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19: Review Your Knowledge
Describe the flow of goods and services in the global economic system.
How does comparative advantage affect trade with other nations?
Explain the flow of labor among countries.
What are migrants and what role do they play in globalization?
What is the role of multinational corporations in globalization?
Explain the relationship between currency strength and the balance of trade.
Explain the difference between a trade deficit and a trade surplus.
Explain the government's role in global trade.
List examples of trade organizations and their purposes.
Describe what you can do to develop the skills needed to succeed in a global economy.
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