Isolation

Isolation means the state of being alone. It may imply a condition of being apart from all human beings or of being cut off from one`s usual associates.

Decimate

To destroy a large number is termed as Decimate.

Dissent

To differ in opinion, especially from the majority is termed as Dissent.

Perishable

Liable to spoil or decay is termed as Perishable.

Indentured labour

Indentured labour is an employee ( indentured ) within a system of unfree labour, who is bounded by a contract ( indenture ) to work for a particular employer for a fixed period of time.

Tariff

Tariff is a type of tax or duty to be paid on a particular class of imports or exports. Such types of tax or duty is commonly known as Tariff.

Great Depression

The economic crisis period of low business activity in the U.S. and other countries, roughly beginning with the stock-market crash in 1929 and continuing through most of the 1930s. This was also known as Great Depression.

International Monetary Fund ( IMF )

The International Monetary Fund ( IMF ) is an international orginisation, created for the purpose of standardizing global financial relations and exchange rates. The IMF generally monitors the global economy, and its core goal is to economically strengthen its member countries.

World Bank

World Bank is an international financial instiitution that provides loans to developing countries for capital programs. It comprises two institutions: the international Bank for Reconstruction and Development ( IBRD ), and the International Development Association ( IDA ).

G-77

The G-77 is a loose coalition of developing nations, designed to promote its members` collective economic interests and create an enhanced joint negotiating capacity of Unitedl Nations.

NIEO

NIEO stands for The New International Economic Order.

Fixed exchange rates

Fixed exchange rate is a type of exchange rate regime where a currency`s value is fixed and under which the government or central bank ties the official exchange rate to another country`s currency or to the price of Gold.

Floating exchange rates

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 mechanism.

Globalisation

Globalisation is a process by which businesses or other organisations develop international influence or start operating on an international scale.

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