Rise of Global Corporations

• Transnational Companies are companies that operate in more than one country.
• Trade policies defines standards or trade agreements between countries.
• Trade liberalization or free trade is a trade policy in which goods move easily around the world without any limits.
• Tarif refers to the price imposed on a foreign product.
• Capitalism is an economic system in which private individuals or businesses own capital goods.
• Protectionism is a policy of systematic government intervention in foreign trade with objective of encouraging domestic agencies.
• Oligarchic Capitalism is when a small group of elite capitalists (oligarchs) takes over the government and controls the economy.
• State-Guided Capitalism is when the economy is mostly controlled by the state (government).
• Corporate Capitalism are when big companies (corporations) have a controlling position on the market.
• Entrepreneurial Capitalism is unlikely to exist for very long as it is small scale and there are only limited owners.
• Laissez-faire Capitalism is based on letting people do as much as they want; purest form of a free market.
• Welfare State Capitalism is based on using state to redistribute some of the resources of the economy.