Globalization

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Flashcards covering key vocabulary related to globalization, protectionism, and their impacts.

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5 Terms

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Globalization

The increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and culture.

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Protectionism

An economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations.

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Tariff

A tax or duty to be paid on a particular class of imports or exports.

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NGO's (Non-Governmental Organizations)

A group of people or an organization seeking or receiving private, non governmental, or public funding whose primary objectives are to address social, political, economic, and/or environmental issues.

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Cultural Diffusion

The process whereby ideas, values, beliefs, and other aspects of culture spread from one group to another.