In the “Big Thinkers” video about whether the world is flat, Indian technology entrepreneur Nandan Nilekani cites the case of Pizza Hut in India as proof that globalization is leading to the homogenization of cultural tastes and preferences.

David Ricardo’s theory of comparative advantage attempts to rationalize why some countries export automobiles, consumer electronics, and machine tools, while other countries export chemicals, watches, and jewelry. This rationalization is best explained in terms of

A firm must become a multinational enterprise to engage in international business.

According to _______, subsidies can help a firm achieve a first-mover advantage in an emerging industry.

According to critics of globalization, the fact that young people the world over eat McDonald’s hamburgers, wear clothing made by Spanish company Zara, and listen to pop stars like Drake (Canadian) and Rihanna (Barbadian) on their iPhones shows that consumer tastes are becoming _______.

After the collapse of communism in Russia, successful business owners often had to pay “protection money” to the Mafia or face violent retribution. This is an example of:

Privatization occurs when state-owned property is transferred into the hands of individual investors.

A neo-mercantilist strategy would promote

There is wide agreement amongst economists that __________ is the engine of long-run economic growth.

Princeton economic historian Harold James believes that the COVID-19 pandemic has ushered in the end of globalization.