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globalization
QUIZ REVIEW
13
Economics
11th Grade
12/07/2009

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Cards

Term
export
Definition
good sent to another country
Term
import
Definition
good brought in from another country
Term
trade defict
Definition
when a nation imports and they export
Term
NAFTA
Definition
between us and canada they increase trade and loss of jobs
Term
Protectionism
Definition
use of trade barriers to product industries from foreign competitions
Term
Protectionism
Definition
use of trade barriers to product industries from foreign competitions
Term
comparative advantage
Definition
nation with the lowest opportunity cost
Term
WTO
Definition

149 nations

they resolve trade disputes

negotiates and agreements with other countries

Term
10 flatners
Definition

fall of berlin wall

netscape

workflow

uploading

outsourcing

offshoring

supply chainings

in sourcing

in farming

Term
Traditional econ
Definition

who? father and son fishes

Ex: native americans

Term
Market econ
Definition

Who? the government

Ex: invidual ownership

Term
mixed econ
Definition

Ex: us and mexico

Who? countries

Term
Command econ
Definition
ex: equal distributions and complete control of factoral production
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