Ch 16: The World Economy

About This Chapter

This chapter covers the important concepts about the world economy in broad strokes so that you can be successful in answering exam questions about it. While reviewing these lessons, you'll cover topics ranging from international trade to ecotourism.

The World Economy - Chapter Summary

International trade is not a new phenomenon, but you can explore how it changed in the Age of Exploration, in the 1990s and even more recently within these engaging lessons. Now a global economy exists, and you can study its advantages, expansion, and impact. Various industries have had an impact on the global economy, which will be addressed in this chapter. By the end of this chapter you should be able to:

  • Explain how international trade changed since the Age of Exploration
  • Describe the impact of the global economy
  • Understand the effects of restructuring and deindustrialization
  • Discuss the obstacles to and impact of sustainable development
  • Explain the benefits of ecotourism

Each lesson in this chapter has been created by our professional instructors to help you master topics related to the world economy. Short, engaging videos present key concepts and clear explanations, which you can choose to view as often as you feel necessary. Each lesson has a printable worksheet and self-check quiz to help you monitor your preparedness.

6 Lessons in Chapter 16: The World Economy
Test your knowledge with a 30-question chapter practice test
How International Trade Changed in the Age of Exploration

1. How International Trade Changed in the Age of Exploration

In this lesson, we will explore the role of international trade during the Age of Exploration. Specifically, we will learn how the discovery of the New World impacted international trade patterns.

International Trade in the 1990s and Beyond

2. International Trade in the 1990s and Beyond

On the news, we often hear terms like globalization, NAFTA, and WTO thrown around. But what do those ideas and groups really mean for us? This lesson serves to shed some light on the state of international trade.

The Global Economy: Advantages, Expansion & Impact

3. 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.'

The Effects of Restructuring & Deindustrialization

4. The Effects of Restructuring & Deindustrialization

Nowadays, terms like 'restructuring' and 'deindustrialization' are heard more and more frequently. But what do they mean? In this lesson, learn about restructuring and deindustrialization and examine some of the effects of these economic transformations.

Sustainable Development: Definition, Obstacles & Impact

5. Sustainable Development: Definition, Obstacles & Impact

Let's discuss the idea of sustainable development. Then, let's looks at the obstacles involved with developing the world's economy to meet the needs of the present without hurting future generations. After the video, test what you learned through our practice quiz.

Ecotourism: Definition & Benefits

6. Ecotourism: Definition & Benefits

Many people love to travel, but when it comes to visiting nature, there is a right way and a wrong way to go. Ecotourism is the right way. Find out why!

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.