Theme 6 - key words

Interdependence

When countries are connected to eachother economically, culturally, politically and socially and are dependant on one another

Enclave tourism

All tourist activities are held on one geographical areas

Exports

Goods that are sold to other countries

Globalisation

The free flow of goods, people, ideas and money causing the world to become increasingly inter-connected

Imports

Goods that are sold to other countries

Infrastructure

Buildings and services that are essential

Multi-national companies (MNC)

Large countries that have branches and factories in many other countries

Quotas

Limited sum of goods a country can import and export in a year

Subsidies

Grants of money paid by governments to certain industries - this can be paid in the form of reduced rates as well as money

Tariffs

Taxes that must be paid on some imports

Trade

The buying and selling of good between countries

Trade blocks

A group of countries that have an agreement to freely trade with eachother - eg European Union

NEE

New emerging economy

NIC

Newly Industrialised Country