Exam 3 covers chapters 7 8 and 9place making economics and a

Exam #3 covers chapters 7, 8, and 9-place making, economics, and agriculture. The short essay questions are the following 1. What is the new international division of labor and how does it differ from the \'old\' international division of labor? 2. What does globalization means specifically in terms of the economy? What is new in the era of \'globalization?\' 3. Where do we see the heritage industry developing in Baltimore? 4. What are the new geographies of global \'office\' and how has the development of the \'global office\' affected the economic geography of the world?

Solution

The new international division of labour is a consequence of globalization. This mainly explains the special shift of manufacturing industries from the advances capitalist nations to the third world developing countries. This Is mainly an ongoing reorganisation of the production process where the ideas are rooted to the global division of labour. It is the division of labour where the production process is not restricted to the national economies. In the “old” international division of labour, till the 1970s , the less developed areas were unified with the world economy as suppliers of minerals and agricultural commodities. However with the merge of the developing countries, more production takes place .