Chapter 1- Globalization Flashcards

1
Q

What are the two aspects of Globalization?

A

Markets and Production: a shift towards a more interdepent and inegrated economy

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2
Q

What factors contribute to Market Globalization?

A

Low-cost transportation and low-cost global communications- seprate markets into one merging

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3
Q

World Trade Organization (WTO)

A
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