Global Community, Economy, and International Trade

Vocabulary study set covering global communities, economies, types of global issues, CUSMA, and Canada's import and export trade relationships.

Global community

A world that is closely connected politically, economically, and socially.

Economy

A system that decides how to use resources to give people what they need and want.

Good

A physical item.

Service

An activity or action.

Political issue

A public or governmental concern, exemplified by unfair voting laws.

Poltical issue

Unfair voting laws

Social issue

A societal problem affecting individuals and communities, exemplified by bullying and cyberbullying.

Environmental issue

A problem impacting the natural environment, exemplified by over-farmed land and plastic pollution.

Economic global issue

A worldwide financial issue, exemplified by rising prices (inflation).

Inflation

Rising prices; an example of an economic global issue.

CUSMA

A trade agreement consisting of three member countries: Canada, the USA, and Mexico.

Canadian exports

lumber, maple syrup, and wheat.

Canadian imports

, including coffee beans, clothing, and tropical fruits.

Primary Canadian imports from the USA

Cars and trucks.

Primary Canadian imports from China

Electronics and toys.

Primary Canadian imports from Mexico

Fruits and vegetables (especially in winter).

Pros of international trade

getting goods not produced locally

sharing cultures with other countries.

Cons of international trade

job loss for local people,

higher transport/shipping prices,

fewer local choices.