The International Division of Labor

• The international division of labour is the basis for national and world economies.
• It exists in two forms: international specialization and international production cooperation.
• It has been changing due to globalization and digitalization of the economy.
• The use of ICT and the internet has given rise to a new model of IDL.
• The IDL plays a multifunctional role in the international economy.
• National economies can be closed or open depending on their involvement in the IDL.
• Open economies maintain financial and trade ties with other countries.
• An open economy allows for international trade activities, borrowing and lending funds, and trading technological knowhow and expertise.
• The IDL contributes to the concentration of resources, interconnection of reproduction processes, and allows for additional economic benefits.
• The level of innovative development and competitiveness depends on the level of development of information technology and the internet.

Test your knowledge on the international division of labour (IDL) with this informative quiz. From the different forms of IDL to the impact of globalization and digitalization, this quiz covers it all. Learn how the use of ICT and the internet has given rise to a new model of IDL and the multifunctional role it plays in the international economy. Discover the benefits and drawbacks of closed and open economies, and how the IDL contributes to the concentration of resources and interconnection of reproduction processes.