Consumer Rights - Chapter 8

Consumer Rights - Chapter 8 - Chapter 8: Consumers in the...

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Chapter 8:  Consumers in the Global Marketplace 19/02/2008 09:28:00 Thursday Ch. 10, Ch. 9 will be next Tuesday Economic Development First-world countries Developed United States, UK, France, Japan Second-world countries Former Communist countries Planned economies Russia, Kazakhstan, China Third-world countries Underdeveloped Venezuela, Afghanistan, Cambodia Benefits of Advanced Stages of Economic Development *Modern medicine * Longer life spans * New technology *Access to higher education *Less physically strenuous labor *Shorter work weeks Worldwide Economic Problems Pollution Population Growth Income Inequality Persistent Poverty 25% people in world live in poverty 2/3 of world’s population goes to bed hungry each night Military Spending Global Trade Terms Pareto efficiency What international trade is based on; idea that trade is a win-win situation because if both parties didn’t … (find in textbook) Economies of scale Cost per unit decrease as the quantity of production increases Absolute advantage
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Countries specialize in making certain goods
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This note was uploaded on 03/30/2008 for the course AHRM 2404 taught by Professor Pjfisher during the Spring '08 term at Virginia Tech.

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Consumer Rights - Chapter 8 - Chapter 8: Consumers in the...

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