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Savannah State University POLS 2401 Quiz from Paynes Chapter 8 1)Describe the Silk Road and its relationship to the globalization of free trade

Economics May 31, 2021

Savannah State University

POLS 2401

Quiz from Paynes Chapter 8

1)Describe the Silk Road and its relationship to the globalization of free trade.

2. What is comparative advantage?

3. Describe the accomplishments of the Bretton Woods Conference of 1944

4. Why do trade deficits matter?

5. Describe the “race to the bottom” phenomenon.

6. Why do companies seek lower production costs? Because of computation, money

In what ways to global companies promote equality?

7. Describe 4 controversies related to global trade.

8. How does global trade affect the environment?

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