IGCSE Business 6 ELS

Globalalisation means

• national interaction between all types of business

• refers to the integration and interconnection of businesses all over the world

• refers to the worldwide movement toward cultural interconnection

• is a result of massively increased European trade and cultural exchange.

A negative effect of globalization is _________.

• a.better jobs

• b. the ability to communicate with people all over the world

• c. technology

• d. loss of jobs

Why do goods and services move around the world faster than ever?

• Free trade agreements, and technological advancements.

• The United Nations

• Space Travel

• Magic

One way international trade created new opportunities for impoverished people?

• People can sell their products in a global marketplace.

• Farmers can sell their products online

• People can get rid of stuff they don't want anymore.

• Consumers can profit from the competitive prices of foreign products

Identify all winners and losers of clothing production being globalized?

• Corporations and the stockholders earn more profit.

• Consumers win by obtaining cheaper products.

• Losers are high wage workers who lost jobs that go overseas.

• All of the above

Globalization has led to a _____ variety of goods.

• lesser
• smaller
• wider
• restricted

Globalisation is:

• the introduction of the internet to make us closer to others in the world.

• the breakdown of traditional barriers between nations through technology and transport

• faster travel around the world

• the movement of ideas around the world.

Globalisation is good because of an ________________ in standard of living , but is bad because there is a _____________ in local cultures and traditions

• increase / decrease
• decrease / increase
• increase / increase
• decrease / decrease

Falling transport costs due to containerization is mostly a /an ___________ type of globalisation

• Economic

• Technological

• Political

• Social

Factories or other aspects of industry or business are relocated to a pace that is cheaper to do business.

• Offshoring

• Outsourcing