COMMERCE 1E03 Lecture Notes - Lecture 3: Cultural Diversity, World Competitiveness Yearbook, Mixed Economy
19 May 2016
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Document Summary
Globalizations refers to increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets. Increasingly sophisticated communications and transportation technologies and services. Mass migration and the movement of peoples. A level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers. International agreements that reduce the cost of doing business in foreign countries. Globalization offers potential in the form of profits to companies and nations. Canada is a market of more then 35. 4 million people but there are over. 7. 2 billion potential customers the largest countries are china (1. 4 billion), india (1. 3 billion), the us (323. 2 million), and indonesia (253. 5 million)- in the 195 countries that make up the global market. Every year the world"s population increases 75 to 80 million people, creating new opportunities.
