Chapter 11 Key Terms Quiz 2

A nonmonetary restriction on trade, such as quotas, technical specifications, or lengthy quarantine and inspection procedures.

Assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributed as subventions in an industry to prevent the decline of that industry or an increase in the prices of its products or simply to encourage it to hire more labor.

A UN organization established in 1964 and currently consisting of all UN members plus the Holy See, Switzerland, and Tonga that holds quadrennial meetings aimed at promoting international trade and economic development.

Using tariffs or nontariff barriers, such as quotas or subsidies, to protect a domestic economic sector from competition from imported goods or services.

In 2000, 189 nations made and committed to eight global goals aimed at poverty reduction, education, public health, and human rights. This pledge encompassed eight specific goals to achieve by 2015.

Quotas are used to create balanced (e.g., gender, race, ethnicity, region, etc.) representation within legislative bodies of national governments and can be mandated by the constitution or electoral laws.

An agency of the UN established in 1965 to provide technical assistance to stimulate economic and social development in the South. The UNDP has 48 members selected on a rotating basis from the world’s regions.

Adopted by the UN in 2015 as a roadmap for peace and prosperity for humanity and the global ecosystem now and into the future.

Often referred to as foreign aid, ODA refers to concessional financial flows from the Global North to the Global South. It can take the form of grants or loans with interest rates below normal market rates (thus, it is considered concessional and not commercially driven).