Tuesday, January 6, 2009

Economic Globalization

EXCHANGE RATE: It is a price where the currency of one country can be exchanged for another country's currency

WORLD BANK: It's an organization whose focus is on a foreign exchange reserves and balances a trade

INTERNATIONAL MONETARY FUND: It was set up to lower stuff like trade barriers between countries and to somewhat stabalize currencies by monitoring the foreign exchange systems. 

FREE MARKET ECONOMY: Is where decisions are made by individuals or organization seeking their own advantage. 

FREE TRADE: Interchange of goods and services

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