Social 10-2 Unit 3 Vocabulary
Surface mining
A cheaper type of mining that can remove more minerals and is less hazardous to workers.
Subsidy
A government payment that supports a business or market
Tariff
A government tax on imports or exports from another country..
Agribusiness
A large-scale farming business
Free Trade Area of the Americas
A plan for a free trade deal between all the countries in North and South America.
Free trade
A system of trade between nations in which there are no special taxes placed on imports.
Irrigation
A way of supplying water to an area of land
EUB
Alberta Energy and Utilities Board
AGT
Alberta Government Telephones
Exclusive Economic Zone
An EEZ is a 200 mile sea zone over which a country has special rights over exploration and resources.
Bretton Woods Agreement
An economic agreement signed after World War II that created the World Bank, IMF & supported free trade.
World Bank
An economic organization that lends money to member countries during hard times or to improve infrastructure to help reduce poverty.
International Monetary Fund
An economic organization that makes sure money systems between countries run smoothly and helps members follow a budget to repay their debts.
World Trade Organization
An international organization that creates and enforces rules that control global trade between member countries.
Crown Corporation
Businesses and industries owned by the Canadian government.
Trading bloc
Countries that have signed a trade agreement to increase trade between each other.
Group of Eight
Eight developed countries that meet to discuss and direct the world economy.
EPA
Environmental Protection Agency
EU
European Union
Anti-globalization
People who believe global trade agreements have had a negative affect on the world.
Consumerism
People's drive to purchase the newest material goods.
Erosion
Process by which weathered rock and soil are moved from one place to another.
Reclaimed land
Returning the land to its original condition for reuse.
Privatization
Selling government companies and services to independently citizen owned businesses.
Arable
Suitable land for growing crops
Stewardship
The careful and responsible management of Earth and its resources.
Euro
The currency of the European Union
Free Trade Agreement
The first free trade agreement between Canada and the United States.
Exchange rate
The price at which one currency can buy another currency with both values measured against the U.S. dollar.
Ethics
The principles of right and wrong that guide an individual in making decisions
Clear-cutting
The process of cutting down all the trees in an area at once.
Deregulation
The removal of some government controls over a market
Containerization
The transporting of goods in standard-sized shipping containers on huge ships.
Ecological Ethics
Thinking about the environment from an ecological rather than a human standpoint.
TNC
Transnational Corporation
Sustainable development
Using natural resources at a rate that does not use them up to quickly.
Trade liberalization
When countries move towards freer trade with each other by reducing taxes or tariffs.
Subsidiary
a company that is completely controlled by another company
Selective cutting
cutting down only some trees in a forest and leaving a mix of tree sizes and species behind
Desalination
the removal of salt from seawater to make it usable for drinking and farming
Sweatshop
workplace where people in undeveloped countries work long hours in poor conditions for low pay.
