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The conversion of a company that was originally publicly owned to privately owned. Such as Hudson's bay, Tim Horton's and so many more.

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Business owned by the government.
Such as Canada post, CBC, and a lot more.

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TNC's are business that operate in more than one country such as google, apple, McDonalds, etc...

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Goods produced in one country shipped to another by ways of trade for future consumption.
Such as Honduras exporting its banana's to the U.S. although that is due to TNC's.

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Goods and/or services from other countries enjoyed in different places.
An example of an import is avocados from Mexico enjoyed in the U.S.

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When fair wages and good working conditions are provided to those who produce the goods.
A fair trade company is Ben and Jerry's ice cream

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Factories (usually outsourced and clothing related) that pay next to nothing for very hard work in awful/dangerous conditions.
An example of a sweatshop is Rana Plaza. Rana Plaza was the place of a Joe Fresh sweatshop that collapsed due to structural failure. Workers reported it several times, but it was never looked at.

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NAFTA- North American Free Trade Agreement

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NAFTA- North American Free Trade Agreement

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An agreement between Canada, Mexico and the U.S. that reduces the tariffs between the 3 countries.In 2018 it was replaced with the USMCA, the United States Mexico Canada Agreement.
NAFTA and the USMCA are examples of a FTA, a Free Trade Agreement. So is the E.U.

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An economic system that believes in no government involvement.
A country that practices this is Switzerland.

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Shares the idea that John Keynes did. That government should provide services and programs to help the citizens.
A country that practices this system is Canada.

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An economic idea that centers on the belief that everything should be owned by the people, and all people should be equal. Live in the same places, eat the same food, for everyone.
An example of a communist government was the U.S.S.R, however there have never been any true forms of communism.

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An economic idea that believes that everything should be owned by the people.
An example of a socialist government is Venezuela.

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Did not trust in the government. Believed that they should not be involved in the economy at all.

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Believed that the "key" to a prosperous economy is government involvement.

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Properly taking care of the environment so that the resources we use now are still around for future generations.
An example is renewable resources. Making sure that we use replenished naturally resources so that everything is still around for time to come.

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Changed from GATT in 1994, contains 149 countries. It's used to promote free trade.

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A part of the U.N. Like the IMF they give out loans to HIPC's, however they are more long term loans that attempt to help the economy not just now but in the future.
An example of a loan given out by the World Bank is the loan of $500 million to Tunisia as a way to accelerate the economic recovery.

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A part of the U.N. that with the help of its members (and their money) give out short term loans to HIPC's (Highly Indebted Poor Countries).
An example of the I.M.F helping an HICP is when it attempted to help Jamaica in light of their economic disparity. In reality, it made matters worse.

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GATT- General Agreement of Tariffs and Trade

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GATT- General Agreement of Tariffs and Trade

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It was created in 1947 with the purpose to eliminate tariff barriers and make trade easier between countries.

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A meeting that took place in 1944. 44 countries met to prevent another Great Depression. As a result, (preventative measures) GATT (later turned into the WTO), the IMF, and the World Bank were created.

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A system that determines how the wealth of a country is used in terms of production, distribution and consumption of the resources.

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The movement of goods and communication system around the world as a way to increase worldwide commerce.