About This Chapter
Global Economic Development - Chapter Summary
This collection of international business lessons examines concepts related to global economic development. You'll review the expansion of the global economy and assess the economic impact of globalization. The chapter also helps you understand how globalization has affected the U.S. economy, as well as how less-developed countries handle obstacles that get in the way of economic development. Each lesson comes with a short self-assessment quiz to help you memorize the economic terms and concepts you learn. After completing this chapter, you'll be able to:
- Assess the developmental obstacles of less-developed countries
- Explain the relationship between modernization, development and politics
- Know how nations can raise their potential output
- Evaluate the advantages, expansion and impact of the global economy
- Describe globalization's effect on the U.S. economy
- Identify the impact globalization has on developed, developing and transitional countries
- Outline the differences in economic equality between developed and developing nations
1. The Global Economy: Advantages, Expansion & Impact
This lesson will explain the concept of economic globalization. We will look at both its positive and negative effects while also highlighting the terms 'import,' 'export,' and 'capital flight.'
2. The Impact of Globalization on Developing, Transitional & Developed Countries
Countries of the world are impacted at different levels by globalization. Learn about the different effects of globalization on developing, transitional, and developed countries and how all these economies are interconnected.
3. Economic Inequality: Differences in Developed and Developing Nations
Not everyone has the same house, the same car, or makes the same amount of money. In this lesson, we will explore the concept of economic inequality and investigate what characteristics make a nation developed or developing.
4. Less-Developed Countries & Obstacles to Development
Most of the world's population lives in lesser-developed countries struggling to develop and rise out of poverty. In this lesson, you'll learn about some of the major hurdles facing these countries in their quest to develop.
5. Modernization, Development & Politics
The current disparity in international development, wealth and resources across the globe makes economic development an important international issue for the 21st century. In this lesson, you'll learn about development and its relation to international politics.
6. Economic Growth: How to Raise a Nation's Potential Output
Learn the truth about long run economic growth, including how economists define and illustrate an increase in the potential output of a nation through change in real GDP.
7. Effect of Globalization on the U.S. Economy
Globalization is a concept that comes with positive and negative views and perspectives. In this lesson we will discuss globalization and some of the effects it has on the U.S. economy.
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Other chapters within the Business 120: International Business course
- Introduction to International Business
- How Culture Affects International Business
- Key Factors in International Trade
- International Trade Management & Regulation
- Exchange Rates & Currency Changes
- International Market Entry Strategies
- Management & Human Resources in International Business
- International Operations Management
- Global Marketing and R&D Strategies
- Communication & Decision-Making in Global Business
- Impact of Globalization on Organizations
- Impact of Globalization on Countries
- Global Business Ethics
- Future of Globalization
- Studying for Business 120