Topic

Global commodity chain and its usefulness in studying the global economy.

Instructions

Explain the “global commodity chain” approach and assess its usefulness in studying the global economy.

Answer preview

Global commodity chain can be defined as complex of systems, processes that result in the finished commodity or product. The networks that are found in the global chain commodity connect to production, labor, states, households and ventures to one another in the global financial system. Global commodity chain can be symbolized by nodes that symbolize varying practices in the creation of a product. Every node symbolizes the organization or acquisition of labor clout, inputs that are used in the transportation, practice, consumption and distribution. This means that the association of the nodes is communally shaped.

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