Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GEC 103: Contemporary World > Economic Globalization > Flashcards

Economic Globalization Flashcards

1
Q

Its about how different countries and regions
have become interdependent across the
globe.

A

Economic globalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

refers to the international mobility of individuals, capital, technology, goods, and services

A

Economic Globalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Economic globalization, tells about how different countries and regions have become _____ acros the globe/

A

Interdependent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

It refers to the ___ ___ _ ___ around the world particularly through the movement of goods, services, and capital across borders.

A

increasing integration of economies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Characteristics of Global Economy

A
  • International trade
  • International finance
  • Global investment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How does global economy works?

A

International Transactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are the benefits of global economy?

A
  • Free trade
  • Increased Investment
  • Increased economies of scale
  • Movement of labor
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

is an excellent method for countries to exchange goods and services

A

free trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

it has become easier for countries to attract short-term and long-term investment

A

Increased investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The scale of specialization of goods production in most countries have lead to advantageous economic factors

A

Increased economies of scale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Advantageous factors from increased economies of scale

A
  • Lower average costs
  • lower prices for customers
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Increased migration of the labor foruces is advatageous for the recipient country as well as for the workers

A

movement of labor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Factors affecting global economy

A

Population
- Human capital
- Natural resources

Infrastructure
- Technology
- Law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

is a term that is used to identify a phenomenon in which markets of goods and services that are somehow related to one another being to experience similar patterns of increase or decrease in terms of the prices of those products

A

Market integration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Effects of integration on market development

A
  • Expand market coverage by selling local products in the global market
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

one of the major sources of financing

A

International non-profit agencies

17
Q

major sources of financing like

A

regional development banks or banks globally

18
Q

To finance productive development projects
or to promote economic development.

A

International financial institutions

19
Q

It provides much of the planning and financing for economic development projects involving billions of dollars

A

World Bank

20
Q

lends money to members having trouble meeting financial obligations to other members, but only on the condition that they undertake economic reforms

A

IMF (International Monetary Fund)

21
Q

IMF only lends money on what condition?

A
  • Undertake economic reforms
22
Q

was intended to boost economic recovery after World War II through “reconstructing and liberalizing global trade”

A

General Agreement on Tariffs and Trade (GATT)

23
Q

is a global membership group that promotes and manages free trade.

A

World Trade organization

24
Q

is generally referred to as a multinational corporation (MNC), transnational corporation (TNC), international company

A

Global Corporation

25
Q

comprise businesses operating or having business interests in more than one country, mostly headquartered in the parent country.

A

Multinational Corporations

26
Q

is “any enterprise that undertakes foreign direct investment,
- owns or controls income-gathering assets in more than one country,
- produces goods or services outside its country of origin,
- engages in international production

A

transnational corporation (TNC)

27
Q

Refers to a corporation that has assets and facilities in one or more coutries other than home country

  • HAVE a centralized office where global management is coordinated
A

Multinational

28
Q

refers to a corporation which operates in other countries other than home country

  • have NO centralized management system
A

Transnational

GEC 103: Contemporary World (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions