PRELIM CONTEMPORARY WORLD REVIEW

It involves the ever-increasing integration of these aspects between nations, regions, communities, and even seemingly isolated places.

• Globalization

• Global Economy

This is the level wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.

• Standard of living

• Quality of life

This is the degree to which a person enjoys the important possibilities of his or her life.

• Standard of living

• Quality of life

It is the period of time over which an item is developed, brought to market and eventually removed from the world market.

• Product cycle

• Product life cycle

A company considering outsourcing a service needs to look at all related expenses and possible problems from having it done overseas.

• TRUE

• FALSE

A condition characterized by severe deprivation of basic human needs including food, safe drinking water, sanitation facilities, health, shelter, education and information

• Poverty line

• Extreme Poverty

Mobilization of economic and financial cooperation, including issues related to the transfer of resources, is one of the key responsibilities of the ___________

• International Financial Institutions (IFIs)

• International Monetary Fund

High-growth companies view international markets as untapped markets full of potential.

• TRUE

• FALSE

All IFIs admit sovereign and not sovereign countries as owner-members, but all are characterized by a broad country membership, including both borrowing developing countries and developed donor countries.

• TRUE

• FALSE

Since its establishment in 1945, the __________ has been active in extensive areas including peace-keeping, arms control, and the North-South problem.

• U.N. Security Council

• United Nations