Global trade involves business practices that cross
international borders. Modern business practices may include
multiple locations being used as well as telecommunication via
teleconferencing.
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Term1/16
What does greater capital mobility mean
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Definition1/16
Investment money flows freely around the world.
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Term1/16
Why does globalization lead to a reduction in wages in developed countries
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Definition1/16
Increased mobility allows producers to move jobs to lower-cost
labor markets.
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Term1/16
What pair of words best describes the purpose of using cost benefit analysis
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Definition1/16
To make decisions that maximize benefits.
Rational and Subjective.
Objective and systematic
pleasure (benefit) and pain (cost)
calculating and coherent
Rational and structured =making a list of costs and benefits
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Term1/16
Politicians approve pork barrel spending for what purpose
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Definition1/16
To win political support
🔄 Click to see term
Term1/16
How do developed countries maintain an advantage over developing countries in international trade
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Definition1/16
They maintain high tariffs on the agricultural goods that many
developing countries export.
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Term1/16
Why do globalization and increasing interdependence pose risks to the global economy
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Definition1/16
Disruptions in one place have effects else where.
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Term1/16
How might a country respond to a trade embargo
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Definition1/16
It could pursue a policy of national self-sufficiency.
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Term1/16
What is true of the majority of the worlds countries today
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Definition1/16
They are left on the margins of globalization.
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Term1/16
Why does the IMF require countries to accept economic policy recommendations along with the loans it gives
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Definition1/16
The IMF wants to fix the economies of countries that need its
help.
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Term1/16
When might a country specialize in producing a particular good
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Definition1/16
When a country has an absolute advantage in production of that
good it may specialize in producing that good.
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Term1/16
The World Bank loans developing countries money in order to do what
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Definition1/16
The World Bank loans developing countries money in order to
improve conditions in the country. It can be used for various
purposes, including education, job development, and
infrastructure.
🔄 Click to see term
Term1/16
How do people in the united states benefit from globalization
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Definition1/16
Economic growth is one way that people in the United States
benefit from globalization.
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Term1/16
How were slaves affected by the new republic
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Definition1/16
Some northern states made slavery against the law.
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Term1/16
Why don't developing countries usally benefit from free trade policies
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Definition1/16
Many developing countries do not benefit from free trade
policies, because their industries are to weak to compete in the
international market.
🔄 Click to see term
Term1/16
Match each of the global business practices with an example of its use.
🔄 Click to see definition
Definition1/16
offshoring;a u.s. car company begins making certain car parts in bangladesh;
outsourcing;a u.s. car company hires a south a south korean company to make its tires;
insourcing;a japanese car company opens a factory in the united states
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Cards in this guide (16)
Name three new business practices of global trade
Global trade involves business practices that cross
international borders. Modern business practices may include
multiple locations being used as well as telecommunication via
teleconferencing.
What does greater capital mobility mean
Investment money flows freely around the world.
Why does globalization lead to a reduction in wages in developed countries
Increased mobility allows producers to move jobs to lower-cost
labor markets.
What pair of words best describes the purpose of using cost benefit analysis
To make decisions that maximize benefits.
Rational and Subjective.
Objective and systematic
pleasure (benefit) and pain (cost)
calculating and coherent
Rational and structured =making a list of costs and benefits
Politicians approve pork barrel spending for what purpose
To win political support
How do developed countries maintain an advantage over developing countries in international trade
They maintain high tariffs on the agricultural goods that many
developing countries export.
Why do globalization and increasing interdependence pose risks to the global economy
Disruptions in one place have effects else where.
How might a country respond to a trade embargo
It could pursue a policy of national self-sufficiency.
What is true of the majority of the worlds countries today
They are left on the margins of globalization.
Why does the IMF require countries to accept economic policy recommendations along with the loans it gives
The IMF wants to fix the economies of countries that need its
help.
When might a country specialize in producing a particular good
When a country has an absolute advantage in production of that
good it may specialize in producing that good.
The World Bank loans developing countries money in order to do what
The World Bank loans developing countries money in order to
improve conditions in the country. It can be used for various
purposes, including education, job development, and
infrastructure.
How do people in the united states benefit from globalization
Economic growth is one way that people in the United States
benefit from globalization.
How were slaves affected by the new republic
Some northern states made slavery against the law.
Why don't developing countries usally benefit from free trade policies
Many developing countries do not benefit from free trade
policies, because their industries are to weak to compete in the
international market.
Match each of the global business practices with an example of its use.
offshoring;a u.s. car company begins making certain car parts in bangladesh;
outsourcing;a u.s. car company hires a south a south korean company to make its tires;
insourcing;a japanese car company opens a factory in the united states