Fundamental of business: Chapter 5,6,8

1. Explain in a few words what is globalization:
2. State one advantage and one disadvantage for Globalization:
3. Select from one of the following barriers of international trade and explain it: Tariff, Quota, Subsidy
4. What is the purpose for the US CANADA MEXICO agreement:
5. What is the difference between a concentration and a diversification corporate-level strategy
6. What is the purpose of Balance Sheet (make sure to add an explanation for the terms assets, liabilities, equity)?
7. What is the accounting equation?
8. What is the purpose of the Income Statement (make sure to add an explanation for the terms revenues and expenses)?