how has transportation affected globalization? by encouraging the quick sale of goods by improving the distribution of products by changing the way companies create products by encouraging the exchange of goods and services
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How has transportation affected globalization? by encouraging the quick sale of goods by improving
The means of transport impacted globalization by improving the distribution of products.What is globalization?It is a worldwide phenomenon that has strengthened…
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The means of transport impacted globalization by improving the distribution of products.
What is globalization?
It is a worldwide phenomenon that has strengthened economic, social and political relations between countries in the world, which has occurred as a result of developments in technology and transport.
Therefore, the development of means of transport was a factor that made globalization possible, increasing the availability of products and the profitability of organizations.
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What Is Globalization? Globalization Explained
Learn about globalization, how it works, recent technological drivers, its benefits and drawbacks, and what the future holds for it.
DEFINITION
globalization
Ben Lutkevich, Technical Writer
What is globalization?
Globalization is the process by which ideas, knowledge, information, goods and services spread around the world. In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common good.
Globalization, or globalisation as it is known in some parts of the world, is driven by the convergence of cultural and economic systems. This convergence promotes -- and in some cases necessitates -- increased interaction, integration and interdependence among nations. The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world becomes.
How globalization works
In a globalized economy, countries specialize in the products and services they have a competitive advantage in. This generally means what they can produce and provide most efficiently, with the least amount of resources, at a lower cost than competing nations. If all countries are specializing in what they do best, production should be more efficient worldwide, prices should be lower, economic growth widespread and all countries should benefit -- in theory.
Policies that promote free trade, open borders and international cooperation all drive economic globalization. They enable businesses to access lower priced raw materials and parts, take advantage of lower cost labor markets and access larger and growing markets around the world in which to sell their goods and services.
Money, products, materials, information and people flow more swiftly across national boundaries today than ever. Advances in technology have enabled and accelerated this flow and the resulting international interactions and dependencies. These technological advances have been especially pronounced in transportation and telecommunications.
Among the recent technological changes that have played a role in globalization are the following:
Internet and internet communication. The internet has increased the sharing and flow of information and knowledge, access to ideas and exchange of culture among people of different countries. It has contributed to closing the digital divide between more and less advanced countries.Communication technology. The introduction of 4G and 5G technologies has dramatically increased the speed and responsiveness of mobile and wireless networks.
Increased speed and bandwidth are among the benefits of 5G technology.
IoT and AI. These technologies are enabling the tracking of assets in transit and as they move across borders, making cross-border product management more efficient.Blockchain. This technology is enabling the development of decentralized databases and storage that support the tracking of materials in the supply chain. Blockchain facilitates the secure access to data required in industries such as healthcare and banking. For example, blockchain provides a transparent ledger that centrally records and vets transactions in a way that prevents corruption and breaches.
10 benefits of blockchain technology
Transportation. Advances in air and fast rail technology have facilitated the movement of people and products. And changes in shipping logistics technology moves raw materials, parts and finished products around the globe more efficiently.Manufacturing. Advances such as automation and 3D printing have reduced geographic constraints in the manufacturing industry. 3D printing enables digital designs to be sent anywhere and physically printed, making distributed, smaller-scale production near the point of consumption easier. Automation speeds up processes and supply chains, giving workforces more flexibility and improving output.Why is globalization important?
Globalization changes the way nations, businesses and people interact. Specifically, it changes the nature of economic activity among nations, expanding trade, opening global supply chains and providing access to natural resources and labor markets.
Changing the way trade and financial exchange and interaction occurs among nations also promotes the cultural exchange of ideas. It removes the barriers set by geographic constraints, political boundaries and political economies.
For example, globalization enables businesses in one nation to access another nation's resources. More open access changes the way products are developed, supply chains are managed and organizations communicate. Businesses find cheaper raw materials and parts, less expensive or more skilled labor and more efficient ways to develop products.
With fewer restrictions on trade, globalization creates opportunities to expand. Increased trade promotes international competition. This, in turn, spurs innovation and, in some cases, the exchange of ideas and knowhow. In addition, people coming from other nations to do business and work bring with them their own cultures, which influence and mix with other cultures.
Modern Issues Unit Test Review Flashcards
Study with Quizlet and memorize flashcards terms like How has transportation affected globalization? by encouraging the quick sale of goods by improving the distribution of products by changing the way companies create products by encouraging the exchange of goods and services, The map below shows the European Union. Which country has chosen to bypass membership in the European Union? Bulgaria Finland Turkey Cyprus, What is one of the advantages of globalization? greater markets for goods and services better communication among countries improved ability to monitor economic trends expanded capacity for selling and buying and more.
Modern Issues Unit Test Review
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How has transportation affected globalization?
by encouraging the quick sale of goods
by improving the distribution of products
by changing the way companies create products
by encouraging the exchange of goods and services
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by improving the distribution of products
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The map below shows the European Union.
Which country has chosen to bypass membership in the European Union?
Bulgaria Finland Turkey Cyprus
Click card to see definition 👆
Turkey
Click again to see term 👆
1/15 Created by masterm2019
Terms in this set (15)
How has transportation affected globalization?
by encouraging the quick sale of goods
by improving the distribution of products
by changing the way companies create products
by encouraging the exchange of goods and services
by improving the distribution of products
The map below shows the European Union.
Which country has chosen to bypass membership in the European Union?
Bulgaria Finland Turkey Cyprus Turkey
What is one of the advantages of globalization?
greater markets for goods and services
better communication among countries
improved ability to monitor economic trends
expanded capacity for selling and buying
greater markets for goods and services
A first version of an essay is called a(n) _____
draft
The essay outline is written
after writing the final draft to demonstrate the organization of the essay.
before gathering information as a guideline for what to research.
before writing the first draft to organize the information.
after writing the first draft so that the final draft is organized.
before writing the first draft to organize the information.
The UN best fulfills one of its purposes, that of ending global poverty, by promoting
the Millennium Development Goals.
the functions of the United Nations.
UNICEF. the WHO.
the Millennium Development Goals.
Which of the following might be presented as evidence by someone arguing that the United States won the Space Race?
landing a man on the moon
launching the first satellite
building the International Space Station
inventing the computer
landing a man on the moon
Which is a right in some countries but is not considered a human right according to the Universal Declaration of Human Rights?
freedom of religion freedom of assembly
right to free education
right to cast a ballot
right to cast a ballot
What are the contributing factors that increase the likelihood of genocide? Check all that apply.
a government that is divided philosophically
economic, political, or social instability
unequal distributions of power and resources
leaders who increase tensions between groups
random acts of violence committed by citizens
economic, political, or social instability
unequal distributions of power and resources
leaders who increase tensions between groups
The women pictured here are Golda Meir (left) and Indira Gandhi (right).
What do these two women have in common?
They both are leaders of global businesses.
They both are prime ministers of their countries.
They both are presidents of their countries.
They both are chancellors of their countries.
They both are prime ministers of their countries.
_______ occurs when individuals in a group are selected for destruction only because they belong to that group.
Genocide
This shows a headline from the New York Times about genocide.
What conclusion can be drawn based on the headline?
The international community was aware of what was going on but was unable to stop it.
There was disillusionment because this massacre occurred following the Holocaust.
Armenians were targeted because they were Muslim and the Turks were Christians.
In this case, the government was not supportive of the actions of the perpetrators.
The international community was aware of what was going on but was unable to stop it.
In which of the following ways has the Green Revolution been unfriendly to the environment?
soil conservation crop rotation use of pesticides
introduction of new varieties of crops
use of pesticides
What part of the UN has the sole function of discussing issues of international concern?
Security Council General Assembly
International Court of Justice
Economic and Social Council
General Assembly
To _______ an essay means to improve or change the words.
revise
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