Globalization

Globalization

1. Capitalism

   • An economic system in which the means of production are owned by individuals or companies

2. Developing Countries

   • Countries with low or middle-income nations

3. E-Commerce

   • Commerce and Economic transactions that take place electronically

4. Homogenization

   • Making something uniform or similar

5. International Monetary Fund

   • International organization of 189 countries with the goal of promoting cooperation and exchange between nations and aiding the growth of international trade

6. Mercantilism

   • A theory that holds that a nation's prosperity is based on its supply of capital

7. Multilateral

   • A system involving the participation of more than two countries

8. World Bank

   • Union of international organizations to provide aid to countries seeking to participate in international exchange to reduce poverty

9. Protectionism

   • Measures set up by a governing organization to protect domestic industry and economy from foreign comtetition

10. Outsourcing

    • Transfering noncentral functions to another entity to complete

11. Offshoring

    • Transferring organizational functions to another country

12. Multinational Corporation

    • A corporation that conducts business in more than one nation

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