globalization

media type="youtube" key="3oTLyPPrZE4" height="315" width="560" www.youtube.com/watch?v=3oTLyPPrZE4

Globalization has been made possible and profitable due to 3 main factors. Your teacher will give you a worksheet. Watch the video and complete the worksheet.

**Key Vocabulary**

ramifications = results or effects of something

stakeholder = a person, group, organization, or system who affects or can be affected by an organization's actions

freight = goods transported by truck, train, ship, or aircraft

container = large steel box used to transport or export goods

tariffs - import taxes

import quotas = limits on how many goods can be imported

ten-//fold// = 10X

to exert (pressure) on someone = place or put (pressure) on ...

diversity = a range of different things

to flood a market = put too many products in the market

to counter = act against / oppose