Examlex
Describe the fourth phase of globalization. What is contagion?
Division of Labor
The breakdown of production processes into distinct tasks, with different workers specializing in each task to increase efficiency and productivity.
Cash Flows
The net amount of cash and cash-equivalents being transferred into and out of a business.
Barter
The direct exchange of goods and services without the use of money as an intermediary.
Money-Based Trade
Transactions involving the exchange of goods or services for money, as opposed to barter trade, where goods are exchanged directly for other goods.
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