Globalization: The Beginning

The primary economic system in the 1400s...

• laissez faire

• free markets

• mercantilism

• capitalism

The driving force behind Globalization Phase I

• consumers

• companies

• individuals

• countries

Which of the following are NOT components of Globalization?

• trade agreements

• balanced trade

• fair trade

• interdependence

Which was a major focus of mercantilism?

• free trade

• fair trade

• laissez-faire

• trade balance

A mixed economic system...

• Globalization Phase II

• Globalization Phase I

• Globalization Phase IV

• Globalization Phase III

Adam Smith would most likely support

• Globalization Phase I

• Globalization Phase II

• Globalization Phase III

• mercantilism

Connected to feudalism

• surfs

• serfs

• smurfs

• sailors

Mercantilism was about

• stockpiling currency

• hoarding precious metals

• accumulating precious stones

• fair trade

Protectionism is most connected with

• Globalization Phase I

• Globalization Phase II

• Globalization Phase III

• Globalization Phase IV

Commercial slavery was globally banned.......

• Globalization Phase I

• Globalization Phase II

• Globalization Phase III

• commercial slavery is still legal globally