Podcast
Questions and Answers
Globalization is the process by which ideas, knowledge, information, goods and services ______ around the world
Globalization is the process by which ideas, knowledge, information, goods and services ______ around the world
spread
In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common ______
In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common ______
good
In a globalized economy, countries specialize in the products and services they have a competitive advantage ______
In a globalized economy, countries specialize in the products and services they have a competitive advantage ______
in
If all countries were specializing in what they do best, production should be more efficient worldwide, prices lower, economic growth widespread and all countries benefiting -- in ______
If all countries were specializing in what they do best, production should be more efficient worldwide, prices lower, economic growth widespread and all countries benefiting -- in ______
Signup and view all the answers
The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world ______
The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world ______
Signup and view all the answers
Communication technology. The introduction of 4G and 5G technologies has dramatically increased the speed and responsiveness of mobile and wireless networks. Increased speed and bandwidth are among the benefits of 5G ______.
Communication technology. The introduction of 4G and 5G technologies has dramatically increased the speed and responsiveness of mobile and wireless networks. Increased speed and bandwidth are among the benefits of 5G ______.
Signup and view all the answers
IoT and AI technologies are enabling the tracking of assets in transit and as they move across borders, making cross-border product management more ______.
IoT and AI technologies are enabling the tracking of assets in transit and as they move across borders, making cross-border product management more ______.
Signup and view all the answers
Blockchain. This technology provides a transparent ledger that centrally records and vets transactions in a way that prevents corruption and breaches. It facilitates the secure access to data required in industries such as healthcare and ______.
Blockchain. This technology provides a transparent ledger that centrally records and vets transactions in a way that prevents corruption and breaches. It facilitates the secure access to data required in industries such as healthcare and ______.
Signup and view all the answers
Advances in air transport and fast rail technology have facilitated the movement of people and ______.
Advances in air transport and fast rail technology have facilitated the movement of people and ______.
Signup and view all the answers
3D printing enables digital designs to be sent anywhere and physically printed, making distributed, smaller-scale production near the point of consumption ______.
3D printing enables digital designs to be sent anywhere and physically printed, making distributed, smaller-scale production near the point of consumption ______.
Signup and view all the answers
Study Notes
Globalization
- Globalization is the process of ideas, knowledge, information, goods, and services spreading around the world
- In an economic context, it describes integrated economies with free trade, free flow of capital, and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common good
Benefits of Globalization
- Countries specializing in products and services they have a competitive advantage increases efficiency, lowers prices, and promotes economic growth
- All countries benefit when they specialize in what they do best
Enablers of Globalization
Communication Technology
- 4G and 5G technologies have increased mobile and wireless network speed and responsiveness
- 5G benefits include increased speed and bandwidth
IoT and AI
- Enable tracking of assets in transit and across borders, making cross-border product management more efficient
Blockchain
- Provides a transparent ledger that centrally records and vets transactions, preventing corruption and breaches
- Facilitates secure access to data required in industries like healthcare and finance
Transportation
- Advances in air transport and fast rail technology have facilitated the movement of people and goods
3D Printing
- Enables digital designs to be sent anywhere and physically printed, making distributed, smaller-scale production near the point of consumption possible
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Explore the concept of globalization, its advantages, disadvantages, and historical context. Learn about the spread of ideas, knowledge, goods, services, and the economic implications of integrated economies.
