INTST101 Chapter Notes - Chapter 6: Mush, Business Cycle, Xm Satellite Radio
13 Jul 2018
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Intst 101: chapter 6 - )nternational trade & business: guiding them so that they can maximize utility aka. (cid:498)bliss point(cid:499, decisions of individual economic decision makers (consumers, economy as a whole; how do g/s get produced and distributed. If the level is rising, there is expansion (a growing economy: many transactions. Productivity output per man/hour: generally, free market capitalism as previously discussed (cid:523)(cid:498)the mixed. Intst 101: chapter 6 - )nternational trade & business. Gravity theory of international trade: small economies revolve around the larger ones and are trapped in their orbit. Globalization: increasing widening and deepening of interconnections between national economies especially since the end of wwii (1945), but especially since the end of the cold war (1991). There is interconnection economically (trade, esp), but also culturally and socially. Historical note: there have been previous eras of relative globalization and they all came to an end. (esp.
