8Group5

Globalization can be a complicated issue. Adding to the difficulty in understanding this multifaceted subject is that fact that it involves many economic terms and concepts.
 * II. How does Globalization impact individuals and the World? **
 * A. T **ake this quiz [] on economic vocabulary terms that are associated with globalization. Once you are confident that you know what these terms mean, move onto part B.
 * B. **Your group as been assigned the “Pro-Globalization” position. **Decide ** which of the following are points/arguments for “**Pro- Globalization **”. Be sure to **explain ** why each term belongs on your group's assigned side. Some terms can be on **both ** sides of the Globalization debate.
 * Trickle down theory
 * Natural progression
 * IMF and World Bank
 * Weak environmental laws
 * Bubble economies
 * Sweatshops
 * Export economies
 * Specializing in the marketplace
 * Economic convergence
 * Promoting efficiency
 * “Wealth Gap” btw. the rich & poor- The new riches will eventually trickle down to enrich even the poorest of peoples and all the world different ages.
 * Instantaneous global economy- Many often argue that countries that have been highly open to the global economy have generally had more success than those that isolate themselves. In addition, countries that are open to global economy have seen rapid growth and substantial reduction in poverty.
 * North American and European Transnational firms- People who are for globalization want the ferms to be in North America and Europe because they have better pay, safer conditions and better well-being of the workers.
 * Diffusion of technology & ideas-