Globalization

Globalization

Word Cloud

What is globalization?

Globalization

actions that involve the entire world or make something worldwide in scope

Poll

Is globalization beneficial or harmful?

• beneficial

• it depends

• harmful

Multiple Choice

Only goods (physical items) can be globalized.

• True

• False

Globalized non-goods?

Multiple Select

Globalization has increased over time due to improvements in ______ technology(ies).

• transportation

• weapons

• communication

• leisure

Multiple Choice

What is comparative advantage?

• The ability to produce a good or service at a higher cost than others

• The ability to produce a higher quality good or service than others

• The ability to use your power to influence trade over others

• The ability to produce a good or service at a lower cost than others

Multiple Choice

In order to save money, some companies have moved elements of their business operations to other countries. What is this process called?

• red slipping

• outsourcing

• consolidating

• furloughing

Multiple Choice

The most common reason that companies outsource is to save money on:

• materials

• energy

• labor (worker wages)

• taxes

When companies use their comparative advantage and outsource to save money, how do we (the consumers) benefit?

Word Cloud

What is a negative effect of comparative advantage trading and outsourcing, generally?

very small processors (microchips) that quickly process electronic information

Semiconductors

Multiple Choice

Where are the majority of the world's semiconductors manufactured?

• East Asia, particularly Taiwan.
• Europe, especially Germany.
• North America, particularly California.
• South America, mainly Brazil.

​Semiconductor Manufacturing (2019)

Multiple Choice

Today, 80 - 90% of the world's trade takes place:

• on railways

• on roadways

• over water

• in the air

Multiple Choice

Because the shipping costs are so low, what types of products are MOST LIKELY to be manufactured in foreign countries?

• big, bulky items

• technologically advanced items

• small and/or light items

Multiple Choice

Based on this, what sort of product is most likely to be manufactured in the U.S. (or North America, generally)?

• clothes

• cell phones

• cars

• kitchenware (plates, glasses, etc.)

Multiple Choice

When trade is NOT restricted and left to its "natural" (economic) course, what is this called?

• fair trade

• open trade

• free trade

• expansive trade

If a country wants to protect its own businesses (and jobs) from outside competition, it can pass ____ ; which are taxes applied to foreign imports, making them more expensive than the "home made" versions.

Multiple Choice

These are taxes applied to foreign imports, making them more expensive than the "home made" versions.

• tariffs
• quotas

• bonds

• mandates

Multiple Choice

What is negative effect of tariffs?

• The prices of just about everything increases.

• The prices of just about everything decreases.

Word Cloud

Why are American-made products so expensive? Or, why is it more expensive to make products here, in America, than in other countries?

CONCLUSION

Multiple Choice

Globalization has led to an increase in the exchange of ideas and technologies around the world.

• True

• False

Multiple Choice

Through increased competition, globalization decreases efficiency and innovation.

• True

• False

Multiple Choice

Globalization has increased the wealth and/or life expectancies of all countries globally.

• True

• False

Multiple Choice

Globalization leads to higher profits for companies and lower prices for consumers.

• True

• False

Multiple Choice

Globalization has benefitted all countries equally.

• True

• False