase of assets in one country by a group from another country. * **Knowledge Economy:** Businesses who conduct research, education, develop ideas, and collect info. * **Sustainability:** Things that can be produced in the future. * **Containerization:** Type of vessel that can transport goods and things through the waters. * **Economic Nationalism:** Independence (economic wise). *Interp. Political System* *I: Protectionism* * **E-Commerce:** Activities stimulated by communication Technologies. *i.e. Online Shopping* ### Questions: * What is the purpose of the World Bank? Provides loans to countries/people who are in financial need. * What is the purpose of the International Monetary Fund? Promotes financial stability. * What do NAFTA and the EU have in common? * Both are economic organizations that help countries with trade in their regions. * What is the purpose of the World Trade Organization (formerly known as General Agreement on Trade and Tariffs)? Creates rules/regulations on international trade.
