TOPIC 4: GLOBALIZATION
with rapid and significant human changes
•Globalization - it promotes and increases
interactions between different countries
around the world just like multinational
corporations which operates in two or more
countries that plays a huge role in economic
globalization.
•Globalization in Geography - it is about
making connections between places on a
global scale. For example, the use of digital
technology and rapid transportation which
linked countries, business, and people
around the world.
•Economic Globalization - increases the size
of the economy in every country by
improving the living standard and level of
education of the people.
•Financial Globalization - through this, the
financial markets become deeper and more
sophisticated when they integrate with world
markets, increasing the financial alternatives
for borrowers and investors. One example of
this is the stock market wherein countries
around the world are financially connected
because of the fluctuations which affects the
rate of the stocks.
•Cultural Globalization - it is the
transmission of ideas, meanings, and values
around the world in such a way as to extend
and intensify social relationships. For
example, the Indian restaurants near schools
with more Indian students or Muslim
students.
•Political Globalization - it is the continuity
of political relationships between countries
such as the UN, NATO, WTO, which
debates and regulate international politics
and trade.
•Sociological Globalization - it is associated
and examples of this are the internationally
popular films, books, and TV series which
people are easily influenced to.
•Technological Globalization - the
increasing speed of technological diffusion
across the global economy which we benefit
by adopting to innovation.
•Geographic Globalization - (same ra sa
Globalization in Geography)
•Ecological Globalization - since we are
seeing the same Planet, this globalization
refers to the internationally coordinated
practices and regulations regarding
environmental protection.
TOPIC 5: BASIC THEORY USING
DEMAND AND SUPPLY IN TRADE
1. Law of Demand – the inverse
relation between demand price and
quantity demanded
2. Demand – a fundamental aspect of
market exchanges and economic
activity
3. Demand Curve – represents the
demand relation between demand
price and quantity demanded
- Nothing more than a graphical
representation of the law of demand
4. Supply – a fundamental aspect of
market exchange and economic
activity
- Based on the ownership and control
of scarce resources