Globalization

A three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States

• The UN

• NAFTA

• NATO

• IMF

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).

• Free Trade

• Trade

• Goods

• Supply and Demand

A large company that has operations in more than one country.

• Domestic Corporation
• Multinational Corporation
• Foreign Corporation
• State Corporation

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

What are some negatives of globalization?

• Workers are exploited in sweatshops

• Pollution and deforestation

• Low wages for factory workers in Asia and Africa

• All of the answers are correct

What are some positives of globalization?

• Cheap sneakers and clothes

• Cheap electronics

• Information is easy to access and it travels quickly (internet and social media)

• All of the answers are correct

When people trade how do both sides benefit?

• Countries can focus on producing specific goods from their natural resources instead of trying to create everything they need

• Countries can take advantage of each other making the international market more secure

• Countries are able to learn the weaknesses of other countries and exploit those for natural resources

• Countries are able to enter other countries with spies and foreign agents to undermine governments.

Define import.

• To bring “merchandise” from a foreign or external source- into a place or country from another country.
• To buy/sell something: exchange something for something else.
• To carry or send- as a commodity- to some other place, such as another country.

Globalization can create problems for business because:

• It can result in more competition.

• It reduces vulnerability to political risk and uncertainty when operating abroad.

• It means that they can increase prices.

• All of the options given are correct.

Moving work outside your company is called

• outsourcing

• globalization

• downsizing

• free trade