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CONTEMPORARY WORLD > MARKET INTEGRATION > Flashcards

MARKET INTEGRATION Flashcards

1
Q

The process of unifying
separate markets into a single global marketplace.

A

Market Integration

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2
Q

Increased interconnection between national economies.

A

Market Integration

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3
Q

Driven by trade, investment, and the role of international financial institutions.

A

Market Integration

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4
Q

Stabilizes international exchange rates and facilitates global monetary cooperation.

A

International Monetary Fund (IMF)

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5
Q

Provides financial and technical
assistance for development projects to reduce poverty.

A

World Bank

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6
Q

Facilitates international trade by regulating and promoting free trade agreements.

A

World Trade Organization (WTO)

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7
Q
  1. International Monetary Fund (IMF)
  2. World Bank
  3. World Trade Organization (WTO)
A

Key Institution

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8
Q

beginnings of market integration during the colonial era and industrial revolution.

A

Pre-20th Century

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9
Q

World War I and II disrupted markets, but post-WWII efforts created new global structures
(e.g., Bretton Woods).

A

Early 20th Century

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10
Q

Established IMF, World Bank, and set the foundation for global trade.

A

1944 Bretton Woods Conference

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11
Q

leading to the reduction of trade barriers and tariffs

A

Formation of GATT in 1947 (later WTO in 1995)

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12
Q

The ____ of multinational corporations and
increased cross-border investments.

A

rise

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13
Q
  1. 1944 Bretton Woods Conference
  2. Formation of GATT in 1947 (later WTO in 1995)
  3. The rise of multinational corporations and increased cross-border investments.
A

Post-WWII Integration

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14
Q

Expansion of free trade agreements (e.g., NAFTA in 1994, the European Union’s
single market).

A

Late 20th Century

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15
Q

Globalization’s acceleration with technological advancements and the digital
revolution.

A

Late 20th Century

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16
Q

Operations in multiple countries with a centralized
headquarters (e.g., Apple, Toyota).

A

Global Reach

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17
Q

Complex global supply chains that span several countries for manufacturing, sourcing, and
distribution.

A

Supply Chains

18
Q

Significant influence over global markets and the ability to shape industry trends.

A

Market Dominance

19
Q

Continuous investment in
research and development to maintain competitiveness.

A

Innovation

20
Q

Corporate social responsibility (CSR) efforts, including sustainability and ethical practices.

A

Responsibility

21
Q

Transportation: Air and sea logistics improvements.

A

Technological Advancements

22
Q

Communication: Internet, digital platforms, and global networks.

A

Technological Advancements

23
Q

Free Trade Agreements (e.g., NAFTA, TPP, EU trade policies).

A

Trade Liberalization

24
Q

Reduction of tariffs and barriers to international trade

A

Trade Liberalization

25
Q

Globalization of capital flows.

A

Financial Markets

26
Q

Role of multinational
corporations and financial
institutions.

A

Financial Markets

27
Q

Drive economies of scale, reducing costs and increasing efficiency.

A

Economic Influence

28
Q

Influence trade policies and global regulations.

A

Economic Influence

29
Q

Role in shaping labor markets and employment patterns across countries.

A

Social and Environmental Impacts

30
Q

Environmental footprint and sustainability efforts to address climate change.

A

Social and Environmental Impacts

31
Q

Unequal distribution of benefits, with wealth concentrated in developed nations and corporations.

A

Global Inequality

32
Q

Exploitation of labor in developing nations due to
differences in regulations.

A

Global Inequality

33
Q

The risk of economic instability when too reliant on global
supply chains, highlighted by the COVID-19 pandemic.

A

Economic Dependencies

34
Q

The need for better international governance to ensure fair trade practices and global economic stability.

A

Global Governance

35
Q
  1. Global Inequality
  2. Economic Dependencies
  3. Global Governance
A

Challenges of Market Integration

36
Q
  1. Economic Influence
  2. Social and Environmental Impacts
A

The Impacts of Global Corporations on
Market Integration

37
Q
  1. Technological Advancements
  2. Trade Liberalization
  3. Financial Markets
A

KEY DRIVERS MARKET INTEGRATION

38
Q
  1. Global Reach
  2. Supply Chains
  3. Market Dominance
  4. Innovation
  5. Responsibility
A

ATTRIBUTES OF GLOBAL
CORPORATIONS

39
Q

it is facilitated by international
financial institutions and driven by global corporations, has significantly shaped the global economy.

A

Market integration

40
Q
A

CONTEMPORARY WORLD (3 decks)

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