Define Globalization and Describe Its Impact on Resources and Barriers

question 164

Essay

Define globalization and describe its impact on resources and barriers to international trade.

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Definitions:

Depreciation

The method by which a company allocates an asset's cost over its useful life, reflecting the consumption of the asset's economic benefits.

Disposable Income

The reserve of funds households possess for spending and saving after income tax payments.

Savings

The portion of disposable income not spent on consumption of goods and services, set aside for future use.

Disposable Income

Net financial resources for households to allocate towards spending and savings after income taxation.