MIDTERM EXAM CONTEMPORARY WORLD

Process in which people, ideas and goods

spread throughout the world, spurring more

interaction and integration between the world's

cultures, governments and economies.

• ECONOMY

• TRADE

• IMPORT/EXPORT

• GLOBALIZATION

In 2013, the globalization was used to define ___________

• Globalize

• Borderless Society

• Corporate Giants

• Academe

In 1897, Charles Russel coined this term referring to a large national trust.

• Globalize

• Corporate Giants

• Borderless Society

• Academe

Stage of Globalization was the domestic-based company institution begins to carry out its own manufacturing marketing and sales in key foreign markets.

• Stage 1

• Stage 2

• Stage 3

• Stage 4

In this stage of globalization , the company/institution takes over these activities on its own.

• Stage 1

• Stage 2

• Stage 3

• Stage 4

In this earliest phase of globalization, contacts among hunters and

gatherers - who were spread around the world -were geographically

limited. In this period due to absence of advanced forms of

technology, globalization was severely limited.

• The Prehistoric Period (10000 BCE-3500

  BCE)

• The Pre-modern Period (3500 BCE- 1500

  CE)

• The Early Modern Period (1500-1750)

• The Modern Period (1750-1970)

In this period the invention of writing and the wheel were great social and

technological boosts that moved globalization to a new level. The invention

of wheel in addition to roads made the transportation of people and goods

more efficient. On the other hand writing facilitated the spread of ideas and

inventions.

• The Prehistoric Period (10000 BCE-3500

  BCE)

• The Pre-modern Period (3500 BCE- 1500

  CE)

• The Early Modern Period (1500-1750)

• The Modern Period (1750-1970)

Innovations in transportation and communication technology,

population explosion, and increase in migration led to more cultural

exchanges and transformation in traditional social patterns. Process of

industrialization also accelerated.

• The Prehistoric Period (10000 BCE-3500

  BCE)

• The Pre-modern Period (3500 BCE- 1500

  CE)

• The Modern Period (1750-1970)

• The Contemporary Period (from 1970 to

  present)

Keeping the state away from ownership of means of production and distribution and letting the free flow of industrial, trade and economic activity across borders.

• Privatization

• Free Trade

• Economic Activity

• Liberalization

It stands for free flow of trade relations among all the nations.

• Liberalization

• Free Trade

• Privatization

• Increased Collaborations