Lesson 17

Question 1

What is SEATO?

Answer 1

South East Treaty Organisation

Question 2

What is the TPP - Trans Pacific Partnership?

Answer 2

Planned trade deal between 12 pacific nations

Question 3

What is the African Growth and opportunity act (AGOA)?

Answer 3

US governments trade offers duty free trade to US Markets for African countries

Question 4

What is the TPP - Trans Pacific Partnership aims?

Answer 4

Deepen economic ties to create a single market

Question 5

Benefits of being in a trade bloc? (6)

Answer 5

Free movement of people
Easier to move across borders
More trade - economically stronger
Fill jobs/skill shortages
Tariff free trade
Cheaper goods

Question 6

Drawbacks of being in a trade bloc? (4)

Answer 6

Loss of control.
Lose resources to more efficient members.
Avoids trade with non trade bloc members.
Expensive fees.

Question 7

Drawbacks to the main IGOs and Neo-liberalism? (3)

Answer 7

Benefits businesses and TNCs far more than ordinary people, and so creates inequality, i.e. a growing gap between rich and poor.
Focuses on industrialisation, trade and jobs that tend to concentrate in cities, so rural areas miss out on economic growth and development.
Focuses on profit and economic growth at the expense of the environment