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Flashcards in ch8 vocab Deck (39):
1

global economy

international business and trade

2

trend

general direction in which something is moving

3

goods

products that can be sold

4

services

system of supplying public desire

5

resource-based economy

economy relying on extraction/processing of raw materials

6

consumer price index

measure of price changes for standard goods/services

7

business cycle

alternating periods of ups and downs in economic activity

8

economic region

an area defined by common economic activities

9

regional disparity

diff levels of income among regions

10

industrial heartland

the most developed industrialized area in Canada

11

smelter

place where ore is melted to separate metal from ore

12

tailings

waste leftover after mineral is removed during mining/smelting

13

commodity

raw material/partially processed product that can be bought/sold

14

kimberlite

rare igneous rock that can contain diamonds

15

cash crop

crop produced only for sale, usually export

16

canola

plant that produces oil

17

biofuel

fuel produced from organic matter

18

rural-urban migration

the moving of people from rural areas to cities

19

moratorium

a temporary enforced suspension of an activity

20

structural unemployment

unemployment caused by change in the economy that affect an industry/replace labour

21

demographics

population statistics that show age, income, etc

22

underemployment

employed in a job below a worker's skill or employed only part time

23

transnational

extending beyond national boundaries

24

multinational

having offices or factories in many diff countries

25

outsource

to export a job to another reign or nation where labour costs are lower

26

merge

to join companies together, usually resulting in job losses

27

bilateral

between two nations

28

NAFTA

a trilateral trade agreement between Canada, us and mexico

29

trilateral

between three nations

30

sectoral

belonging to a distinct area of economic activity

31

managed trade

trade relationship that has built in protection if one partner does not meet negotiated terms

32

brain drain

emigration of people with technical skills and knowledge to a country with greater employment opportunities

33

countervailing tariff

special tax that protects domestic products from subsidiZed foreign imports

34

anti-dumping duty

a special tariff imposed on imports being sold at unreasonably low prices

35

softwood lumber

woods such as pine and spruce that is used in building

36

continentalist

supporting further integration of the NA economies

37

fair trade

removal of trade barriers such as tariffs, quotas and regulations

38

freer trade

a trade relationship reduced its protective measures, but not entirely

39

marketing boards

an association of food producers that control the marketing/pricing of their product