Globalization

Globalization

1. Form of cultural integration

   • Cultural
   • Economical
   • Social
   • Biological

2. Capitalism

   • Economic system where means of production are not owned by the government
     • Outsorcing
       • Transfering noncentral functions to another entity

3. Developing Countries

   • Countries classified as low-or-middle income countries
   • Multinational Corporation
     • Business operating in more than one nation

4. E-Commerce

   • Economic and comerce transactions done electronically

5. Homogenization

   • Making something uniform or similar

6. International Monetary Fund

   • Organization that promotes cooperation and exchange between nations

7. Mercantilism

   • Theory that holds that a nation´s prosperity is based on its supply of capital

8. Multilateral

   • More than two countries participating

9. Offshoring

   • Transfering organizational functions to another country

10. Protectionism

    • Measures to protect domestic industry and economy from foreign competition

11. World Bank

    • Organization that helps countries to participate in international exchange

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