Global Economy
Definition
The interconnected system of economic activity across national borders. It involves trade, investment, production, and consumption on a global scale.
Analogy
Imagine the global economy as a giant puzzle made up of different pieces representing countries. Each piece is essential for completing the puzzle (global economy), with each country playing its unique role.
Related terms
International Trade: The exchange of goods and services between different countries.
Multinational Corporation: A company that operates in multiple countries.
Globalization: The process through which businesses or organizations operate on an international scale.
"Global Economy" appears in:
Are you a college student?
Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab
Resources
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.