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Global Business

V4 Terms

TermDefinition
What is Globalization? Globalization is when international integration arises from the interchange of world views, products, ideas, and other aspects of culture.
The World is Flat Friedman-there are no barriers for global expansion for companies; the internet has made everything accessible
CAGE analysis Pankaj Ghemawat-although countries have been working to remove barriers, barriers still exist; culture-different cultures like different things, administration-politically similar countries are more likely to trade with one another, geography-countries are less likely to trade if they are physically far apart, economics-countries with vastly different standards of living are not likely to trade with one another
Monarchy a single person rules until he or she dies or abdicates the throne power can vary by type:absolute, constitutional, or a mix of both Constitutional: Canada, Great Britain, Japan Absolute: Saudi Arabia, Qatar
Oligarchy a small, elite group holds power status not achieved through noble ancestry Russia, Venezuela, China
Dictatorship a single person (or a very small group of people) holds power wields complete and absolute authority over a government and population North Korea, Cuba
Democracy citizens organize political parties and elect leaders leader's power organized through constitution and term limits United States
Anarchy individuals control the country no government needed
Traditional Economy centered around family everyone consumes the same goods relies on bartering no surplus
Command/Planned Economy controlled by the ruling class all resources are owned by the government Communism
Market Economy the market controls the distribution of resources minimum to no government control Capitalism
Mixed Economy the market is the major determining power partial government regulation as needed Socialism
Common Law the judge interprets the law
Civil Law the judge applies the law
Religious/Theocratic Law based on religious guidelines
Created by: mykidzrock
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