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Globalization Vocab
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What is the Fair Trade Organization?
They set the minimum price that should be paid to producers of raw materials.
What is Fair Trade?
People who produce raw materials are paid a fair price.
What is an Emerging economy?
emerging economy is a country that has some characteristics of a developed country but does not meet all the standards yet.
What is a developed country?
countries with a lot of industrial and economic activity where people generally have high incomes.
What is a developing country?
countries with little industrial and economic activity where people generally have low incomes.
What is pollution?
Pollution is the introduction of contaminants into the natural environment that cause adverse change.
What does Deforestation mean?
the removal of a forest or stand of trees from land which is then converted to a non-forest use
Is globalization good or bad?
It is neither good nor bad, it has both pros and cons.
Where was IKEA founded?
Sweden
Explain the word Influence.
The power to have an effect on people or things.
Explain what Eco-Friendly means.
Something that does the least possible damage to the environment.
What is a dry port?
A transport center where goods are loaded and unloaded that is not near water.
What is the infrastructure of a country?
Roads, Railways, Bridges, Electricity and Water
What did the silk road connect?
Europe and China
What is an imported product?
A product that comes from another country.
What stage of production is a warehouse used in?
Manufacturing.
What will a country need to do if their natural resources are used up?
They will have to rely on another country.
Is the amount of migrant labor expected in increase or decrease?
Increase.
What could happen to immigrants without suitable qualifications?
Their visas could be denied.
What is an outlet?
A store/shop.
What is a multinational company?
A company that operates in several countries.
What does Monopoly mean?
A company that dominates their industry.
What happens to the dollar during inflation?
Its value decreases.
What does Inflation mean?
When prices increase over time.
What does Domestic mean?
Within the country.
What does Discount mean?
A reduction in price.
What does Consumption mean?
The amount of something you use, eat or drink.
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