midterm Flashcards
(33 cards)
it is the recognition by
organizations that business must
have a global, not local focus.
globalization
refers to a new perspective, or attitude,
about relationships with other people in
other nations.
globalization
the
expansion and intensification
of social relations and
consciousness across world
-
time and across world
-space.
globalization
refer to the creation
of the international marketplace
including the international cultural
environment where education, social
institutions, material elements are
connected and occur at different
levels.
expansion
refers to the expansion,
stretching, and acceleration of the networks
intensification
the process through
which an increasingly flow of ideas,
people, goods and services, technology
and capital leads to the integration of
economics and societies at a speed
unprecedented
globalization
globalization according
to Stoner et.al. (1995)
consists of three
interrelated factors
priximity, location, attitude
an organization of 189
countries, working to foster
global monetary cooperation,
secure financial stability,
facilitate international trade,
promote high employment
and sustainable economic
growth, and reduce poverty
around the world.
international monetary fund(imf)
refer to a country’s
preparedness for future competitive
interactions.
competitiveness
Several measures for the criterion
cost of labors in a country,
education level of a country’sworkforce
measures long distance flow
of goods, capital, and services
as well as information and
perception that accompany
market exchanges
economic globalization
measures the spread
of ideas, information,
images, and people
social globalization
measures the
diffusion of government policies in
terms of the number of embassies and
consulates in a country, membership in
international organization, likewise
participation of a counktry in United
Nations peace missions and similar
advocates.
political globalization
an index of the degree
of globalisation of 122
countries
kof index of globalization
*It relies on
households and
firms to allocate
resources.
market
Consumers decide
what goods they
desire, and firms
determine how
much is made.
market
The market system
is an economic
democracy where
people have the
option to buy
according to their
choice and budget.
market
The country or nation has broad
powers to serve the public
interest on what is appropriate
based on their judgment.
command
Consumers are free to spend their money
on what is available but government
planners make decisions about what is
produced, and therefore, what is available
command
There is little reliance on product
differentiation, advertising, and
promotion; distribution is handled by
the government to cut out
“exploitation” by intermediaries.
command
*It stems on the
principle that
there is no “pure
market or
command
allocation systems
among the world’s
economies.”
mixed
It means all market systems
have a command sector and
all command systems have
a market sector which
means they are mixed.
mixed
total income earned by the nations factors of productions, regardless of where located.
GNP
total income earned by domestically located factors of production, regardless of nationality
GDP
