Globalization (or globalisation) describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade.
Internet is a example of globalization because people can connect with others no matters the distance.
Outsourcing Outsourcing is often viewed as involving the contracting out of a business function - commonly one previously performed in-house - to an external provider.
The venezuelan iron is an example of outsourcing because we export it to other countries as raw material.
Domestic trade Domestic trade or Internal trade is the exchange of good, services, and capital within a sovereign state's borders or territories.
The cattle is an example of domestic trade because it is raised in states like Guarico and sold in states like Caracas.
Factors of production Factors of production (or productive inputs or resources) are any commodities or services used to produce goods and services.
A boat is a factor of production because you use it to fish and then you sell the product.
Globalization
Globalization (or globalisation) describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade.Internet is a example of globalization because people can connect with others no matters the distance.
Outsourcing
Outsourcing is often viewed as involving the contracting out of a business function - commonly one previously performed in-house - to an external provider.
The venezuelan iron is an example of outsourcing because we export it to other countries as raw material.
Domestic trade
Domestic trade or Internal trade is the exchange of good, services, and capital within a sovereign state's borders or territories.
The cattle is an example of domestic trade because it is raised in states like Guarico and sold in states like Caracas.
Factors of production
Factors of production (or productive inputs or resources) are any commodities or services used to produce goods and services.
A boat is a factor of production because you use it to fish and then you sell the product.