Globalization

Global trade provides consumers with

more options and lower prices

Technologies that allow for instant worldwide communication include

mobile phones and Internet access.

Purchasing power parity is used to compare the gross domestic product between

countries

The graph shows China’s workforce from 2000 to 2010.

Which best describes the effect of globalization on China’s economy?

China is shifting toward specialization in industry and services and away from agriculture.

Which technologies have made global communication instant and more effective? Check all that apply.

cell phones wireless devices smart phones

The graph shows households with Internet access from 2003 to 2013.

How has Internet access changed and affected globalization from 2003 to 2013?

A thirty percent increase in Internet access has sped up globalization.

The chart shows a circular flow model describing the movement of goods and services.

How does globalization cause the foreign sector to influence the economy?

The foreign sector influences how imports and exports move between firms and households.

Gross domestic product tracks economic growth by measuring all goods and services

produced by an economy.

The map shows the world’s gross domestic product.

Based on the map, which is the best conclusion that can be drawn about the economies of the US and China?

The US and China are strong because they have a high gross domestic product.

How has globalization made countries more interdependent?

Countries now rely on one another for vital resources. Countries now rely on one another for chances to import. Countries now rely on one another for chances to export.

Which statement best describes how globalization connects the world

Globalization helps create new forms of transportation, communication, and technology.

How does globalization cause the foreign sector to influence the economy?

The foreign sector influences how imports and exports move between firms and households.

Connect

to join or bring together

Globalization

the trend toward a world that is more interconnected by technology, trade, and travel

Interdependent

a condition by which different things rely on each other for support

multinational corporation

a company that does business in two or more nations

outsourcing

using foreign resources instead of domestic resources