Globalization and Trade

Globalization:

• is the idea that the world’s economies have become more disconnected.

• is the idea that the world’s economies have become more interconnected.

• is the idea that the world’s economies have become less interconnected.

• is the idea that the nation's economies have become more interconnected.

the act allowing domestic consumers to buy goods and services from other countries

• Protectionism

• Free Trade

• Tariffs

• Trade Wars

the act of shielding a country's domestic industries from foreign competition

• Protectionism

• Free Trade

• Tariffs

• Trade Wars

 a tax to be paid on imports

• Protectionism

• Free Trade

• Tariffs

• Trade Wars

where each country places larger and larger tariffs on each others imports.

• Protectionism

• Free Trade

• Tariffs

• Trade Wars

To calculate Net Exports:

• X= Exports+Imports

• X= Exports+Exports

• X= Exports-Imports

• X=Imports-Imports

 Exporting more than is imported:

• Trade Deficit

• Trade War

• Trade Surplus

• Trade Exchange

Exporting less than is imported.

• Trade Deficit

• Trade War

• Trade Surplus

• Trade Exchange

When one country adopts protectionist policies toward another country, the result is often a

• Trade Deficit

• Trade War

• Trade Surplus

• Trade Exchange

In Globalization, Manufacturing companies have an incentive to move overseas to get

• Better products

• shared wealth

• cheaper labor

• cheaper products