Social 10 Unit 3

The spread of trade, transportation, and communication  systems around the world in the interest of promoting worldwide commerce

• Economic Globalization

• Economic Depression

• Historical Globalization

• Market Economy

a period of low economic activity accompanied by high levels of unemployment

• Economic Globalization

• Economic Depression

• Trade Liberalization

• Market Economy

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

• Communism

• Economic Depression

• Trade Liberalization

• Market Economy

An economic and political system whose purpose is to eliminate class distinctions.  Everyone would work for the benefit of all and would receive help as they need it

• Communism

• Economic Depression

• Trade Liberalization

• Market Economy

The act of making amends for wrongdoing. Reparations may include payments made by a defeated enemy to countries whose territory was damaged during a war

• Sanctions

• Reparations

• Trade Liberalization

• Free Trade

A process that involves countries reducing or removing trade barriers so goods and services can move around the world more freely

• Sanctions

• Reparations

• Trade Liberalization

• Free Trade

A penalty. Often an economic penalty such as a trade boycott taken to pressure a government to agree to carry out certain actions or follow certain rules

• Sanctions

• Reparations

• Consensus

• Outsourcing

General agreement

• Sanctions

• Reparations

• Consensus

• Outsourcing

A business strategy that involves reducing costs by using suppliers of products and services in countries where labour is cheaper and government regulation may be less strict

• Sanctions

• Reparations

• Shipping Country

• Outsourcing

The transporting of goods in standard-sized shipping containers

• Sanctions

• Reparations

• Shipping Country

• Containerization