Globalization (Understanding the Discussion)

Globalization (Understanding the Discussion)

1. Capitalism

   • Economic System, were productions are owned by individuals, also goods, services and capital are exchanged in a free market

2. E-Commerce

   • Commerce and economic transactions that take place electronically

3. Homogenization

   • Making something uniform or similar.

4. International Monetary Fund (IMF)

   • An international organization of 189 countries, established in 1947, promoting cooperation and exchange between nations and aiding the growth of international trade.

5. Mercantilism

   • Economic theory, holds nations prosperity, is based on its supply of capital

6. Multilateral

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

7. Multinational corporation

   • Corporation that conducts business in more than one nation.

8. Offshoring

   • Transferring organizational functions to another country.

9. Outsourcing

   • Transfering noncentral functions to another entity to complete. This can be donde in the same country

10. Protectionism

    • Measures set up by a governing organization to protect domestic industry and economy from foreign competition, includes import and export regulations and government support for domestic production.

11. World Bank

    • 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