IB Chapter#1 - Chapter 1 Globalization Globalization the shift toward a more integrated and interdependent world economy Globalization of Markets

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Chapter 1: Globalization Globalization – the shift toward a more integrated and interdependent world economy. Globalization of Markets – the merging of historically distinct & separate national markets into one huge global marketplace. Germany is the largest exporter 90 % of US firms that export are small business Most global markets are in the industrial goods and materials that serve a universal need Aluminum, Oil, Wheat Microprocessors, DRAM’s, computer software, financial assets Pepsi vs. Coca Cola, Ford vs. Toyota Globalization of Products – sourcing goods and services from locations around the globe to take advantage of national differences in the cost & quality of various factors of production Factors of Production – components of production such as labor, energy, land and capital. Some countries are the best suppliers for certain products The internet is being used as an outsource service. Institutions are needed to help manage, regulate, and police the global marketplace,
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This note was uploaded on 03/24/2008 for the course IB 350 taught by Professor Gerber during the Spring '08 term at University of Texas at Austin.

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IB Chapter#1 - Chapter 1 Globalization Globalization the shift toward a more integrated and interdependent world economy Globalization of Markets

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