BRICS - correct answer Brazil, Russia, India, China, South Africa, abbreviation for the countries that have been going through a fast economic development since 2000.
production chain - correct answer The links that make u...
BRICS - correct answer Brazil, Russia, India, China, South Africa, abbreviation for the
countries that have been going through a fast economic development since 2000.
production chain - correct answer The links that make up the production process of
goods, from raw material to final product.
just-in-time (JIT) - correct answer The principal that goods are delivered exactly on
time. The expense of holding and storing stocks is limited by this.
WTO - correct answer International organisation that advocates free trade.
globalisation - correct answer Process in which areas in the world become more and
more connected in a number of fields (economical, cultural, social and political)
trade war - correct answer A situation in which countries are protecting their
domestic market against other countries with import restrictions.
global shift - correct answer The shift of the economic core area in the world. Often
this is defined as the shift from the edges of the Northern Atlantic Ocean to the edges of the Pacific
Ocean.
multipolarity in the global economy - correct answer An economy in which
important economic core areas are located in multiple places. This system replaces the global system of
core, semi- periphery and periphery.
trade colonialism - correct answer Time period (1500-1800) in which European
trading companies settled in newly discovered areas in Africa, Ameriva and Asia for the purpose of
trading.
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