The USA started exporting and importing goods with other countries. So, to keep up with demand, we had to produce more, which led to factories and labor unions. Also, the Railway Act that President Lincoln signed helped spur the Industrial Revolution
The internet provides more communication, and allows firms to operate annually. Air travel achieves connectivity as larger aircraft such as the Airbus A380 and Boeing 747 can carry more passengers and provide cheaper flights and global tourism. GIS/GPS satellites allow information to pass around the world. Rail increases more connectivity such as high speed rail link such as the TGV in France, and the Japan bullet train makes travel much faster. All these factors ‘shrinks’ the world and makes it more connected.
Explain the term ‘globalisation’ and the role that multinational companies play in the development of globalisation. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services and has therefore lead to increased trade between countries. This trade encourages countries to work together and removes trade barriers such as quotas and tariffs. This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country.
1. Globalization has _____ the opportunities for a firm to expand its revenues by selling around the world and _____ its costs by producing in nations where key inputs are cheap. | | | Student Response | A. | Reduced, reduced | B. | Increased, increased | C. | Increased, reduced | D. | Reduced, increased | | | 2.
The Progressive Era was a time of reform as well as an industrial boom. New ideas and new ways of going about life, awakened people’s mind to the possibility of something better for them. The middle class started to grow, which boosted the national economy, because they were consuming more. In addition, monopolies started expanding their power over the national economy. A few groups became enormously wealthy and possessed great influence.
Both economics and politics experienced radical changes during the Early Republic period in America. Remarkably subtle but undoubtedly significant was the development of a recognizable middle class during the Early Republic. This revolution can be attributed to what Wood refers to as a “consumer revolution of immense importance” and through the pervasive spread of commerce. A newfound appreciation for domestically internal trade and the recognition of the significance of this internal trade increased prosperity and gave more people enthusiasm for business. The quantity of those involved in buying and selling increased exponentially and in response, the development of modern day concepts such as businessmen and entrepreneurs arose.
Explain the main factors that have accelerated globalisation? Globalisation is the process which people, culture, money, goods and information can be transferred between countries with little or no barriers. It the gown of links and interdependence between countries. The factors that have accelerated globalisation; better technology in travel, improved communications, and open trade. Planes are now more efficient, larger and air travel is now cheaper which increases the number of customers.
This will allow different parts of the world to enjoy merchandise that is specific to one country. Throughout the past it has been proven that by introducing industries’ and the use of globalization has strengthened a country’s economy. I am a pro economic globalization because I feel that we need to change the way of the past if nothing seems raise the economic standards. Hopefully we will be able to realize that economic globalization is working so we can help countries quickly and efficiently. Economic globalization has attracted much debate throughout society today.
Advanced manufacturing technologies have altered long-standing patterns of productivity and employment. [The improvements in] air and sea transportation [have] greatly accelerated the worldwide flow of people and goods” to the greater expanses of the globe (Globalization of Technology: International Perspectives, p. 1). With all of the abilities of the new technologies, undeveloped countries will be back in the game, so to
It grew in numbers as well as locations and factories. The growth was a great contributory factor in the Industrial Revolution. It allowed higher wages, allowed better diets, made urban places better, and also brought people together in cultures. The Industrial Revolution impacted America economically, socially, politically, and morally. It has helped us to bring the world to where it is in the present.