Energy Geopolitics — Glossary

A situation where a country can produce a good or service more efficiently than another country, using fewer resources.

A situation where no single state or coalition dominates others, maintaining stability through power equilibrium.

An economic principle stating that countries benefit by specializing in producing goods where they have a lower opportunity cost than others, enabling efficient trade.

An economic and political theory that explains global inequality as a result of historical exploitation and structural dependence of developing countries on developed ones.

The use of economic instruments to achieve geopolitical objectives and influence global power dynamics.

The use of economic instruments to achieve geopolitical objectives and enhance national power.

A set of proposals by developing countries in the 1970s to promote their interests through reforming global economic relations.

The responsiveness of the quantity supplied of a good to changes in its price in international markets.

Initiatives funded by the [World Bank](https://modeldiplomat.com/learn/glossary/world-bank) aimed at reducing poverty and promoting economic development in low-income countries.

A legal process resolving trade disputes between member countries to enforce WTO agreements.