5Group3

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- in favor of globalization, because it creates jobs and the wage is cheaper helping the company save money. Yet the people still spend the money they make; going towards the economy.
 * Export economies
 * Specializing in the marketplace-in favor of globalization, because the country that specilizes in that market recieve all the money that they specialize in because none of the other countries can produce that intem.
 * Economic convergence-in favor of globalization, because the flow of capital from wealthy nations to developing nations enables the economy of the poor countries to recover.
 * Promoting efficiency-in favor of globalization, because promoting effinciency will allow things to be done more accuratly and quickly. For example, technology (internet, computers,phones) promotes efficiency.
 * “Wealth Gap” btw. the rich & poor
 * Instantaneous global economy
 * North American and European Transnational firms
 * Diffusion of technology & ideas