Contemporary Challenges chapters 23-24 Key Terms

World Trade Organization (WTO) is...

• A military coalition focused on securing trade routes

• A regional alliance promoting economic independence

• A trade agreement between the United States and China

• An international organization that regulates global trade and resolves trade disputes

Free trade refers to...

• Trade between nations without tariffs or restrictions

• A barter system used in international markets

• A system where the government sets prices for imports and exports

• A trade system that only allows domestic goods

Containerization refers to...

• The expansion of international air travel

• The use of standardized shipping containers to improve global trade efficiency

• A strategy for reducing product packaging in exports

• A law limiting the transport of goods across borders

Protectionism is...

• A strategy to promote foreign competition in national industries

• The expansion of free markets in a global economy

• A law requiring businesses to operate internationally

• A government policy of restricting imports to protect domestic industries

Liberal democracy is...

• A government structure where only elites can vote

• A system of government that protects individual freedoms, rule of law, and fair elections

• A dictatorship that claims to support human rights

• A monarchy with limited public participation

Autarky is...

• A system of government-controlled trade

• A trade agreement between developing nations

• A financial strategy to encourage foreign investment

• A policy of economic self-sufficiency, avoiding imports

Religious Identity in the U.S. is...

• The decline of religious institutions in American culture

• The establishment of an official national religion

• The influence of religious beliefs on American political and social life

• A law requiring the separation of church and state

Outsourcing is...

• The practice of relocating business processes to foreign countries for lower costs

• A government program that provides incentives for domestic companies

• The expansion of state-owned businesses overseas

• A trade policy that prohibits foreign labor use

Homogenization of culture refers to...

• The legal preservation of cultural differences

• The rejection of foreign influences in national traditions

• The dominance of one culture, often Western, over others due to globalization

• The blending of diverse cultural traditions into one distinct national identity

Populism is...

• A system of government favoring large corporations

• A movement advocating for strict authoritarian rule

• A political approach that claims to represent the common people against elites

• A theory that argues for total free-market policies