The three driving forces of globalization.

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Answer 1

Question

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

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Answer 2

Question

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

Answer 6

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.

Economics Concept Introduction

Globalization: Globalization refers to the releasing of restrictions like tariff and quota to international trade.

Answer 7

Chapter 24, Problem 1VQP

To determine

The three driving forces of globalization.

Answer 8

Expert Solution & Answer

Explanation of Solution

The important driving forces of globalization in the recent periods are advancing technology, the end of then cold war, and liberalized policies.

a) Advancing technology: Technological progression makes an economy to grow faster and products are available at a cheaper rate in the world market. It also helps people to communicate with the rest of the world easier than before.
b) End of the cold war: After the end of the cold war, the world became more open than before. An increase in transportation and communication, lowering migration restrictions, and cultural changes acted as catalysts toward greater globalization by improving the relations with former enemies.
c) Liberalization: In the recent times, the policies adopted by the government are favorable to free trade, thereby leading to globalization.