MGTA01H3 Chapter Notes - Chapter 5: Canadian Dollar, Absolute Advantage, Comparative Advantage
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MGTA01H3 Full Course Notes
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Document Summary
Globalization is the integration of marks globally, the world economy becomes a single interdependent system. Imports are products that are made or grown abroad and sold in canada. Exports are products made or grown (domestically) in canada that are sold abroad. Governments and businesses have simply become more aware of the benefits of globalization to their countries and shareholders. New technologies make international travel, communication and commerce increasingly easier, faster and cheaper than every before. Competitive pressures, a firm must enter foreign markets to keep up with its competitors. Per capita income is the average income per person of a country. World bank, an agency of the un divides countries according to per capita income. High-income countries: per capita income greater than 065. Upper-middle-income countries: per capita income between 255 and 065. Low-middle-income countries: per capita income between and 255. Low-income countries: per capita income less than .
