Social 10 exam (#3)

Economic Cooperation

Countries working together economically.

Bretton Woods Agreement

Agreement creating global financial institutions.

Free Trade Agreements

Agreements reducing trade barriers.

NAFTA/CUSMA

Trade agreement between Canada, the U.S., and Mexico.

FTAA

A proposed free trade area of the Americas.

Subsidies

Government financial support for industries.

Crown Corporation

A government-owned business.

G7/G8

A group of the world's most industrialized nations.

Economic Union - EU

A group of countries sharing economic policies.

WTO

The World Trade Organization, regulating global trade.

World Bank

Provides loans to developing countries.

Trade Liberalization

Removing trade barriers.

IMF

Provides financial assistance to countries.

UN

An international organization promoting peace and cooperation.

Transnational Corporations

Companies operating in many countries.

Multinational Corporations

Large companies with operations in several countries.

Branch Plants

Foreign-owned factories.

First World/Developed World

Wealthy, industrialized countries.

Third World/Developing World

Less industrialized countries.

Global Interdependence

Countries relying on each other.

Deregulation

Reducing government controls on business.

Privatization

Selling government services to private companies.

Trading Bloc

A group of countries trading together.

Economic Development

Improving economic well-being.

Sustainable Development

Meeting needs without harming the future.

Third World Debt

Money owed by developing countries.

Foreign Aid

Financial help given to other countries.

Protectionism

Limiting imports to protect industries.

Knowledge Economies

Economies based on information and skills.

Ecological Footprint

Measure of environmental impact.

Anti-globalization

Opposition to globalization.

Protesting

Public demonstrations against globalization.

Urbanization

Growth of cities.

Stewardship

Responsible care of the environment.