The Contemporary World Fun Game

The term “globalization” is derived from the word “globalize” which refers to the emergence of an international network of economic systems.

• TRUE

• FALSE

Which picture depicts our contemporary world?

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World economy is not exclusively limited to human economic activity and is not judged in monetary terms.

• TRUE

• FALSE

Which is not a component of globalization?

• Economic globalization

• Cultural globalization

• Citizen globalization

• Political globalization

When prices among different location or related goods follow the same pattern over a long period of time, ________________ exist.

• globalization

• world market

• market integration

• foreign direct investment

New technology created the connections that propelled globalization.

• TRUE

• FALSE

The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. Which is the logo of WTO?

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It is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

• World Bank

• International Monetary Fund

• United Nations

• World Trade Organization

The general complaint about globalization is that it has made the rich richer while making the non-rich poorer.

• TRUE

• FALSE

Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.

• TRUE

• FALSE