Global Economy
The development of the global economy
What is Globalization?
The focus on a particular activity, area, or product.
What is Specialization?
China, Ukraine and the United States, Japan and Germany
What are the major steel producers?
To trade with another country a business would have to
What is converting their money into that nation's currency?
What type of trade involves the production, purchase, and sale of goods and services throughout a country?
What is domestic trade?
A company that does business in multiple countries
What are Multinational corporations?
Builds and sustains a market economy.
What is Specialization?
3 countries that specialize in making cars
What is the US, Japan and Germany?
Countries have to pay for products and services with
What is Currency?
The process of exchanging goods and services across international boundaries is an example of what form of trade?
What is world trade?
Sony, Coca-Cola and Nike are these
What are Multinational corporations?
Medicine, office administrator, Science, Education, engineering, arts are all
What are fields of specialization?
Global competition leads to this
What are disputes?
What is Mexicos currency?
Why are some countries unable to produce desired goods?
What is not having the desired temperature or having the raw materials to produce certain goods?
The global economy is fueled by
What is International trade?
A server in a restaurant is a
How do disputes happen in free trade?
What is a nation puts tariffs on items?
Yen
What is Japans currency?
What does better transportation, telecommunications, and less trade barriers allowed countries economies to do?
What is prosper?
The exchange of goods and services between countries
What is International Trade?
Concentrating skills in a particular field or area.
What is Individual Specialization?
Protectionism and free trade are
What is two opposing points of views involved in trade disputes?
Rupees
What is Indias currency?
When businesses in another country can produce better products or services for lower prices than one country, what can take place?
What is world trade?