Using complete sentences, outline two specific examples of how technological advances make the world seem smaller. Explain what it means to say that the world is "shrinking."
Responses may vary but should include some or all of the following information: Internet and telephone systems allow people to communicate almost instantly with anyone around the world. Modern transportation allows people to travel anywhere in the world within a day or two. Modern Internet and transportation networks allow people to shop worldwide for products and services.
Using complete sentences, describe and analyze one economic connection that ties together cities around the world.
Responses may vary but should include some or all of the following information: People in the US purchase more products from other countries, such as China, than those countries purchase from the US. As a result, other countries have a surplus of US dollars that they invest in US instruments like real estate or treasury bills. That provides those countries the ability to influence the US economy by pulling out their investments. US stock markets allow people to invest in financial products around the world. Stock markets in other countries allow foreigners to invest in the United States. The subprime mortgage crisis that struck the US in 2008 had a worldwide impact because so many people in other countries had invested in US real estate and related financial instruments.
Using complete sentences, analyze the functions of a market. What sorts of markets are found in the world’s global cities?
Responses may vary but should include some or all of the following information: A market is a location for buying and selling products. Markets in global cities provide exchanges for financial products like stocks, bonds, and commercial paper. They also provide a place to buy and sell commodities, such as gold, cotton, oil, or food products.
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