Globalisation key terms!

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  • Created by: Swanteesc
  • Created on: 23-02-17 21:44
What is the WTO?
The WORLD TRADE ORGANISATION. It encourages trade between countries by ensuring that it flows predictably and freely as possible. It was established in 1945.
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What is the IMF?
International Monetary Funds. 188 countries- provide financial aid between countries. Promotes trade and high employment- to reduce world poverty.
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What does the WORLD BANK do?
Aims to reduce world poverty by providing financial aid and technical assistance to developing countries.
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What is 'deregulation'?
Removing restrictions on flow of capital.
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What are NETWORKS?
The things that link countries together. For example, transport or technology.
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What do LEDCs and MEDCs mean?
More Economically Developed Countries and Less Economically Developed Countries.
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What is the tertiary sector?
Working in services.
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What is an LIC?
Low Income Country
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What are 2 examples of players?
TNCs and the UN.
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What is a TRADE BLOC?
All the countries within the TRADE BLOC agree to trade and free movement of people between their countries. E.g. The EU.
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Who are CONSUMERS?
They buy goods and services from producers.
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What is a TRADE BALANCE?
The difference between the amount of goods and services imported and exported by a country.
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Other cards in this set

Card 2

Front

International Monetary Funds. 188 countries- provide financial aid between countries. Promotes trade and high employment- to reduce world poverty.

Back

What is the IMF?

Card 3

Front

Aims to reduce world poverty by providing financial aid and technical assistance to developing countries.

Back

Preview of the back of card 3

Card 4

Front

Removing restrictions on flow of capital.

Back

Preview of the back of card 4

Card 5

Front

The things that link countries together. For example, transport or technology.

Back

Preview of the back of card 5
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