Unit 1 Career Exploration
Copyright Goodheart-Willcox Co., Inc.
The standard of living in many countries has increased due to increased
international trade.
The global economy has caused a major shift in the US workforce.
A global economy is a fi nancial interconnection among the countries
of the world. Companies once reached no further than their
neighborhoods to fi nd customers. Today, that search takes them beyond
the nation’s borders to every part of the world. Companies also reach
beyond their nation's borders for workers.
Globalization is the integration of markets, technology, and
resources among the economies of nations. Globalization involves
the movement of money, material resources, and human resources
among nations. An increasingly globalized economy has reduced
the need for unskilled labor in the United States since a vast supply
exists in other parts of the world. Instead, skilled, well-educated
US workers are needed to plan, develop, and deliver products and
An increasing amount of unskilled work is performed by
workers outside of the United States. Outsourcing is the practice
of having an outside provider complete work previously done by
company employees. Outsourcing is often done to handle work
more effi ciently and keep costs in line. By outsourcing work,
companies can get products quickly and often less expensively.
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