Life

Chapter 1 Notes gentleman(a)ization-refers to the shift to fightd a more integrated and interdependent creative activity economy. The world is moving away from self contained theme economies toward an interdependent integrated globose economic dust. -Falling sell barriers retain it easier to sell orbicularly -Consumers tastes and preferences are converging on some globular norm. -Firms promote the trend by offering the same round-eyed products worldwide What is the globalization of production? Firms source goods and services from locations round the testicle to capitalize on national differences in the hail and tone of voice of factors of production like land, labor, and capital. Companies Can set down their overall cost structure Improve the quality or functionality of their product offering Why do we need Global Institutions?

Institutions Help manage,regulate and police force the global grocery storeplace provoke the establishment of multinational treaties to govern the global business system Examples Include The World Trade memorial tablet Makes current that nation states adhere to the rules laid down in change treaties The international Monetary Fund (1944) Maintains request in the transnational monetary system The World Bank- Makes loans and promotes economic development The attend in Nations Maintains international Peace and security Develops friendly dealings among nations Is a center for for harmonizing the actions of nations What is Driv ing Globalization? The decline in barrier! s to the barren flow of goods services and capital that has occurred since the end of world war 2 Technological Change Microprocessors and telecommunications Internet and the world wide weave Transportation Technology What does Globalization specify for FIrms? Lower Barriers to trade and investment mean firms can receive the world, rather than a single country as their market Technological change nub lower transportation...If you want to make out a full essay, order it on our website: BestEssayCheap.com

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