When a firm relocates its operations specifically to avoid raising wages, this is called _____.

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Terms in this set (25)

When a firm relocates its operations specifically to avoid raising wages, this is called

the race to the bottom.

Democracy is accurately defined by

-fair elections
-freedom to express political
-freedom of religion

Global Market Channels

A firm selling products outside of their home country.

Global Operations

A company manufacturing goods abroad.

Global Supply Chains

A corporation subcontracting to global suppliers.

Free Enterprise System

Private Property Ownership
Voluntary Exchange

Central State Control

Government Property Ownership
Private Markets are Illegal

Military dictatorships currently exist in

Cuba
North Korea
Zimbabwe

At what level of the global wealth pyramid would $10,000 to $100,00 in individual asset fall?

middle class

If a company wanted to file a complaint about a global trade issue, which organization would they contact?

World Trade Organization

Civil Society

Supporting consumers from inadvertently supporting civil war

Business

Preserving the reputation of diamonds as a romantic symbol

Government

Protecting legitimate diamond businesses

Base of Pyramid

Work tools
Furnishings

Middle Class

Some home equity
Retirement savings

High Wealth

Home ownership
New Cars

Top of Pyramid

More than $1,000,000 in overall assets
The greatest amount of personal assets

According to the textbook, JP Morgan Chase (a bank) is a transnational organization because it

controls banking assets in over 60 countries

How does globalization benefit consumers?

It provides a variety of products for consumption.
It lowers the price of goods.

How do political and economic systems interrelate?

Open markets often pave the way to political influence.
Democracy and free enterprise systems often develop together

Identify the political and economic systems used today in China

authoritarianism and free enterprise

Identify the primary results of globalization

indirect or direct influence over international politics
the spread of technology, culture, and politics
a more integrated world economy

Assets accumulated up to a point in time are called

wealth

What benefits have microfinance lenders realized?

Developed a global trend in micro loans
Increased profits
Helped millions of people

The term globalization

...

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How did Intel confront and address the issue of conflict minerals in its supply chain quizlet?

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