IN7.3 Globalization

The exchange of goods and services by sale or barter driven by the need for resources.

• Fair Trade

• Globalization

• Trade

• Standard of Living

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).

• Free Trade

• Trade

• Goods

• Supply and Demand

Increasing interdependence of nations and peoples across the globe.

• Infrastructure

• Globalization

• Interdependence

• Specialization

The exchange of goods and services by sale or barter driven by the need for resources.

• Fair Trade

• Globalization

• Trade

• Standard of Living

Sending goods to another country to sell.

• import

• export

Sending goods to another country to sell.

• import

• export

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

A period of temporary economic decline during which trade and industrial activity are reduced.

• World Bank

• Recession

• Embargo

• Pandemic

three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States

• The UN

• NAFTA

• NATO

• IMF

an official ban on trade or other commercial activity with a particular country.

• stop

• embargo

• barr

• tariff