8Group3

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- provide jobs, cheep labor, and can make money even in a bad economy.
 * Export economies- opens up markets so you can sell more.
 * Specializing in the marketplace- you sell something that no one else can produce, therefore you make more money.
 * Economic convergence- help the third world countries catch up to the rest of the world.
 * Promoting efficiency- they make the best product for the cheapest amount of money, and it eliminates bad companies.
 * “Wealth Gap” btw. the rich & poor
 * Instantaneous global economy
 * North American and European Transnational firms
 * Diffusion of technology & ideas