Globalization

Globalization

1. Capitalism

   • Production are owned by individuals or companies rather than by the government

2. Developing countries

   • low- or middle-income nations.

3. E-Commerce

   • economic transactions that take place electronically

4. Homogenization

   • Making something uniform or similar.

5. International Monetary Fund

   • promoting cooperation and exchange between nations and aiding the growth of international trade.

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 another 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

    • International exchange and to reduce poverty around the world.

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