ADMS 1000 Study Guide - Final Guide: World Trade Organization, Cultural Capital, Imperfect Competition

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Eytan Lasry

Document Summary

Adms 1000 mid term exam review thursday december 12th, 2013. Integration of markets and economics: free flow of goods/services, capital and labor, multinational corporations, benefits/threats. International trade: mercantilism/protectionism, tariffs, quotas, subsidies (see handout on tariffs) What are the problems with protectionism: trade agreements and international bodies. Gatt, wto, imf, world bank : regional trading blocs (eu, apec, asean, nafta, objectives. Impact on trade, employment and business; on canadian culture; on competitiveness . Globalization is the: process involving integration of economic and world markets facilitated by bodies such as nafta, eu, apec, asean etc, free movement of goods/services, capital and labor is critical to globalization. Increased cross border transactions, fdi & economic interdependence. Power held in home country e. g. r&d investments. Mercantilism (1500-1800) is: encourages trade surpluses where exports of goods or services exceeds imports, result: colonial powers (britain, france, spain, netherlands) conquered countries to gain access to raw materials & markets for finished products.