Globalization Is Described as the Creation of a Single World

question 41

Essay

Globalization is described as the creation of a single world market.You can see evidence of globalization in every store,and in most products.You can also see it in the shifting of labour intensive industry to low wage cost countries.As Canadians we are generally in support of free trade.Using appropriate trade theories explain why freer trade is particularly beneficial to Canada and to our trading partners.

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Definitions:

Foreign Investors

Individuals or entities from one country investing in the assets or businesses of another country.

Mutual Mistake

An error shared by all parties to a contract, possibly making the agreement voidable.

Unilateral Mistake

A situation where only one party to an agreement is mistaken about a basic assumption on which the contract is made.

Equity

The value of ownership interest in property, including shareholders' equity in a corporation, minus liabilities and debts.