SOCA02H3 Lecture 3: Week 3 notes
Document Summary
Week3: metarial culture is technology, offspring of science need science for advancement of technology, exair transport game changercan move large number of people around the world very quckly. Re generalized ---devison of the world and constant competition. Markets governed by the law of supply and demand. Wto investigates countries to make sure countries stay up with trade. Free trade when a country rids of import duties and tarrif. Countries had boundires and tarrif this si called protectionism. Attempts by countries to protect their own producers. Being econ independ can help u control ur life. Global production is called lean production loweest possible cost. Just in time inventory system---gets rid of storage of inventory keeps small amounts in hand and when ur about to run out .
