Globalization

a.What is globalization, and what are some of the traditional international occupation theories that choke the concept of globalization?Globalization is the shift to a to a greater extent integrated and independent world economy (Hill, 2004). Globalization is the branch of worldwide trade by which is intended to increase jacket and economic gain for all participating countries while increase global citizenship. Much controversy exists pertaining to globalization; some heap find globalization has a negative impact on the local economy because the belief is with globalization many jobs willing be eliminated. Others feel the opportunities equate to more jobs and the possibilities of economical gain.

roughly of the traditional international trade theories that support the concept of globalization are;1.The absolute advantage theory as ex Smith describes occurs when a country is much more economic at producing a growth then any separate country and should specialize in the production for trade with other(a) countries.

2.Comparative advantage when defined as productivity differences tells us that twain countries producing the same products, but in different capacities, could benefit if the parallelism is that the two countries focus on the product that has the highest yield from the individual country. This focus would increase production thus lowering the cost of goods sold.



When one country can produce more of a product at a cheaper rate then the other country and visa-versa then the opportunity to trade is the worldwide food market increases where both countries would benefit.

3.Product life cycle theory describes the international trade patterns that are influenced by where the product is introduced. When I think of the product life-cycle theory, I think ab bug out when Hewlett Packard (HP) began developing specific electronics out of a garage in Palo Alto California and how the products evolved into a worldwide commerce. A commodity that started here in the united States...

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