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CHAPTER 1 (INTRODUCTION) - Coggle Diagram
CHAPTER 1 (INTRODUCTION)
INTERNATIONAL ECONOMICS
study of the production, distribution and consumption of goods and services on a global basis.
how nations interact through; trade of goods and services, flows of money, and investment
GLOBALIZATION
a worldwide economic integration process that removes the barriers, enabling free trade, movement of capital
Technology of change of communication or more quickly and the job opportunities when economic growth
There some bariers and about of import or selling product through trade and financial flows & movement of ideas and people which is facilitated by the revolution in telecommunication & transportation.
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IMPACT OF GLOBALISATION
Such as Environmental problem which is global warming, the TNC developing countries and loss of local culture
It makes a faster economic growth, access to new technology and a cheaper import
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GRAVITY MODEL
Crossing borders involves formalities that take time & costs. Existence of borders also indicate the existence of different languages & currencies which may impede trade more
• Distance between markets influences transportation costs & therefore the cost of imports & exports
• Distance may also influence personal contact & communication, which may influence trade.
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