Free Market, prices are set by the market little government interference., Export Economies, Countries that mainly make products to sell abroad and earn money., Localized, Sustainable Economy, making and using things locally, sustainability , Mixed Economy, A system mixing market and command elements, Multinational Corporations:, Companies operating in many countries, usually with headquarters in one and production/sales in others., Organization of Petroleum Exporting Countries (OPEC), which controls a significant portion of the world's oil production., World Trade Organization (WTO), Global group overseeing trade to ensure smooth and predictable international business., International Monetary Fund (IMF), Group encouraging worldwide financial cooperation and stability, providing aid to nations with payment issues., Microfinance Institutions, Institutions offering financial help like loans and savings accounts to low-income people, often in developing areas, to support small businesses and better lives., Economic Growth, Increase in Gross Domestic Product (GDP), Economic Downturns, reduced production, increased unemployment recessions and depressions , Economic Development, Improving economy measured by income, education, and healthcare., Inequality, Differences in wealth, income, and resources among people , Migration, People moving from one area to another, Ethnic Diversity, Diversity of ethnic groups in a society or community., Homogenization, Making something the same, often leading to less cultural or ethnic diversity..

Globalization Terms

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