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~ Goods that are sold at a fair price to be able to help the producers in developing countries.
~ex. Ben and Jerry's ice cream

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~ a place of work in extremely poor working conditions and workers are usually paid very low wages for long hours
~ex. Walmart sweatshop that collapsed in Bangladesh in April 2013

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~predefined quantity
~ex. The Organization of Petroleum Exporting Countries (OPEC) sets a production quota for crude oil in order to control the price of crude in the international markets.

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~an amount of money (i.e. Tax) placed on a specific product in a country.
~ex. The European Union charges 54% Tax  on dairy products (imports tariffs)

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~when a company obtains goods or services from a foreign country instead of within their home country.
~ex. The clothing store H & M outsources in India to produce their clothing in order to obtain cheaper manufacturing and labor prices.

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~ a product that is made in ones home country
~ex. Syncrude Canada - a company that sells the majority of its crude to the domestic market, only gets its crude oil from the oil sands in northern Alberta, Canada.

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~ is an amount of money that one country owes to another country.
~it can also be referred to as external debt.

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~ theory that suggests that efforts in support of globalization do not promote sustainable prosperity for all affected people.

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~ goods and services being exported from one country to another.
~ex. Mexico exports Avocados to the United States

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~a corporation that is monitored/owned by a country's federal or state government. It is the opposite of privately owned corporations.
~ex. Canada Post

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~ the process of changing the ownership from the public (i.e. Government) to the private sector
~ ex. after the fall of the Soviet Union, the new Russia sold ( i.e. Privatized) its government owned industries to the public.

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~ a political and economic system where there is not total, but very strong government involvement.
~closer to center on economic spectrum than communism.
~ex. France and Italy during the 1980's

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~ a political and economic system where people do not individually own anything like land or businesses. The wealth goes to the government and dispersed to everyone equally.
~ far left on economic spectrum
~ex. Former Soviet Union and current North Korea

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~ goods and services coming into a country
~ ex. Oil coming into the United States from Saudi Arabia

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~ a trade agreement that reduced most tariffs on products and services between Canada, the United States and Mexico.

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~ a natural resource that once is used cannot be replaced
~ex. Natural gas and oil

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~Supply: the availability of goods and resources to be sold
~Demand: a society's want/need for these goods
~outside factors can also influence supply and demand
~ex. When the supply of leather jackets go up the price of these jackets goes down and vice versa.

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~ an international organization who's purpose is to reduce poverty and provide aid to developing countries through financinginfrastructure projects.

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~the use of money being earned and spent in a society.
~ ex. Canadian economy

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~ an international organization which consist of 189 member countries who provide short-term loans to countries in need of financial support. In return the countries are expected to promote fair governance and work toward financial stability.