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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