1. What is the World Trade Organization? What is its role in the world economy?

2. Explain what is meant by the globalization of markets. Provide an example. What are the most global markets?

3. What are the four attributes that are discussed in Porter’s diamond? Briefly explain each attribute.

1. Explain what is meant by the globalization of markets. Provide an example. What are the most global markets?

2. Why did Karl Marx criticize capitalism? Describe how he planned to correct those shortcomings.

Explain how the World Trade Organization contributed to the growth of the global economy.

Explain how changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? How do the Internet and the associated World Wide Web affect international business activity and the globalization of the world economy?