Globalization

The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information is the...

• Multiculturalism

• International Trade

• Globalization

• Ecommerce

The comparative advantage encouraged by the globalization, brings these effects to the society:

• Promotes economic growth

• Lowers prices of goods and services

• Makes production more efficient

• All of the above

Globalization benefits are: (Choose as many as you want)

• Limiting military conflicts

• Increases competition

• All

• Makes markets more efficient

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).

• Free Trade

• Trade

• Goods

• Supply and Demand

Products meant to satisfy the wants and needs of buyers.

• Goods

• Trade

• Commodity

• Outsourcing

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

• Domestic Corporation

• Multinational Corporation

• Foreign Corporation

• State Corporation

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

• Globalization

• Economy

• GDP

• Economic Independence

A period of temporary economic decline during which trade and industrial activity are reduced.

• World Bank

• Recession

• Embargo

• Pandemic

three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States

• The UN

• NAFTA

• NATO

• IMF

an official ban on trade or other commercial activity with a particular country.

• stop

• embargo

• barr

• tariff