1
Type of investment where companies in one country provide money to companies in another country to purchase materials and hire workers.
2
Increase of trade and commerce between countries.
3
When one country exploits their abilities to specialize in a good to maximize profit; example: Nathan's country raises cows because they have large open fields.
4
Country's economy moving from farm-based to machinery/production-based.
5
Average amount of money earned by each person in a country.
6
When jobs from one country are forced to another country; sometimes called outsourcing.
7
When one country produces all the goods and services it needs; critics of globalization often say that specialization reduces this.
8
Amount of oil used for cars, factories, etc.
9
When one country focused on producing one good; example: Nathan's country only raises cows.
10
Measures to facilitate and encourage foreign trade.
11
Workers who pursue jobs with advanced education requirements; ex: engineers.
12
Workers who pursue jobs with minimal training; ex: restaurant workers.
13
When there are not a lot of resources available to a country; example: food shortages, not having enough iron ore, etc.
14
Taxes placed on imported goods to disincentivize foreign trade.
15
Acronym for amount of goods and services produced in a country in a year.
Crear