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GLOBALIZATION: The generalized expansion of international economic activity which includes increased international trade, growth of international investment (foreign investment) and international migration, and increased proliferation of technology among countries. Globalization is the increasing world-wide integration of markets for goods, services, labor, and capital. It is an ongoing process that started several centuries ago. However, most people would agree that today we are in a period of rapid globalization as international economic activity has accelerated in the last 200 years or so.
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NET EXPORTS DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the net exports line is constructed and which cause the net exports line to shift when they change. Some of the more important net exports determinants are global economic conditions, exchange rates, and trade barriers.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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NDP
Net Domestic Product
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