Terms in this set (36) Which of the following best defines the term commodity? a. A physical object we find, grow, or make to meet our needs and those of others.
What best defines the term commodity?
A commodity is a basic good used in commerce that is interchangeable with other goods of the same type. Commodities are most often used as inputs in the production of other goods or services. When they are traded on an exchange, commodities must also meet specified minimum standards, also known as a basis grade.
During what time period did economics begin to develop globally?
The development of economies on a global scale took off in the mid-20th century.
What is the significance of Nafta quizlet?
What was the significance of NAFTA? It encouraged trade with North Korea, which had previously been embargoed. It allowed freer trade opportunities for the United States, Canada, and Mexico. It forbade trade with any country that didn’t use a capitalist government.
Which of the following statements about Occupy Wall Street would most align with the conflict theory perspective?
Which of the following statements about Occupy Wall Street would most align with the conflict theory perspective? Occupy Wall Street is positive; our capitalist economy is only making social inequality grow larger.
What is a commodity quizlet?
Commodity. A raw material or primary agricultural product that can be bought and sold, such as copper or coffee. Consumer.
Which of the following best defines the term Patrimonialism?
Which of the following best defines the term patrimonialism? A type of authority wherein military and administrative factions enforce the power of the master.
What is the most important commodity in a postindustrial society?
Postindustrial societies, also known as information societies, have evolved in modernized nations. One of the most valuable goods of the modern era is information. Those who have the means to produce, store, and disseminate information are leaders in this type of society.
Which of the following best defines a social movement?
Which of the following best defines a social movement? A purposeful organized group hoping to work toward a common social goal.
What is the globalization of business?
The official definition of “globalization” is the process by which businesses or other organizations develop international influence or start operating on an international scale. More simply, globalization refers to an open flow of information, technology, and goods among countries and consumers.
What is NAFTA in your description of NAFTA include the following which nations belong to NAFTA its purpose its benefits and its issues?
NAFTA’s purpose was to encourage economic activity among North America’s three major economic powers: Canada, the U. S., and Mexico. Proponents of the agreement believed that it would benefit the three nations involved by promoting freer trade and lower tariffs among Canada, Mexico, and the United States.
What is NAFTA and why was it created quizlet?
The North American Free Trade Agreement (NAFTA) was formed on January first 1994 with which Canada, Mexico, and the United States came into action. importance. It’s important because NAFTA is trying to get rid of barriers and tarrifs. It also tries to invest and trade between Canada, the US, and Mexico.
What was the main purpose of NAFTA?
The agreement came into force on January 1, 1994. The goal of NAFTA is to eliminate all tariff and non-tariff barriers of trade and investment between the United States, Canada and Mexico.
Which of the following is an example of convergence theory in action group of answer choices?
Which of the following is an example of convergence theory in action? Germany rebuilt its economy after World War II, creating more job opportunities and prosperity for its citizens.
Which is evidence that the United States workforce is largely a meritocracy?
Which is evidence that the United States workforce is largely a meritocracy? Highly skilled jobs pay better than low-skill jobs.
What is the functionalist perspective?
The functionalist perspective sees society as a complex system whose parts work together to promote solidarity and stability. This approach looks at society through a macro-level orientation and broadly focuses on the social structures that shape society as a whole.
What is a commodity quizlet business?
Commodity is a TANGIBLE asset that is typically relatively homogeneous in nature. Because of their relative homogeneity, commodities lend themselves to being the subject of contracts to buy and sell that have standardized terms (as in futures market contracts).
Is gold a commodity?
Gold is a commodity that has always stood apart, but there have been recent market developments that build on its existing differentiators while illustrating the importance of its role in a portfolio. Gold’s volatility has been stable despite the variability in equities, bonds, and alternative assets.
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