The worldwide trade and exchange of goods, including raw materials, manufactured products, foodstuffs, and luxury items.
Think of the global circulation of goods like a giant international potluck dinner. Each country brings its unique dishes (goods) to share with others. Some countries might bring spices (India), some might bring electronics (Japan), while others may bring oil (Saudi Arabia). This way everyone gets to enjoy a variety of dishes they wouldn't have had access to otherwise.
Trade Routes: These are the paths or networks used for the exchange or transportation of goods between different regions or countries.
Globalization: This is the process by which businesses or other organizations develop international influence or start operating on an international scale, often driven by trade and investment.
Commodities: These are raw materials or primary agricultural products that can be bought and sold, such as copper or coffee.
Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab
© 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.