5Group4

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 “Anti-Globalization” position. **Decide ** which of the following are points/arguments for “**Anti- 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**
 * **Instantaneous global economy**
 * **North American and European Transnational firms**
 * **Diffusion of technology & ideas**

Economic Convergence "Pro"

Promoting Efficiency Globalization negatively effects the way ecciency is promoted because many companies can go out of buisness easily if they are not the best. Also, some companies may false advertise because they need to stay in buissness and promote their product, to stay on top.

"Wealth Gap" Between the rich and poor Globalization includes the spread of products and ideas. Wealthy people are more inclined to buy the products. Poor people are not able to get good educations. Rich people have the money to go to a good school, and get a good job, therefore create more income for themselves.

Instantaneous Global Economy Always being able to trade and communicate between nations can bring negative affects. People have to work all around the clock, and have less time for themselves. Illegal products are more vulnerable to be traded. Values may become less important because people are so focused on their work.

North American and European Transnational Firms