is a metric that explains how closely related different markets are to one another. It occurs when prices in different markets follow the same patterns over the time.

-everyone and in different countries there are different cultures thus, different countries also have different buying cultures.

-the companies or businesses have to study market Integration and have strategies to be able to expand their business all over the world.

-market integration provides an increase in financial and economic efficiency that leads to higher economic growth.

Market Integration has the potential to increase asset return volatility, as well as to cause financial instability and contagion effects. In that case, they can survive the rapid change in the market world.

We often think of economy as something that covers a wide variety of financial aspects like employment, Gross Domestic Product (GDP) or the stability of stock markets. However, we must understand that the economy is composed of people. It is the social institution that organizes all productions, consumptions and trade of goods in the society.

We often think of_______as something that covers a wide variety of financial aspects like employment, Gross Domestic Product (GDP) or the stability of stock markets.

is a financial institution that has been established (or chartered) by more than one country, and hence are subjects of international law.

An international financial institution is a (1)________that has been (2)________(or chartered) (3)_________and hence are subjects of international law. Its (4)_____or shareholders are generally (5)___________, although other international institutions and other organizations occasionally figure as shareholders.

expression of currency in terms of gold or gold value to establish a par value (Boughton, 2007)

"the official monetary authority in each country (a central bank or its equivalent) would agree to exchange its own currency for those of other countries at the established exchange rates, plus or minus a one-percent margin" (Boughton, 2007, pp. 106-107).

the establishment of an overseer for these exchange rates; thus, the International Monetary Fund (IMF) was founded.

It was established in 1947 [Goldstein et al., 2007).

It was a forum for the meeting of representatives from 23 member countries. It focused on trade goods through multinational trade agreements conducted in many rounds of negotiation.

It is an independent multilateral organization that became responsible for trade in services, non-tariff-related barriers to trade, and other broader areas of trade liberalization.

The IMF's main goal was to help countries which were in trouble at that time and who could not obtain money by any means.

OECD aims to promote policies to make the world richer, freer, fairer, and more stable, not only for members but also for non- member countries. Simply put, promoting better policies for better lives is what the OECD is aiming for.

It is highly influential, despite the group having little formal power. This emanates from the member countries' resources and economic power.

In 1960, the___________was originally comprised of Saudi Arabia, Iraq, Kuwait, Iran, and Venezuela. They are still part of the major exporters of oil in the world today.

OPEC was formed because member countries wanted to increase the price of oil, which in the past had a relatively low price and had failed in keeping up with inflation.

Most members in the Eurozone adopted the euro as basic currency but some Western European nations like the Great Britain, Sweden, and Denmark did not.

It is made up of 28 member states.

is a trade pact between the United States, Mexico, and Canada created on January 1, 1994 when Mexico joined the two other nations.