Apex economics a global game plank essay
In order for a country to focus its production, what must there always be?
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international label of labor
The existence of a worldwide division of labor among countries enables these countries to have what?
The global economy can have specialized development because of what?
The intercontinental division of labor
Country X may have an absolute edge over Nation Y within the manufacturing of automobiles below what circumstances?
Country Times can production cars even more cheaply.
Country A would have an absolute advantage more than Country M in the production of computer systems under what circumstance?
Businesses in Region A will produce computers cheaper.
Country X would enjoy an absolute benefits in the production of clothing under what circumstance?
It is production costs for garments were the minimum
in the world
What gives a region a relative advantage?
Mainly because it gives up below others to engage in a
particular form of production
Under what circumstance would a country include a comparison advantage within the manufacturing of a certain very good?
It has a decrease opportunity price for production of
Country By would have a comparative benefit in the production of silk cotton under what circumstance?
Region X don’t have to quit a more successful
type of production to be able to grow organic cotton.
How come interdependence provide economic development?
Interdependence permits specialized production
which is more efficient.
Why do some countries dread increasing monetary interdependence?
Interdependence involves a loss of control more than
the national economy.
How come the growth of international control lead to a rising global standard of living?
Intercontinental trade enables specialization, which usually
delivers increased performance and higher
Which will of these best characterizes the flow of wealth over colonization?
There is a one-way flow of wealth in the
colonies to their colonial time masters.
What was a result of developed countries extracting assets from their groupe?
There was a one-way flow of wealth favoring the
Just how did the colonizers enjoy the colonies they controlled?
The colonizers applied the resources of their colonies
to increase their own economies.
So why do substantial tariff amounts restrict international trade?
Exchanged goods will cost more when there are high
tariffs, and this limits all their sale.
Why carry out protective tariffs lead to lowered international control?
Protective tariffs increase the value of goods and
limit the sale of these goods.
Why does lowering trade boundaries promote increased international transact?
Free trade leads to affordable prices and greater
Meet each current trend inside the global overall economy with one of its economic results
Improved interaction: Easier freelancing; Trade liberalization: Increased trade;
System development: More affordable transportation;
Industrialization: Greater productivity.
Match every current pattern with one of its economic results.
Improved interaction: Makes it easier pertaining to International businesses to operate proficiently; Trade liberalization: Provides an motivation for
countries to export more goods; Facilities development: Helps less expensive international trade;
Industrialization: Raises productivity and lowers rates.
Match each current trend in the global economic climate with the benefit it provides.
Better communication: Facilitates international transact;
Free-trade policies: Enhances the mobility of
goods and labor;
Advancement infrastructure: Minimizes distribution costs;
Industrialization: Helps developing countries.
Why does globalization give countries an incentive to lower wages for workers?
Reduced production costs help lure foreign
Why does the positive effect lead to a decrease in wages in developed countries?
Increased mobility allows makers to move careers
to lower-cost labor markets.
Why does the positive effect lead to a reduction in prices for goods and services?
Competition for careers drives down wages, which will
will help companies decrease their rates.
So why do central banks play an essential role inside the global economy?
They established each country’s monetary policies.
Why do the actions of central banks have an essential effect on a global economy?
Charge of the money supply determines just how
very much money can be bought for foreign trade.
Why do central banks play an important position in the global economy?
That they control the other currency supplies that
are used for intercontinental trade
Which of these is a gift of money from one federal government to another?
Why is international aid provided?
In order to help needy countries
Precisely what is the main aim of foreign help?
Alleviate lower income and underdevelopment
Meet each worldwide organization with its purpose.
Lender for International Settlements (BIS): Create economic stability;
International Financial Fund (IMF): Prevent
Universe Bank: Decrease poverty;
World Operate Organization (WTO): Promote cost-free
Meet each foreign organization with one of its functions.
Bank intended for International Settlements (BIS): Coordinate banking restrictions;
Worldwide Monetary Pay for (IMF): Offer short-term crisis loans;
World Financial institution: Provide long term development financial loans;
Universe Trade Corporation (WTO): Create
multilateral trade contracts.
Meet each intercontinental organization with one of its purposes.
Bank to get International Funds (BIS): Give a forum for coordinating banking regulations; Foreign Monetary Finance (IMF): Help to make economic coverage recommendations;
World Traditional bank: Promote eco friendly development; Universe Trade Corporation (WTO): Mediate and solve trade disputes.
How come the IMF impose conditionality on countries that recognize its financial loans?
The IMF wants to help fix the economies of
countries that need the help
Why does the IMF require countries that accept it is loans to adhere to its plan recommendations?
The IMF would like to help unable countries better
deal with their financial systems.
Why does the IMF impose conditions on it is loans?
To assist manage the economies of struggling
What is the key purpose of the loans of the World Financial institution?
To help countries achieve sustainable
Why does the World Financial institution charge little or no interest within the loans it makes?
It is main purpose is to enhance development, certainly not
What does the Community Bank expect will derive from the financial loans it makes to expanding countries?
An increased climate for foreign expenditure
How does the WTO help support the global economy?
By assuring that makers will have open up access
to required resources
How does the WTO enhance global free of charge trade?
Simply by creating multilateral trade contracts
What is the main target of the WTO?
To assure that international operate flows efficiently
Match each economic activity with the purposes.
World Bank loans: Remove poverty;
Foreign aid: Provide unexpected emergency relief;
Trade bar: Punish a great offending govt; Outsourcing: Lessen production costs.
Match each economical activity having its main goal.
IMF loans: Stabilize a global economy;
Foreign aid: Help needy governments;
Boycott: Effect economic decisions; Offshoring: Lessen production costs.
Meet each economic activity using its main goal.
WTO agreements: Promote free of charge trade;
Boycott: Reprimand unfair methods;
Offshoring: Reduce creation costs;
Foreign help: Help clingy governments.
Why has globalization triggered an increasing income gap between rich and poor countries?
Countries with well-established system and
productive capacities have more competitive
How come the majority of the world’s countries still left on the margins of the positive effect?
Many countries are too underdeveloped to take
advantage of the opportunities offered by
increasing intercontinental trade.
Why have not globalization gained the majority of the world’s underdeveloped countries?
Underdeveloped countries don’t have the
productive capacities necessary to take
advantage of elevating international transact.
Meet each type of country with one of its central features
Produced: High level of productive potential; Developing: Low standard of living; Underdeveloped: Little infrastructure or market; New globalizer: Rapid monetary growth
Match each kind of nation with one of its central features.
Developed: Advanced of effective capacity; Producing: Low quality lifestyle; Underdeveloped: Very little infrastructure or industry; New globalizer: Speedily increasing numbers of exports.
Match each type of country with one of its central features.
Developed: Dangerous of successful capacity; Expanding: Low quality lifestyle; Underdeveloped: Lower levels of industrial potential; New globalizer: High amounts of foreign expenditure.
What say we developing countries usually take advantage of free-trade plans?
Their industries are too poor to compete in the
What say we many developing countries gain benefit spread of free trade?
They may have weak home industries
Because the majority of developing countries have weak domestic sectors, they do not reap the benefits of what?
Why offers globalization contributed to the surge of foreign terrorism?
Globalization can bring about dislocation and
How has globalization contributed to the the latest increase in intercontinental terrorism?
The downsides of globalization influence many folks who often truly feel they have nowhere fast to turn apart from violence.
Why perform many people object to globalization?
They feel that globalization mainly will serve the
interests states at the charge of
Why don’t companies doing business in countries with repressive governments thing to the man rights abuses?
Companies using low labor costs
don’t produce trouble to get repressive governments.
Why don’t companies which often business in countries wherever human rights are violated tend to fight against these types of abuses?
They have a tendency to treatment more about a safe investment
weather than regarding human rights.
Just how has globalization helped work against man rights violations around the world?
Increased global marketing and sales communications brings these types of
abuses to the world’s attention.
Why is the positive effect potentially damaging to the environment?
Protecting environmental surroundings increases production
costs and minimizes competitiveness.
What is the main reason that globalization leads to greater global pollution?
Environmental protection is definitely expensive, and
decreases a provider’s competitiveness in the global
Why does the positive effect lead to elevating environmental harm?