Chapter 2 Powerpoint

Chapter 2 Powerpoint - Chapter 2 The Global Economic...

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Chapter 2 The Global Economic Environment
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22-2 Introduction This chapter includes An overview of the world economy A survey of economic system types The stages of market development The balance of payments
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32-3 The World Economy—An Overview In the early twentieth  century economic  integration was at  10%; today it is 50% EU and NAFTA are  very integrated Global competitors 
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42-4 The World Economy—An Overview The new realities Capital movements have replaced trade as  the driving force of the world economy Production has become uncoupled from  employment The world economy, not individual  countries, is the dominating factor
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52-5 The World Economy—An Overview The new realities, continued 75-year struggle between capitalism and  socialism has almost ended E-commerce diminishes the importance of  national barriers and forces companies to  reevaluate business models
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62-6 Economic Systems Resource Allocation           Market                        Command Private Resource Ownership State Market  capitalism Market  socialism Centrally  planned  capitalism Centrally  planned  socialism
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72-7 Market Capitalism Individuals and firms allocate resources Production resources are privately  owned Driven by consumers Government’s role is to promote  competition among firms and ensure 
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82-8 Centrally Planned Socialism Opposite of market capitalism State holds broad powers to serve the public  interest; decides what goods and services are  produced and in what quantities Consumers can spend on what is available Government owns entire industries and  controls distribution Demand typically exceeds supply
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92-9 Centrally Planned Capitalism Economic system in which command  resource allocation is used extensively  in an environment of private resource  ownership Examples Sweden Japan
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102-10 Economic Freedom
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This note was uploaded on 06/12/2011 for the course MKTG 475 taught by Professor Field during the Spring '11 term at Nicholls State.

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Chapter 2 Powerpoint - Chapter 2 The Global Economic...

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