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Protectionism is the practice of protecting a countries domestic industries from competition in other countries by putting taxes on its products.

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Outsourcing is obtaining goods or services from a foreign supplier.
An example is retail brands from the US hiring companies in countries like India to produce clothes so they can sell it for cheap back home.

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A subsidy is a sum of money given by the government or a public body to assist an industry or business so the price of commodities created by the industry or business remain low for competition.

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Fair trade is trade between companies in developed countries and producers where fair prices are paid to the producers.

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The primary industry is the part of the economy that is responsible for providing natural resources and raw materials so it can then be changed into items for commodities for consumers.
An example of a Primary Industry is mines, agriculture, and forestry.

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The tertiary industry is the part of the economy that is responsible for services.
Services include sales services, doctors, tech support, grocery stores, etc.

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The IMF is an international organization created to  help secure financial stability, aid international trade, promote employment and sustainable economic growth, and reduce poverty around the world.
The IMF have given loans to countries like Pakistan for financial aid.

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Economic Globalization is the global interdependence of world economies as a result of cross border trade of resources.
An iPhone is designed in California while it's created in China

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The amount of goods, product or service available and the need of buyers for it.
The iPhone X drops in supply therefore the price goes up.
There is a big supply of Bananas in a grocery store so it is sold cheap causing buyers to buy more of it.

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The Bretton Woods Agreement was an agreement signed by all allied forces in World War II creating a new system of rules, regulations and procedures to help the major economies in the world ensure their economic stability. This also caused the creation of the International Monetary Fund (IMF) and the World Bank.

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The World Bank is an international organization committed to providing finance, advice and research towards developing countries for their one goal to aid their economic advancement.
The World Bank has a location in Afghanistan to help aid them.

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The state of having a shortage of resources.
South Africa is scarce in water at the moment.

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Crown Corporations are enterprises owned by the Monarch of Canada.
An example of a crown corporation is Air Canada.

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A sweatshop is a term for a workplace that has very poor and socially unacceptable work conditions. Workplaces like these can be very dangerous and the workers are usually paid very little
A sweatshop in Bangladesh  called Rana Plaza collapsed in 2013 with a death toll of 1134. The manager of Rana Plaza was warned of the structural damage in the building but ignored it and made the garment workers in the factory work in very dangerous conditions.

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Privatization is the transfer of ownership from public ownership to private ownership.
An example is Burger King going private even though they were a public company before.

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(North American Free Trade Agreement) was an agreement between Canada, US, and Mexico liberalizing trade tariffs encouraging the exchange of resources through the three countries.
Mexico exports corn to Canada while Canada exports automotive vehicles to Mexico.

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A tariff is a tax put on imports and exports. Governments have a reason to put tariffs on exports and imports as it gains revenue and protects domestic industries from competition.
Donald Trump recently put a tariff on steel and aluminum imports.

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Sending goods or services to another country for sale and profit.
An example is Ecuador exporting bananas to countries like the US for profit and sale.

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Items varying from many things (goods or services) brought in abroad from another country.
An example is buying a car in Japan and bringing it to a place like Canada for it to be driven.

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Communism is a political theory from Karl Marx where society as a whole are equal meaning all property is publicly owned and every person works and is paid according to their personal abilities and needs.
An example as such is North Korea, it follows communist ideas through dictatorship.