Exam (elaborations)
Chapter 1 - Globalization Detailed Questions And Expert Answers
- Course
- Globalization
- Institution
- New York University
Chapter 1 - Globalization Detailed Questions And Expert Answers
[Show more]
Content preview
Chapter 1 - Globalization Detailed QuestionsAnd Expert Answers
Globalization - ANS the trend towards a more integrated global economic system
Globalization of markets - ANS the merging of historically distinct and separate
national markets into one huge global marketplace
Globalization of production - ANS the sourcing of goods and services from
locations around the globe to take advantage of national differences in the cost
and quality of factors of production(labor energy, land, and capital)
Factors of Production - ANS labor energy, land, and capital
Role of Global Institutions - ANS 1. manage, regulate, and police the global market
place
2. promote the establishment of multinational treaties to govern the global
business system
Notable global institutions include: - ANS theWorld Trade Organization (WTO)
the International Monetary Fund (IMF)
the World Bank
the United Nations (UN)
, Two macro factors driving the move toward greater globalization: - ANS
1.declining trade and investment barriers
2.technological change
International Trade - ANS occurs when a firm exports goods or services to
consumers in another country
Foreign Direct Investment (FDI) - ANS occurs when a firm invests resources in
business activities outside its home country
How has world output and world trade changed over the last 50 years? Well, in
the 1960's... - ANS the U.S. dominated the world economy and the world trade
picture
the U.S. dominated world FDI
U.S. multinationals dominated the international business scene
about half the world--the centrally planned economies of the communist world--
was off limits to Western international business
How has the foreign direct investment picture changed over the last 50 years? -
ANS 1. The share of world output generated by developing countries has been
steadily increasing since the 1960s
2. The stock of foreign direct investment generated by rich industrial countries is
declining
3. Cross-border flows of foreign direct investment are rising
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72964 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now