 We will be watching the video about the population of the world again. I want you to pay attention to the little white dots. There are time periods when those dots will disappear. Keep in mind each white dot represents 1 million people. Do not look away from the video…you might miss something important.

 In your notes in the space below write down some challenges you think the world will face due to population growth. Write down some things that population growth helps.

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 We have already learned that globalization is the creation of a single global economy and community. We will now look at the challenges of globalization.

 Offshoring – Many companies are moving their production facilities to countries where the costs of labor and other productive factors are lower.  Outsourcing – companies hiring other companies, usually over seas, to produce parts or to provide other services.

 Benefits –  People enjoy goods and services from around the world.  Enjoy the benefits of connectivity.  Sped up the pace of economic development  Increased the standard of living  Costs –  Manufacturing has shifted away from countries where labor costs are higher.  Workers have lost jobs in more developed countries.  Workers in newly developed countries are forced to work long hours under harsh conditions.  Increased pollution.  Global climate change  Spread of diseases

 Definition – the exchange of goods and services  Trade occurs because different areas tend to specialize in specific economic activities.

 Natural Resources – come from nature. Examples: Oil and Coal  Climate – factor affecting the location of economic activities. For example, crops can only be grown in certain locations.  Human Resources – workers  Infrastructure – type of capital resources. Investment society makes by building roads, laying railroad tracks, constructing power plants, and setting up phone and Internet lines.

 Productive resources are not spread evenly around the world.  Various parts of the world have different climates, landforms, soils, and minerals.  Farmers are only able to grow crops in certain regions at certain times.  Some regions are unable to grow crops at all.

 This is the world’s most important natural resource.  It shows how things are distributed unevenly.  Oil and natural gas are not found everywhere.  Some countries have no oil and some such as Saudi Arabia have an abundance.

 The number of people available to work.  China has an abundance of workers willing to work for low wages. WHY???  In highly developed countries worker have strong educational backgrounds and have the expertise and knowledge to improve production.

 Each region tends to make certain types of goods based on the productive resources it has available.  Each region will produce those goods and services it can make at the lowest cost.  They are able to make these goods faster and more efficiently.

 Different regions depend on one another for supply many goods and services.  They are exchanged through trade.  Countries and regions export products they make and import products from others.