Exam (elaborations)
D080 globalization
Exam of 1 pages for the course Week 8, Early Modernism_ Arts_Craft, Nouveau, Futu at Week 8, Early Modernism_ Arts_Craft, Nouveau, Futu (D080 globalization)
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D080 globalizationWhat was the economic impact of the North American Free Trade Agreement (NAFTA)?
- ANS-The shift of jobs away from low comparative advantage industries
Countries A and B participate in trade agreements that allow free trade among
participant countries. However, Country A imposed quotas on several imported products
to protect its domestic products.
What is the effect, if any, on the domestic prices of these products? - ANS-Increases
Two countries agree to open their borders to international business transactions with
one another without tariffs.
How does this affect global business? - ANS-It leads to developing free trade policies
with strategic partners.
What is globalization driven by - ANS-Economics transportation and international
cooperation
Globalization - ANS-International integration arises from the interchange of the world
view, products, ideas and other aspect of culture
What those critics say about globalization - ANS-Jobs are taken away from high cost
locations to lower cost location where employees have no benefit and pay less
Globalization Drivers - ANS-Technology, transportation, connection
Transportation driver - ANS-An organization can use many different methods of
transportation to move its inventories between the different stages in the supply chain.
Technology Drivers - ANS-The Internet gave rise to the creation of social media
platforms encourage cultural change between citizens of nation states
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