Connections Flashcards
What are four ways that information flows create global connections?
the internet creates personal information flows - Facebook, news
TNC’s use economic information to trade and build global businesses via outsourcing
Online shopping
Migrants stay in touch with family
What are the two purposes of the OECD?
To promote policies that improve the well-being of the worlds people.
To collect data to make informed decisions and provide information
What are the three main characteristics of OECD countries?
They are wealthy countries
Some middle income countries are included
They must be willing to participate in the purposes of the OECD
What is the purpose of OPEC?
To influence oil prices
What are the two characteristics of OPEC members?
They are major producers of oil
Countries that are wealthy from petrodollars
What are five reasons countries join trade blocs?
Free trade between member states
Encourages investment from TNC’s
Benefits from common external tariff
Cheaper prices for firms in neighbouring countries
Relaxation of import/export tariffs
