by making long trips less expensive by making long trips in less time by opening up new trade markets by increasing hiring opportunities by increasing travel options
.
What is the most likely reason the US corporation would open a factory in China?
When opening a factory in a country with an economy like China's, it is most likely that its interests are
not low labor costs or low tax rates
, but to take advantage of abundant resources that may not exist in the country of origin.
What are the most likely reason a US corporation would open a factory in China choose four answers?
When opening a factory in a country with an economy like China's, it is most likely that its interests are
not low labor costs or low tax rates
, but to take advantage of abundant resources that may not exist in the country of origin.
Which of the following has increased the pace of globalization?
Developments in IT,
transport and communications
have accelerated the pace of globalisation over the past 40 years. The internet has enabled fast and 24/7 global communication, and the use of containerisation has enabled vast quantities of goods and commodities to be shipped across the world at extremely low cost.
When way to measure economic growth is by using GDP which stands for?
Gross domestic product
(GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.
Which region is most likely to export bananas to the United States?
Which region is most likely to export bananas to the United States ?
Central America
.
Which situation might cause a country to specialize?
Answer:
Environmental conditions, inner-social conditions, and trade conditions
. A country cannot choose to be where the oil is at, or if rice can grow there, so they will specialize in what they can get to grow there, much like most Middle Eastern countries and oil.
What are the 7 major types of globalization?
- Financial Globalization.
- Economic Globalization.
- Technological Globalization.
- Political Globalization.
- Cultural Globalization.
- Sociological Globalization.
- Ecological Globalization.
- Geographical Globalization.
What are effects of globalization?
In general,
globalization decreases the cost of manufacturing
. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.
What are the advantages and disadvantages of globalization?
While it can benefit nations, there are also several negative effects of globalization. Cons of globalization include:
Unequal economic growth
. While globalization tends to increase economic growth for many countries, the growth isn't equal—richer countries often benefit more than developing countries.
Which country has highest GDP?
| # Country GDP (abbrev.) | 1 United States $19.485 trillion | 2 China $12.238 trillion | 3 Japan $4.872 trillion | 4 Germany $3.693 trillion |
|---|
What happens when GDP increases?
If GDP is rising,
the economy is in solid shape, and the nation is moving forward
. On the other hand, if gross domestic product is falling, the economy might be in trouble, and the nation is losing ground. Two consecutive quarters of negative GDP typically defines an economic recession.
What happens when GDP decreases?
If GDP falls from
one quarter to the next then growth is negative
. This often brings with it falling incomes, lower consumption and job cuts. The economy is in recession when it has two consecutive quarters (i.e. six months) of negative growth.
What is it called when a country is able to produce more than another country?
Absolute advantage
describes a situation in which an individual, business or country can produce more of a good or service than any other producer with the same quantity of resources.
What kind of advantage does a country have if it can make a product?
In economic terms, a country has a
comparative advantage
when it can produce at a lower opportunity cost than that of trade partners. While a country cannot have a comparative advantage in all goods and services, it can have an absolute advantage
What is the benefit in reaching the absolute advantage in the production of one good?
The benefit of reaching the absolute advantage in the production of one good is
the ability to specialize in producing that good, thus utilizing a country's' resources efficiently
.
