What are the goals of the World Trade Organization?

Help importing and exporting business conduct their business more efficiently, with fewer barriers to trade and Improve welfare of member countries.

What are the goals of the International Monetary Fund?

1.) Promote international monetary cooperation, 2.) Promote currency exchange stability, 3.) Facilitate the expansion and balance growth of international trade, and, 4.) Support policies that foster economic growth and development, and high levels of employment around the world.

What are the goals of the World Bank?

Developing struggling governments, Institution-building, Environmental Protection, Private Business development, Macroeconomic stabilization.

Where does the World Trade Organization focus their attention?

144 of the world's trading nations

Where does the International Monetary Fund focus their attention?

On the countries experiencing short-term economic crisis such as rapid decreases in the value in their currency

Where does the World Bank focus their attention?

On the poor people in all countries

Why does the World Trading Organization exist?

To deal with the rules of trade between nations, reduce trade barriers such as tariffs and quotas, and define rules for "fair trade"

Why does the World Bank exist?

To provide financial support for global public goods that are critical for the wellbeing of the poor

Why does the International Monetary Fund exist?

To enable countries to rebuild level of international trade, stabilize their currencies, and continue paying for imports without having to impose trade restrictions or capital controls.

Unit:6-Formative #2-Int.Trade and Globalization Flashcards

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26 questions

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1.

FLASHCARD QUESTION

Front

Place the following characteristic into Protectionism or Free Trade category: An older economic policy

Back

Protectionism

2.

FLASHCARD QUESTION

Front

Place the following characteristics into Protectionism or Free Trade category: Removes taxes and tariffs on countries' exports

Back

Free Trade

3.

FLASHCARD QUESTION

Front

Place the following characteristic into Protectionism or Free Trade category: Leads to lower living standards

Back

Protectionism

4.

FLASHCARD QUESTION

Front

Place the following characteristics into Protectionism or Free Trade category: Imports are no longer restricted

Back

Free Trade

5.

FLASHCARD QUESTION

Front

Place the following characteristic into Protectionism or Free Trade category: Tries to keep country's economy free from foreign influences

Back

Protectionism

6.

FLASHCARD QUESTION

Front

Place the following characteristic into Protectionism or Free Trade category: Ensures cheapest prices for consumers

Back

Free Trade

7.

FLASHCARD QUESTION

Front

Place the following characteristic into Protectionism or Free Trade category: Makes it hard for foreign countries to do business

Back

Protectionism

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