BU352 Lecture Notes - Lecture 17: Gross Domestic Product, Purchasing Power Parity, Economic Sanctions
Document Summary
Globalization refers to the increased flow of goods, services, people, technology, capital, information, and ideas around the world; has economic, political, social, cultural, and environmental impacts. 4 set of fa(cid:272)tors are used to assess a (cid:272)ou(cid:374)tr(cid:455)"s (cid:373)arket, pest. Trade sanctions penalties or restrictions imposed by one country over another country for importing and export goods, services, and investments. Tarrifs a tax levied on a good imported into a country, makes imported goods more expensive and less competitive with domestic products, helps protect domestic industries from foreign competition. Dumping the practice of selling a good in a foreign market at a price that is lower than its domestic price. Quotas designates the maximum quantity of a product that may be brought into a country during a specified time period, also benefit domestically made products because they reduce foreign competition. Boycott a group"s refusal to deal (cid:272)o(cid:373)(cid:373)er(cid:272)iall(cid:455) (cid:449)ith so(cid:373)e orga(cid:374)izatio(cid:374) to protest against its policies.
