unit 3 - economic globalization

digital divide

the gap between people who do and do not have access to digital technology

pandemic

epidemic that spreads around the world and directs serious threat because of peoples ability to travel faster and farther

economic globalization

spread of trade, transportation, and communication system around the world in interests or promoting globally

maquiladora

________, is a company that allows factories to be largely duty free and tariff- free.

human development index

measure quality of life an UN member countries. also classify countries as developed, undeveloped, and developing. know how economic qualities affect quality of ones life

knowledge economy

individuals and businesses that use new ideas, education, and information technology for practical purposes

kyoto protocol

international treaty among industrialized nations that sets mandatory limits on green house gas emmissions

market economy

economy which government regulations are reduced to a minimum and businesses are free to make their own decisions

mixed economy

individuals are freer to make their own decisions with little inclusion of the government where resources are private property

privatization

selling of public service to private company so service is no longer owned by government

prosperity

an economic state of growth with rising profits and full employment

reparations

making amends for wrongdoing. include payments made by defeated enemy to whos territory was damaged in war

sanction

penalty, economic penalty taken to pressure government to agree on carrying out actions of followed rules

sustainability

degree to which earth is able to provide resources necessary to meet peoples needs

sustainable prosperity

practicing stewardship of environment and resources so that future generations are able to achieve prosperity

WTO(world trade organization)

1995 - increased international trade by lowering trade barriers and making trade more predictable. ensures terms of agreements are followed, settles trade, arguments between governments

GATT(general agreements on traffis and trade)

in bretton woods countries worked together to establish trade rules. led to general agreement on traffis and trade - signed in 1947. eliminate traffis and trade barriers between them

trade liberalization

UN

international monetory fund(IMF) were mapped out at Breton woods meetings, and the world bank. they were supported by UN and help expand international trade

alternative energy

energy generated in ways that do not deplete natural resources or harm the environment, by avoiding the use of fossil fuels and nuclear power

climate change

small but steady changes in average temperatures around the world

ecological footprint

area of earths surface necessary to the level of resources a person uses and the waste he or she creates

biotechnology

innovators developed antibiotics, also genetically engineered insulin, and can be produced more quickly and cheaply then older forms of this drug

cold war

conflict that never erupts into open military warfare

communism

economic and political system whose purpose is to eliminate class distinctions. everyone worked for benefiting all and help was provide if needed

consensus building

collaborative problem solving, process involving exchanging ideas, listening, and compromising to find a solution everyone can live with. everyone plays a role and all voices are heard