ASSIGNMENT NO. 1 THE CONCEPT OF GLOBALIZATION
MA. KRISTINA O. BUNA GE103 (BSED 1-E)
Globalization places an important role in society as well as in our community.
Globalization, most often refers to the increasing degree of connection
between various countries and their economies. But another definition
involves the efforts of businesses to expand their operations into foreign
markets. This definition has gained importance with the advent of the
internet, which gives all companies the potential to achieve global reach in
their operations
Here is the concept of globalization:
1. INTERNATIONAL ECONOMICS AND TRADE

Trade is a fundamental economic concept involving the purchase and sale of goods and
services, with compensation paid to a seller by a purchaser or the exchange of goods or
services between parties. Trade can take place in a producer-consumer economy.

Under this are: (outsourcing, inequality, trade agreements, free trade, loss of industry
and small businesses, multinational corporations and global supply chains).
2. BALANCE AND POWER

The state of stability between competing forces. In international relations, it
refers to the equilibrium among countries or alliances to prevent any one entity
from becoming too strong and thus, gaining the ability to enforce.

Example of these is: (the country of China taking advantage to the Philippine is
the Scarborough Shoal standoff, overextending the power, competition, cooperation
and loss of international clout)
3. COMMUNITY

Global describes the world. Community refers to people who live in the same area and
share common characteristics or interests. Global community refers to the growing
interconnectedness of people around the world.

Example of these is: (global citizenship, homogenization and being aware of current
events)
4. IMPORTATION AND EXPORTATION EXCHANGE

Exporting refers to the selling of goods and services from the home country to a foreign
nation. Whereas, importation the act of introducing new goods, customs, or ideas into a
country from another country.

Example: (selling and introducing the goods or products)
5. ADVANCEMENT OF TECHNOLOGY

Reduce costs of transportation and communication across nations and thereby facilitate
global sourcing of raw materials and other inputs.

Example: (technology allowing communication across countries, automation and social
medias.)
INTERNATIONAL
ECONOMICS AND
TRADE
BALANCE
AND
POWER
GLOBALIZATION
IMPORTATION
AND
EXPORTATION
COMMUNITY
ADVANCEMENT
OF
TECHNOLOGY