5Group5

Globalization can be a complicated issue. Adding to the difficulty in understanding this multifaceted subject is that fact that it involves many economic terms and concepts.
 * II. How does Globalization impact individuals and the World? **
 * A. T **ake this quiz [] on economic vocabulary terms that are associated with globalization. Once you are confident that you know what these terms mean, move onto part B.
 * B. **Your group as been assigned the “Pro-Globalization” position. **Decide ** which of the following are points/arguments for “**Pro- Globalization **”. Be sure to **explain ** why each term belongs on your group's assigned side. Some terms can be on **both ** sides of the Globalization debate.
 * Trickle down theory
 * Natural progression
 * IMF and World Bank
 * Weak environmental laws
 * Bubble economies
 * Sweatshops
 * Export economies
 * Specializing in the marketplace
 * Economic convergence
 * Promoting efficiency
 * “Wealth Gap” btw. the rich & poor- globilization encourages economic convergence which will decrease the gap between the rich and poor.
 * Instantaneous global economy- is a postive aspect of globilization because cash flow is instantaneous and businesses are always working and always making profit.
 * North American and European Transnational firms-globilization helps these groups promote thier products throughout the world and increases thier profit.
 * Diffusion of technology & ideas- The spreading of technology and ideas is good for globalization. Using technology such as the internet allows trillions of ideas to be sent all across the globe in a matter of seconds. This greatly increases the speed of spreading globalization.