Global Economy Flashcards
Refer to as The World Economy
Global Economy
It is the international exchange of goods and exchange expressed in monetary units of money
Global Economy
a policy that maximizes export, and minimizes import
Mercantilism
It is exclusively limited to human economic activity and is typically judged in monetary terms
World Economy
It is a concern with the globalization of production, market, technology, organizational regimes, institutions, corporations, and labor
Economic Globalization
It happens when prices among different locations or related products follow the same pattern over a long period of time
Market Integration
An indicator to explain the relatedness of each market to one another
Market integration
reduces or eliminate trade barriers
Market Integration
remove tariffs among members of its nations
Free Trade Area
remove tariffs among non-members
Custom Union
freely exchange capital and etc.
Common Market Bloc
exchange with non-members
Economic Union
Only currency, euro
Monetary Union
it is chartered by more than one country, and therefore, subjects of international law
International Financial Institution
the owner or the shareholders is generally the national government
IFIS
