GLOBAL ECONOMY Flashcards
(35 cards)
According to him economic
globalization refers to the free
movement of goods capital, services,
technology and information.
Mohan (2009)
What results to an increasing economic integration?
an interdependence of national, regional, and local economies around the world by strengthening the cross-border movement of goods, technologies, an
capital
Which was known to be the oldest international trade route where one of the most profitable products, silk, was transported in this network of pathways to
Europe.
Silk Road
Before the colonial era Native Filipinos were already in contact with??
Chinese and Arabs
What items were bartered before the colonial era in the Philippines?
Gold and spices of the Philippines were bartered for porcelains, silk, and perfumes.
The opening of it paved the way for European people to trade with the Asians.
Suez Canal in 1869
It implemented by the Spaniards in the Philippines from 1565 to 1815 intensified more the transfer of goods from one country to another.
The Galleon Trade
Motivated countries to search for islands that are rich with natural resources, particularly gold.
Mercantilism
The more gold the country has, in the addition to what it already possessed, the more powerful the country is.
The Mercantilism Principle
What is the use of gold in the global economy?
The value of gold was used as a common basis for currency prices and a fixed exchange rate. At present, the amount of money circulating in the country is based on how much gold reserves are stored in the government bank.
is composed of nation-states that promote voluntary cooperation and coordination among its members.
Intergovernmental Organization (IGO)
which is either global or regional, surrender their power in specific areas to the higher organization. This is an entity where member states formed for mutual benefit and in pursuit of shared goals. Decisions reached must be obeyed. There are often courts to determine when violations have occurred.
Supranational Organization
s not created by an international treaty or intergovernmental agreement and often focus on a specific issues around the world. It tries to help in alleviating the problems such as hunger, disease, illiteracy, and inequalities.
International non-governmental organization (INGO)
is another major player which consists of multinationals and transnationals.
Sells goods and manufactured products.
Large Manufacturing Corporation
one of the key economic indicators used to gauge the overall condition of the economy, refers to the amount of money available for spending and saving in every household after income taxes have been deducted.
DPI or disposable personal income,
also known as global corporation,
an entity that owns and controls production of goods or services in one or more countries aside from their home country.
The Multinational Corporation (MNC),
has international identity since they belong to a particular home country where they are headquartered.
The Multinational Corporation (MNC),
is a commercial enterprise that operates substantial facilities that does business in more than one country. Different with MNC,
Transnational corporation (TNC)
it is borderless thus, does not consider any particular country its national home.
Transnational corporation (TNC)
Each individual foreign market is given decision-making; research and development; and marketing powers by TNC.
Transnational corporation (TNC)
A company which imports and exports products only with no investment outside of the home country is merely referred to as an?
International corporation
A company which imports and exports products only with no investment outside of the home country is merely referred to as an international corporation. In other words, it has no
Foreign direct investment (FDI)
The product or service it provides is made in its___.t has no sales, staff, warehouses, or sales offices abroad.
Home country
What is the best example of Multinational corporation (TNC)?
Exotic retail shops
