ECONOMIC GLOBALIZATION Flashcards
refers to the international mobility of individuals, capital, technology, goods, and services. It’s also about how different countries and regions have become interdependent across the globe.
Economic globalization
It refers to the increasing integration of economies around the world particularly through the movement of
goods, services, and capital across borders.
The accumulation, importation, and exportation of goods and commodities from one country to other countries and vice-versa is best explained by the _________
economic globalization.
Characteristics of global economy
- international trade
- international finance
- global investment
How does the global economy work?
International transactions
What are the benefits of global economy?
- free trade
-increased investment - increased economies of scale
- movement of labor
Factors affecting global economy
Population
- human capital
- natural resources
Infrastructure
- technology
- law
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.
Market integration
Effect of Integration on Market Development
Market integration provides opportunity to expand market coverage by selling local products in the global market.
Netflix expands to ___ cpuntries around the world
190 countries
to describe the wide-ranging sociocultural processes by which the principles of the fast-food restaurant are coming to dominate more and more sectors of American society as well as the rest of the world.
‘McDonaldization’
Social construction, articulation and perception of meaning
Culture
homogeninzation of world under American popular culture or Western consumerism
Hyperglobalizers
intermingling of cultures and people: hybrids and new forms
Transformationalists
Modes of interaction
- imposition
- emulation
- diffusion
