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?

specialized production

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

that good.

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?

Overseas aid

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

economic entrée;

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

generate profits.

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

and freely

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

international industry.

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?

Free-trade policies

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

poor countries

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?

Environmental-protection regulations increase

compliance costs and decrease economic


Meet each practice with among the its employ

Offshoring: A U. S i9000. car company begins making certain car parts in Bangladesh;

Boycott: Buyers refuse to acquire goods coming from companies that use child labor;

Transact sanctions: The japanese imposes a 100% contract price

on cars originating from Europe plus the United


Conditionality: The IMF needs a loan

recipient to privatize its essential oil industry.

Match every single global business practice with an example of the use.

Outsourced workers: A U. S. pc company buys its memory chips via a company in Taiwan;

Boycott: A team of consumers refuses to buy apparel made in Indonesian sweatshops; Conditionality: The IMF asks a government to slice its taxes before acquiring an emergency bank loan.

Match each global business practice with one of its work with.

Embargo: America forbids its citizens coming from doing business with a government which includes ties to terrorist groups;

Insourcing: A To the south Korean car company unwraps a stock in the United States;

Conditionality: The IMF requires a government

receiving a financial loan to stability its budget

Which will of these will cause task loss in america?

Inexpensive imported televisions

Why provides globalization generated some work loss in the usa?

Labor costs are lower in other countries.

For what reason do decrease labor costs in other countries result in job damage in the United States?

It enables foreign producers to undersell home


What has been the primary benefit of the positive effect for the United States?

Economic expansion

What has been the key drawback of the positive effect for the us?

Wage reductions

Which will of these is known as a problem that globalization postures for the U. S i9000. government?

Increased security worries

All the following had been negative effects of globalization apart from what?

Larger prices for consumers

What is one reason why some individuals are crucial of globalization?

It brings about increased damage to the environment.

Which of those is a good reason that many no longer support globalization?

It just benefits a few the planet’s countries


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Topic: Global economy, Positive effect,

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