Globalization Vocab

Front

Sending goods to another country to sell.

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export

Front

Bringing goods in from another country to sell.

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import

Front

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).

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Free Trade

Front

The development of a worldwide economy where resources flow fairly freely across borders.

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Globalization

Front

What are some negatives of globalization?

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Workers are exploited in sweatshops, Pollution and deforestation, Low wages for factory workers in Asia and Africa.

Front

What are some positives of globalization?

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Cheap sneakers and clothes, Cheap electronics, Information is easy to access and it travels quickly (internet and social media)

Front

A country that lacks the ability to logistically transport imports & exports would be concerned with which component of the international business environment?

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Infrastructure

Front

The exchange of goods and services by sale or barter driven by the need for resources.

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Trade

Front

According to CNN, the United States receives 80% of its avocados from Mexico. Mexico receives most of its auto parts from the United States. This is an example of the following.

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Interdependence

Front

A large company that has operations in more than one country.

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Multinational Corporation