Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

8 Cards in this Set

  • Front
  • Back
Perfect Competition v. mergers, patents and transnational corps
Few, very large businesses with low profits, but high share of the markets.

Transactions within a Large Corp is not efficient

Patents are monopolies
Trade v. Environment WTO
Globalization leads to more pollution... WTO can override national environmental laws
Standards-lowering competition
Externalities are not not counted or legislated against, so as to be more competitive in the International community
Wealth and Power
Large corps are lessefficient, but are able to lobby and effect policy to allow them to thrive
Specialization and Welfare
Less choices for how to earn living, and less choice for different products
Trade and Scale
Environmental dmg might occur in another country, cannot legislate against. Opt for worse environmental production in other countries

Combines resources to reduce limiting constraints on scale
Distribution & Globalization
Capital mobility means that money will flow to absolute advantage, but countries are poorest b.c. they are bad at producing things. Globalization further exacerbates the problem
Food Security and International trade
If there is drop in local poor economy country can no longer buy food. LDCs have higher costs of farming, reduces food prices, hurts local economy