Author: Anonymous

Princeton economic historian Harold James believes that the COVID-19 pandemic could lead to technological solutions (e.g., telemedicine) that result in people paying less for essential services, thereby increasing individual purchasing power.

The term political economy is used to stress the fact that the political, economic, and legal systems of a country are independent of each other and do not influence one another.

Author Richard Florida argues that the world is not flat but spiky, with the most important economic activities taking place in the ________. 

One common measure of economic development is a country’s _________.

To support his idea that the world is “semi-globalized,” _______ points to the fact that FDI represents less than 10 percent of gross fixed capital formation in most countries rather than 80 or 90 percent.

A(n) ________ is considered an external stakeholder of an organization.

During the 1970s, a group of economists pointed out the ability of firms to attain economies of scale that could have important implications for international trade. Their thinking became known as ________.

David Ricardo’s theory of comparative advantage attempts to rationalize why some countries export automobiles, consumer electronics, and machine tools, while other countries export chemicals, watches, and jewelry. This rationalization is best explained in terms of

According to critics of globalization, the fact that young people the world over eat McDonald’s hamburgers, wear clothing made by Spanish company Zara, and listen to pop stars like Drake (Canadian) and Rihanna (Barbadian) on their iPhones shows that consumer tastes are becoming _______.

A firm must become a multinational enterprise to engage in international business.