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The term "globalization" is commonly used to describe that local economies are becoming one global economy. Many goods and services come from all over the world.
This could be raw materials are extracted in one country, shipped to another counter where they are refined/processed , and then finally distributed into a local economy
With more competition, prices and profits are expected to decrease and inefficient firms will be forced to become efficient or close down. Globalization has many implications for people all over the world but overall economic welfare is increased for society because prices will be cheaper and more choices available.
For working in the economy, job pay will be directly tied to the amount of skill that is required to perform the job. For best results, specialize either by getting an advanced degree or learning a technical trade.
-NW
What else can I help you with?
Globalization of the economy has hurt which category of the us population?
Economy
What are the causes and implications of tribal alliances in an economy?
Having these alliances can sometimes help or harm the economy. It will depend on if the alliances are working towards their own interests or in helping the consumers.
'Globalization and the future of the Indian economy'?
potty
What are some recent articles about globalization and its impact on the economy and society?
Recent articles on globalization and its impact on the economy and society include "The Globalization Paradox: How Globalization is Affecting Income Inequality" by The Economist, "Globalization and Its Discontents: Challenges and Opportunities for Developing Countries" by The World Bank, and "The Social Impact of Globalization: A Critical Perspective" by The Journal of Economic Perspectives.
What are the implications of globalization on comparative management?
Globalization will influence change in comparative management. They are forced to have good customer service and have high quality products.
What implications does globalization have for American workers?
The implications will be different for each country in America.
Globalization of the economy has hurt which category of the us population?
Economy
What are the causes and implications of tribal alliances in an economy?
Having these alliances can sometimes help or harm the economy. It will depend on if the alliances are working towards their own interests or in helping the consumers.
'Globalization and the future of the Indian economy'?
potty
What are the Effects of globalization on Brazil economy?
nothing
What are some recent articles about globalization and its impact on the economy and society?
Recent articles on globalization and its impact on the economy and society include "The Globalization Paradox: How Globalization is Affecting Income Inequality" by The Economist, "Globalization and Its Discontents: Challenges and Opportunities for Developing Countries" by The World Bank, and "The Social Impact of Globalization: A Critical Perspective" by The Journal of Economic Perspectives.
Why do countries want FDI analyse the implications of globalization to Indian industry?
Yes
What are the implications of globalization on comparative management?
Globalization will influence change in comparative management. They are forced to have good customer service and have high quality products.
What are the key factors influencing the employment prospects of working age adults in today's economy?
The key factors influencing the employment prospects of working age adults in today's economy include technological advancements, globalization, education and skills, industry demand, and economic conditions.
What is the interdependence of the global economy generally called?
globalization
What are the Major interest groups in the world economy in globalization?
i think mulitinational companies and the nation of interest is a player in globalization
What are two significant implications of a decentralized economy on either business or education?
What are two significant implications of a decentralized economy on either business or education?
