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globalization
Unit 2 globalization
| Globalization | Worldwide interconnections in virtually every sphere of activity including the spread of products, technology, information, and job opportunities. Globalization can result in blurred boundaries between nations, organizations, and investors |
| globalization driver (Technology) | social media platforms that encourage cultural exchange between citizens of nation states. |
| globalization driver(Transportation) | The rise of commercial air travel allowed goods to move between countries quickly. |
| globalization driver(Connection) | Cultural trends such as music, art, clothing, and industry are connecting people more than ever. |
| Which type of globalization refers to the international movement of goods, capital, and services? | Economic |
| first stage (market entry) | companies enter new countries using business models similar to the ones deployed in their home markets. |
| second stage (product specialization) | companies transfer the full production process of a particular product to a single, low-cost location and export the goods to various consumer markets. |
| third stage (value chain disaggregation | represents the next step in the company's globalization of the supply chain infrastructure. |
| fourth stage (value chain reengineering) | companies seek to further increase their cost savings by reengineering their processes to suit local market conditions by substituting lower cost labor for capital. |
| fifth stage (creation of new markets) | is allows companies to substantially lower their sticker prices in both old and new markets and to expand demand. |
| Market Driver | market, cost, government, and competition. |
| Globalization 1.0 | This is the least desirable level of globalization to deal with due to a lack of transportation and technology options. |
| Globalization 2.0 | This stage of globalization leads to more access to delivering goods on a worldwide platform due to advances in transportation. |
| Globalization 3.0 | This is the most desirable level of globalization due to advances in technology and communication, making global interactions and transactions smoother. |
| Which factor is an element of a CAGE analysis when assessing barriers to cross-border activity? | Economics |
| Which factor of CAGE addresses differences in country size that affect barriers to globalization? | Economics |
| Which argument is used by critics who wish to discourage movement towards globalization? | It increases the wealth of the rich rather than the poor. |
| Monarchy | A single person rules until he or she dies or abdicates the throne. |
| Oligarchy | A small, elite group holds power |
| Dictatorship | A single person (or a very small group of people) holds power. |
| Democracy | Citizens organize political parties and elect leaders |
| Which type of economy is decentralized and allows firms and households to participate in global trade with minimum governmental interference? | Market |
| Market economic system | A system in which the means of production is controlled by private owners who can choose to participate in global trade is a market economic system or decentralized economic system. |
| Mixed economic system | A system in which the means of production is controlled by private owners who can choose to participate in global trade is a market economic system or decentralized economic system |
| Command economic system | A system in which all property is publicly owned and the government controls economic production is a command economic system or centralized economic system. |
| Which type of legal system is based on a code and focuses on how the law is applied to the facts? | Civil |
| Which law is based on tradition and precedent given that judicial rulings can stand as precedents for future cases? | Common |
| Which legal system can vary from community to community and is found in countries without strong formal justice systems? | Customary |
| In which legal system does a judge decide the applicable law for the case as a jury determines the facts? | Common |
| Which activity of the International Monetary Fund (IMF) impacts policymaking? | Being owned and directed by the governments of the member nations |
| What is a characteristic of the International Monetary Fund (IMF)? | The IMF is a cooperative institution and provides more effective currency exchange. |
| What was the initial purpose of the International Monetary Fund (IMF) in phase one, prior to 1973? | Regulated currency exchange between nations |
| How does the International Monetary Fund (IMF) impact international organizations and governments? | It reduces funding for social programs. |
| What is a common name for the International Bank for Reconstruction and Development? | World Bank |
| What was the first loan that the World Bank made after the end of World War II? | To France to rebuild its infrastructure |
Created by:
ltay774
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