MGTA01H3 Chapter 5: Chapter 5 Textbook Notes
noahrosa0429 and 39878 others unlocked
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
In fact, trade between nations can be traced back as far as 2000 bce when north african tribes took dates and clothing to assyria and. Babylonia in the middle east and traded them for olive oil and spices. Mit professor paul krugman states that we ar03493,3097020,. 9;04-, econom-0. ,:802547983443705708039,890757454794341!9,3 they did 100 years ago and that capital mobility (the movement of money from country to country) is about the same as it was in 1914. International trade has become more central in the fortunes of most nations of the world. Countries are now encouraging international trade and there are incentives offered to make their domestic business internationally. Globalization is when the world economy is becoming a single interdependent system. Imports are products made or grown abroad but sold in canada (eg. shoe made in china) Exports are products made or grown in canada that is then sold abroad. As industries and market become global, firms compete in them are also becoming global.