Globalization
It's a central trend in international economy today
What is Globalization?
It's the process of tracking your product development cycle (from bean to cup)
Traceability
It's the total amount of a specific good or service that is available to consumers.
Supply
It's the management of large amounts of
money, especially by governments or large
companies.
Finances
It's the exchange of goods and services between countries
International tarde
It's the growing integration of the world in terms of politics, economics, and culture
Globalization
The term used to describe the socio-economic and developmental disparities between the more developed countries and the less developed ones
Global North-South Divide
It's the consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service
Demand
It's concerned with the maximization of individual welfare
Private finances
In this type of trading system, there are no restrictions on trade
Free trade
It's the process by which local cultures are transformed or absorbed by a dominant outside culture
Cultural homogenization
It refers to the equatorial regions of the earth
where coffee is most easily grown
Coffee Belt
It's the state in which market supply and demand balance each other
Equilibrium
It's concerned with the maximization of a
community's welfare
It happens when government actions and policies restrict international trade with the intent of protecting local businesses and jobs from foreign competition.
Protectionism
The process of adoption of elements of global culture to local cultures
Cultural heterogenization
Many countries from the Global South, particularly those within the Coffee Belt, were colonized by countries from the Global North. During the colonial era, the resources of these countries, including coffee, were extracted and exported to colonzing nations. The countries of the Global South and the Coffee Belt faced historical_________.
exploitation
It happens when the demand for a good or service is greater than the availability of the good or service
Shortage
Refers to the use of government
spending and tax policies to influence economic
conditions, especially macroeconomic conditions.
Fiscal Policy
One of the most common barriers to trade used in Protectionism we saw in class
Tariffs / Punitive tariffs
The result of the convergence of different elements of various cultures
Hybridization
These movements and organizations seek to ensure that producers in the Global South receive fair wages and are not exploited by intermediaries.
It happens when the availability of a good or service is higher than the demand
Surplus
It's a set of tools used by a nation's central bank to control the overall money supply and promote economic growth.
Monetary policy
Occurs when a country's imports exceed its exports during a given time period
Trade deficit