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☆☆☆☆☆Cards in this guide (7)
What is one of the negative effects of globalization
There is an increasing income gap between rich and poor countries, because labor jobs will be moved to the countries with the cheapest manpower.
What is one of the downsides of increasing economic interdependence
loss of control over the national economy.
Which of these is an important factor promoting increased international trade
The reduction of trade barriers
What is one effect of a price ceiling
A shortage of supply
How can the government prevent speculators from rushing into and out of a country's market and disrupting its economy
by using capital controls
When one country can produce a product more cheaply than another country can this is called
comparative advantage
Match each current trend in the global economy with one of its economic effects.
Improved communication: Easier outsourcing; Trade liberalization: Increased trade; Infrastructure development: Cheaper transportation; Industrialization: Greater productivity.
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