What is Economic Liberalization?
Reducing government control over the economy; a key part of Neoliberalism.
Define Free Market Mechanisms.
Letting the market run itself with less government intervention.
What are Subsidies?
Government help for specific industries.
What are Tariffs?
Taxes on imports.
Define Privatization.
Transferring ownership from the state to private companies.
What is FDI?
Foreign Direct Investment; encouraging investment from other countries.
What does GDP measure?
Gross Domestic Product; total goods and services a country produces in a year.
What is HDI?
Human Development Index; looks at living standards, health, and education.
What is the Gini Coefficient?
A measure of income inequality (0 = equal, 1 = most unequal).
Define Urban Sprawl.
Cities expanding into previously undeveloped areas.
What is the goal of reducing tariffs?
Encouraging trade and freeing up the market.
What is the goal of opening up for FDI?
To lead to economic growth and a more active global market.
What is a potential negative effect of privatization?
Cause: Privatization. Effect: Less focus on social goals.
What is a potential effect of increased FDI?
Cause: Increased FDI. Effect: Economic growth and a more active global market.
What is a potential effect of economic growth?
Cause: Economic growth. Effect: Pollution and resource depletion.
What is a potential effect of migration flows?
Cause: Migration flows. Effect: Urban sprawl.
What is a potential effect of more power to private companies?
Cause: More power to private companies. Effect: Political corruption.
What is a potential effect of disagreements over government intervention?
Cause: Disagreements over government intervention. Effect: Political division and polarization.
