<em>Globalization</em> is a process that aspires to enlarge bussiness operations around the world, making use of technological advancements, as well as political and socioeconomic development.
On developed countries, it was proven beneficial as it led to economic growth. But on developing ones, it was harmful to their economy as the costs of it, outweighted the benefits. Although <em>free trade</em>* boosts opportunities for international trade, it also rises the risk of failure for smaller companies that cannot compete internationally.
*Free Trade: policy that erases discrimination against imports and exports.
Progressive reformers believe that bi<span>g businesses should be regulated by government to help small businesses since they want to eliminate corruption that exists in both business and government. </span>
A traditional economy is described.
A traditional economy is a system in which history traditions, customs and beliefs based in long lasting experience, drive economic choices and activities such as production or distribution. Traditional economies are based on subsistence activities: agriculture, animal husbandry, hunting, fishing, etc. Nowadays this system can be found in developing countries with emerging economies. Traditional economies are considered the starting point of all economies. At some moment, when certain conditions are met, development will be triggered, which means that there will be a transition from this kind of economy to a modern one.
Not sure.I'm having trouble seeing it.Is it math?
