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: Global Marketing Questions and Answers Level A+ 2023

globalization - -refers to the processes by which goods, services, capital, people, information, and ideas flow across national borders -globalization of production - -also known as offshoring -... globalization of production - -refers to manufacturers' procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of various factors of production -General Agreement on Tariffs and Trade (GATT) - -organization established to lower trade barriers, such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders -World Trade Organization (WTO) - -replaced the GATT in 1994; is an established institution based in Geneva, Switzerland, instead of simply an agreement; represents the only international organization that deals with the global rules of trade among nations -International Monetary Fund - -established with the original GATT; primary purpose is to promote international monetary cooperation and facilitate the expansion and growth of international trade [Show More]

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