Chapter 11 Concepts

Question 1

An economic regime that manages international economic relations; this includes the international Monetary fund ( IMF ), the World Bank, and the World Trade Organization ( WTO )

Answer 1

Bretton Woods System

Question 2

The purchase of assets in a country by a foreign firm

Answer 2

Foreign direct investment

Question 3

The process of expanding and intensifying linkages between states, societies, and economies

Answer 3

Globalization

Question 4

Group created by states to serve particular policy ends

Answer 4

Intergovernmental Organization

Question 5

The fundamental rules and norms that link states together and shape their relationships to one another, usually regarding some specific issues ( such as greenhouse gases or tanks

Answer 5

International Regime

Question 6

Firm that produces, distributes, and markets its goods or services in more than one country

McDonalds and Ikea could be considered Western examples of this type of thing

Answer 6

Multinational Corporation

Question 7

A national or international group, independent of any state, that pursues policy objectives and fosters public participation

Answer 7

Nongovernmental Organization

Question 8

An agreement between Canada, Mexico and the United States that liberalizes trade between the three countries, renegotiated in 2020 and replaced with the United States - Mexico - Canada agreement ( USMCA)

Answer 8

North American Free Trade Agreement ( NAFTA )

Question 9

A process by which a firm moves some of its work to a secondary business, outside the home country, that can do the work more efficiently or cheaply

Answer 9

Offshore Outsourcing

Question 10

Proposed agreement among 12 countries to liberalize trade though reduced tariffs and common regulations; abandoned by the United States in 2017

Answer 10

Trans - Pacific Partnership