Question

Define the following terms:-
1. Tariff
2. Allies Powers
3. Central Powers
4. Multinational Corporations
5. Fixed Exchange Rates
6. Floating Exchange Rates
7. Silk Route
8. Bretton Woods Conference
9. G-77
10. Colonization

Answer 1

Answer:

1. tax or duty to be paid on a particular class of imports or exports.
2. Allied powers, also called Allies, those countries allied in opposition to the Central Powers
3. The Central Powers were a group of nations fighting against the Allied Powers during World War I.
4. A multinational corporation is a corporate organization that owns or controls production of goods or services in at least one country other than its home country
5. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency
6. A floating exchange rate is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events
7. The Silk Road was a network of trade routes which connected the East and West.
8. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel.
9. The Group of 77 at the United Nations is a coalition of 135 developing countries, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations
10. the action of appropriating a place or domain for one's own use.

Answer 2

Answer:

1. Tariff = Tariff is a tax or duty to be paid on a particular class of imports or exports.

2. Allies Powers = Allied powers are or nations that have joined in an alliance. More specifically, the term may refer to: Allies of World War I, member nations of the World War I Alliance.

3. Central Powers = The Central Powers were a group of nations fighting against the Allied Powers during World War I. The members included Germany, Austria-Hungary, the Ottoman Empire, Bulgaria and their territories.

4. Multinational Corporations =  A multinational corporation (MNC) has facilities and other assets in at least one country other than its home country. A multinational company generally has offices and/or factories in different countries and a centralized head office where they coordinate global management.

5. Fixed Exchange Rates = A fixed exchange rate – also known as a pegged exchange rate – is a system of currency exchange in which the value of one currency is tied to another. By pegging one currency to another, there is less fluctuation when exchanging money or trading between countries.

6. Floating Exchange Rates = A floating exchange rate is a regime where the currency price of a nation is set by the forex market based on supply and demand relative to other currencies. This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate.

7. Silk Route = The Silk Road primarily refers to the land routes connecting East Asia and Southeast Asia with South Asia, Persia, the Arabian Peninsula, East Africa and Southern Europe. The Silk Road derives its name from the lucrative trade in silk carried out along its length, beginning in the Han dynasty in China (207 BCE–220 CE).

8. Bretton Woods Conference = The Bretton Woods Conference, officially known as the United Nations Monetary and Financial Conference, was a gathering of delegates from 44 nations that met from July 1 to 22, 1944 in Bretton Woods, New Hampshire, to agree upon a series of new rules for the post-WWII international monetary system.

9. G-77 = The Group of 77 (G77) at the United Nations is a coalition of developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations.

10. Colonization = the action or process of settling among and establishing control over the indigenous people of an area.