Brush up!

Activity 1: Essay
Answer the following questions. Write atleast 10-15 sentences. submit it Microsoft word file.

1. Differentiate Global Economy and modern system

-Global economy refers to the interconnected worldwide economic activities that take place between
multiple countries. It refers to the exchange of goods and services between different countries, and it
has also helped countries to specialise in products which they have a comparative advantage in. While
Modern Systems is a leading global provider of modernization solutions for legacy application source
code, data and platform transformations.

2. What is the importance of international financial institution to countries of the world?

-The importance of international financial bodies have to play the role of changing market positions. The
traditional objectives of some of these institutions such as the World Bank and the IMF entail elevation
of poverty in developing countries, enhancing measures that promote economic growth and protection
of the environment.

Rubrics:
Relevance to the topic 50%
Creativity 25%
Effectiveness/ Neatness 25%
__________
100%
Activity 2: Create an image and describe your image.
Description:
-Global economy is the exchange of services and goods into a hug single global market. This is unending
that inhabited by marketing individuals or companies that joined the geographical world. This is also a
process of interaction among people. This has an intent of conducting research, making things that are
for sale and also for development.

Self Reflection:

1.What is the significance of Global Economy

-The significance of global economy is it increases the quality-of-life for the poorest people, since they
have a larger market which provides a greater supply for market demand, and greater competition.
For example, if America can produce rice for $1/kilo and cars for $20k each, while Japan produces
equal-value rice for $2/kilo and cars for $10k each, then their globalization can benefit both by
allowing the USA to sell more rice and Japan to sell more cars, while citizens in both countries can get
more of both.

2. What is the importance of international financial institution to countries of the world.

-The importance of international financial bodies have to play the role of changing market positions.
The traditional objectives of some of these institutions such as the World Bank and the IMF entail
elevation of poverty in developing countries, enhancing measures that promote economic growth and
protection of the environment.