GLOBALIZATION

GLOBALIZATION

1. Capitalism

   • Company or individual production rather than by the government
     • Goods, services, and capital are exchanged in a free market.

2. Developing countries

   • countries classified by the World Bank as low- or middle-income nations.

3. E-commerce

   • economic transactions that take place electronically, including Internet-based transactions and direct electronic connections

4. Homogenization

   • Making something uniform or similar.

5. International Monetary Fund (IMF)

   • international organization of 189 countries, established in 1947 with the goal of promoting cooperation and exchange between nations

6. Mercantilism

   • nations whose major mode of accumulating wealth is through merchant trading with other nations.

7. Multilateral

   • A system involving the participation of more than two countries.

8. Multinational corporation

   • A corporation that conducts business in more than one nation.

9. Offshoring

   • Transferring organizational functions to other country

10. Outsourcing

    • Transferring noncentral functions to another entity to complete

11. Protectionism

    • import and export regulations and government support for domestic production.

12. World Bank

    • A union of international organizations established in 1945 to provide aid to countries seeking to participate in international exchange and to reduce poverty around the world.

Images and files in the map