Marc Paolo C.

Edora TCW 201

BSHM CSM 21

1. Nations that are emerging from a different type of economy towards a market-based economy.

I. Transitional countries

A transition economy or transitional economy is an economy which is changing from a centrally

planned economy to a market economy. Transition economies undergo a set of structural
transformations intended to develop market-based institutions. These include economic
liberalization, where prices are set by market forces rather than by a central planning organization.
In addition to this trade barrier are removed, there is a push to privatize state-owned enterprises
and resources, state and collectively run enterprises are restructured as businesses, and a financial
sector is created to facilitate macroeconomic stabilization and the movement of private capital. The
process has been applied in china, the former Soviet Union and eastern bloc countries of Europe and
some third world countries, and detailed work has been undertaken on its economic and social
effects.

2. Countries with a lot of industrial activities and where people generally have high incomes.

B. Developed countries

Developed countries are countries that already have high technology and an evenly distributed
economic level. While developing countries are countries where the level of welfare of the
population is still in the middle of developing level. Has a high income per capita.  Developed
countries have high per capita incomes each year. By having a high income per capita, the country’s
economic value will be boosted. Therefore, the amount of poverty can be overcome.

3. Apart from GDP growth, it also includes improvements in literacy, life expectancy, and people's
well-being.

G. Economic development

Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization. Economic globalization refers to the
widespread international movement of goods, capital, services, technology and information.
Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization

4. Nations with a weak industrial base where people have a lower life expectancy, less education,
and less income.
D. Developing countries

Developed countries are countries that already have high technology and an evenly distributed
economic level. While developing countries are countries where the level of welfare of the
population is still in the middle of developing level. Has a high income per capita.  Developed
countries have high per capita incomes each year. By having a high income per capita, the country’s
economic value will be boosted. Therefore, the amount of poverty can be overcome.

5. It refers to the increasing interdependence of world economies as a result of the growing scale
of cross-border trade of commodities and services, the flow of international capital and wide
and rapid spread of technologies.

E. Economic globalization

Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization. Economic globalization refers to the
widespread international movement of goods, capital, services, technology and information.
Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization

6. It refers to the increasing interdependence of world economies as a result of the growing scale
of cross-border trade of commodities and services, the flow of international capital and wide
and rapid spread of technologies.

E. Economic globalization

Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization. Economic globalization refers to the
widespread international movement of goods, capital, services, technology and information.
Economic globalization is one of the three main dimensions of globalization commonly found in
countries, academic literature, with the two others being political globalization and cultural
globalization, as well as the general term of globalization

7. It promotes local growth by stimulating overall growth.

F. Advantages of economic globalization

- Introduction. The process of globalization of the world economies has recently generated severe
protests from many quarters, including on the pages of this journal. Among these critics, almost
every social ill from poverty to pollution to pestilence seems to be caused by globalization and
 the evils of capitalism. In this paper we shall argue that the increased openness of economic life
around the globe has generated great benefits to vast numbers of people. To be sure, not
everybody has gained from globalization, or gained equally, but never have so many people in
so many countries lived so well. Furthermore, we contend that globalization and the extension
of freer markets to the world's people offer the best hope for sustained progress around the
world. Government solutions of the sorts supported by those opposing globalization will consign
millions of the world's poorest people to continued squalor.

8. It encourages the development and spreading of disease.

A. Disadvantages of economic globalization

The main advantage is specialization. If each country and company concentrates on what it does
best, it can achieve a lot more efficiency and competitiveness. At the same time, it won’t have to
worry about the other needs of life, as it will be able to obtain them through trade, nor will it have
to worry about selling its competitive products, as the whole world is its market.

9. Countries have realized that with other countries, this is strategically important for the growth
of the economy in this era of globalization.

H. Economic cooperation

In recent years, economic cooperation, as a field of interest, has been increasingly included in the
Agenda of the Chilean Agency for International Cooperation (AGCI. Economic cooperation is not only
increasingly present in policy documents of donor countries, but also both the objectives and the
conditions of international cooperation have gradually evolved towards a type of cooperation that is
increasingly linked to the economic field. At present, economic cooperation is undoubtedly one of
the most important challenges that must be addressed in connection with vertical cooperation.
However, adequate methods to translate the theoretical concepts into concrete initiatives are still
not clear. This is partly due to the multiple contents assigned to the concept by the different actors
involved in international cooperation. In general, economic cooperation is a concept that is
consistently being used as a simile for entrepreneurial, industrial, financial or productive
cooperation. Neither is literature on the subject available. This is further complicated by the fact
that almost every donor country assigns a different meaning to the concept in their policy
documents

10. It is the way of extending transnational economic processes and economic relations to more
and more countries and by deepening the economic interdependencies among them.

J. Organic system

The organic certification application is called an Organic System Plan (OSP). A complete OSP is
required by the National Organic Program (NOP). The OSP is a detailed description of the practices
and procedures used by your operation to produce organic goods. Operations must update their
OSP as changes occur. CCOF has developed a straightforward, comprehensive OSP as part of our
organic certification application. The OSP leads you through the organic standards, and addresses
common production questions and concerns. Your OSP acts as an agreement between you and
CCOF. It defines how you remain in compliance with the organic standards, and explains what you
do, how you do it, and what you use while doing it. During your pre-certification and annual
inspections, your CCOF inspector will verify that what you do in practice matches what is in your
OSP.