test 1 chap 1&2 Flashcards
(19 cards)
what is globalization?
it refers to the shift towards a more intergraded and interdependent world economy.
what is globalization of markets?
it refers to the merging of historically distinct and separate national markets into one huge global marketplace.
what is globalization of products?
it refers to the sourcing of goods and services locations around the globe to take advantage of national differences int the costs and quality of factors of production.
BRICS
Brésil, russia, India, china
what are the factors of productions?
land, technology, labour and raw material.
G7
Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.
G20
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States, the European Union and the African Union
GATT
General Agreement on Tariffs and Trade
WTO
world trade organization
IMF
international monetary fund
world bank
to reduce poverty by lending money to the governments of its poorer members to improve their economies and to improve the standard of living of their people.
UN
United Nations
international trade
it occurs when a firms export good and services to consumer in another country.
free trade vs fair trade?
free: no tarifs and no rules
fair: fair to the supplier
multinational business (MNE)
an enterprise producing goods or delivering services in more than one country.
mini multinational business
Mini multinationals are small or medium sizes companies that are working in multiple countries.
international business
The term international business refers to any business that operates across international borders.
foreign direct investment
it occurs when a firm invest ressources in business activities outside its home country.
