COMMERCE 1B03 Chapter 3: Chapter 3- 1
14 Oct 2018
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Document Summary
Globalization is the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labour markets. Canada is a market of more than 35. 7 million people but there are almost 7. 53 billion potential customers. This year, the world"s population will increase by approx. The economic welfare of our nation is significantly affected by the degree to which those in other nations buy our products, invest in our country and lend us funds as we require them. When we sell products to other nations, jobs are created and incomes are earned. When investment comes to canada, businesses expand and improve, technology is developed and applied, and jobs can be created. Our ability to borrow and the interest rate we will have to pay will depend on the confidence foreign leaders have in our economy.
