GEC-TCW Study Guide - Midterm Guide: World Economy, Economic Globalization, Reduced Cost
23 Jul 2022
Department
Course
Professor
Document Summary
Identify the actors that facilitate economic globalization (clo2); Articulate a stance on global economic integration (clo2: preparation. Reduced cost in transportation and communication makes it possible to organize and coordinate global production which makes the concept of national boundaries and distance for certain economic activities meaningless. Multinational corporations (mncs) are globally organizing production and allocating resources according to the principle of profit maximization. Their global expansions are reshaping macroeconomic mechanisms of the operation of the world economies. A section of the economy which is made up of firms and institutions that provide financial services to commercial and retail customers. The sector is comprised of many different industries including banks, investment companies, insurance companies, and real estate firms. It advances loans for businesses so they can expand, grants mortgages to homeowners, and issues insurance policies to protect people, companies, and their assets. (https://www. investopedia. com: economic integration.
