Globalization

Globalization

1. Capitalism

   • economic system

2. Developing countries

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

3. E-Commerce

   • Commerce and economic transactions that take place electronically

4. Homogenization

   • Making something uniform or similar

5. Mercantilism

   • an economic theory that holds that a nation’s prosperity is based on its supply of capital

6. International Monetary Fund (IMF)

   • international organization of 189 countries

7. Multilateral

   • 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

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

12. 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