Global Economy and ICT

Study Notes

Global Economy Components

The global economy consists of several key components, including global supply chains, information and communication technologies (ICT), migration and labor mobility, and supranational organizations.

Global Supply Chains

Production processes are increasingly fragmented and distributed across different countries, forming complex global supply chains.
Global supply chains involve the sourcing of raw materials, components, and labor from various locations to manufacture and distribute goods globally.

Information and Communication Technologies (ICT)

Advancements in ICT have facilitated communication, collaboration, and the exchange of information on a global scale.
The internet, mobile technology, and digital platforms have transformed how businesses operate, connect with customers, and manage supply chains globally.

Migration and Labor Mobility

Globalization has led to increased migration and labor mobility, with people moving across borders in search of better economic opportunities.
The movement of people contributes to the global workforce and influences labor markets and demographics worldwide.

Supranational Organizations

Institutions such as the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank play crucial roles in governing and regulating aspects of the global economy.
These organizations set rules for trade, provide financial assistance to countries in need, and promote economic development and stability worldwide.

Description

This quiz explores the concepts of global supply chains, information and communication technologies, and their impact on production processes and labor mobility. Learn about the fragmentation of production processes and the role of ICT in the global economy.