MGTA02H3 Chapter Notes -Per Capita Income, World Bank, North American Free Trade Agreement
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MGTA02H3 Full Course Notes
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Document Summary
Imports products that are made or grown abroad and sold in canada. Globalization the integration of markets globally. Exports products made or grown in canada that are sold abroad. The contemporary global economy: globalization has sustained because: Govs and businesses aware of benefits of it. Sometimes businesses must enter foreign markets to keep up. Eastern been affected by government instability (russia, International competitiveness the ability of a country to generate more wealth than its competitors in world markets. Other transactions money spent by tourists, on foreign aid, buying/selling of currency on intl money. Ex: us dollar always higher than cdn but cdn was fairly high; Canadians would go to states to shop; then cdn dollar dropped; americans came here to shop. Social and cultural differences: language barriers (product names, physical stature of people, behavioral differences. Economic differences: government involvement in certain industry or not, type of gov (command, market) Legal and political differences: quota"s, tariffs, and subsidies.
