Contemporary World

Midterm Reviewer
By Sir Malit

Globalization- . It represents the global integration of international trade, investment, information

technology and cultures.

Multinational Corporation- It is a firms that operate in many nations

Economic Globalization- It measures long distance flow of goods, capital, and services as well as
information and perception that accompany market exchanges

Social Globalization- It measures the spread of ideas, information, images, and people

Political Globalization- It measures the diffusion of government policies in terms of the number of
embassies and consulate in a country, membership in the international organization, likewise
participation of a country in United Nations peace missions and similar advocates.

Market/Capitalist- In this type of economy, there is a separation of the government and the market.
This separation prevents the government from becoming too powerful and keeps their interests aligned
with that of the markets.

Socialist/Command Economy- It is capable of creating a healthy supply of its resources, and it rewards
its people with affordable prices. This capability also means that the government usually owns all the
critical industries like utilities, aviation, and railroad.

Mixed Economy- In the most common types of economies, the market is more or less free of
government ownership except for a few key areas like transportation or sensitive industries like defense
and railroad.

Sometimes, countries that can be assigned to the lower income and lower-middle income categories
are known collectively as less-developed countries (LDCs).

High-income countries are also known as advanced, developed, industrialized, or post-industrial

countries. They have a GNP per capita above $9,386.

World Bank- The international financial institution that provides loans to countries of the world for
capital projects

International Monetary Fund- It ensure the stability of the international monetary system. It does so in
three ways: keeping track of the global economy and the economies of member countries; lending to
countries with balance of payments difficulties; and giving practical help to members.

If no compensation is provided, the action is referred to as confiscation.

International law may be defined as the rules and principles that nation-states consider binding upon
themselves.
Police Power is considered the most pervasive, the least limitable and the most demanding power.

Export Subsidies is a government payments made to domestic firms to encourage exports-can also act
as a barrier to trade.

A quota is a limit on the quantity of imports. Quotas can be mandatory or voluntary, and they may be
legislated or negotiated with foreign governments.

In cost leadership, a firm sets out to become the low cost producer in its industry.

The investment-based period was dominated by producer-driven commodity or value chains, which in
turn tended to be dominated by firms characterized by large amount of concentrated capital focused on
large-scale or capital-intensive manufacturing or extractive industries.

Digital Globalization has affected the entire structure of how global corporations operate. The
integration of corporate structure reducing the effects of time and distance especially for services
performed within the corporate structures such as design, finance and accounting, advertising and
brand development, legal services, inventory controls, etc.

The trade-based was due to the emergence of Japan as a major producer nation, especially of
automobiles and consumer electronics from the 1970s onward. This brought to the scene new models
of effective production focused especially on quality and regimes of flexible production which
prompted the European firms to rejoin the global commodity chains.

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END of Reviewer…

To know more… please refer to the attached PowerPoint presentations Provided!

PS:

For MT 4:00-5:30 PM Class (BSBA HRM 2B) Our Exam would push through on Tuesday October 8, 2019

For WTH Classes

7:00-8:30 AM (BSBA FM 1D)
8:30-10:00 AM (BSCA 1D)
11:30 AM-1:00 PM (BSA 1D)

No Changes in Schedule! Thursday lahat kayo!