Globalization

Why do regions specialize in their economic activities?

One benefit of globalization is greater connectivity.

Because regions specialize, they always produce everything they need.

__ led to the European colonization of Africa.

__concluded that specialization (division of labor) that made countries wealthy.

Globalization includes the worldwide movement of biological viruses and greenhouse gasses.

The creation of fossil fuels depends on organic matter, __, temperature, and pressure.

___ determines where many productive resources are located.

Captial resource is a type of productive resource.

___ is trade that is mutually beneficial.

Andrew Smith said that it is trade that makes people better off.

One benefit of globalization is that diseases spread faster resulting in pandemics

The process that creates natural gas involves further decomposition turning into a gaseous form.

Countries that do not trade with the world are not as economically developed as they could be.

The EU was created to exclude hostile regions.

Some countries reacted to the influx of cheap British goods by __.

The invention of the _ made land routes obsolete.

Globalization was the direct result of the Silk Road.

The U.S. imports 2% of its shoes from Aisa.

a network of trade routes – the foundation of globalization

__ leads to inefficiency and inefficiency leads to poverty.

Entrepreneurship is a Productive Resource

_ is a greenhouse gas.

_ was transported in hollow quills of feathers across the desert by camels to market

The process by which a company hires other companies to perform some of its work.

All resources used to make goods and services.

The United States is the leading manufacturer and exporter of __.

The most important strand on the Silk Road was the _.

The Euro is the 2nd most widely used currency in the world.

Pirates and robbers were obstacles to _ in ancient Egypt.

At one point in history, nutmeg was worth more than gold.

Gun powder spread from China to the _ along the Silk Road.

_ considered a natural resource of ancient Egypt.

Infrastructure is a type of __ resource.

_ are the largest emitters of carbon dioxide.

Law, banking, and powerplants are all examples of infrastructure.

_ are responsible for spreading goods, ideas, and technologies between cultures by way of the Silk Road.

The European Union established ____ from one member country to another member country.

Ancient Rome traded precious metals for marble and spices.

It wasn't until the __ that people saw significant improvements in their standard of living.

Emerging Atlantic trade routes caused a major shift in __.

One benefit of globalization is an increase in pollution.

The practices of moving production overseas.

Who wrote The World is Flat reflecting the creation of a single global economy?

Economic specialization leads to trade.