Module 5 Lesson 4 - Living in a Global Economy

Tariffs, quotas, and embargoes are examples of _____________________.

• interdependence

• trade barriers

• consumer incentives

occurs when countries depend on each other for resources, goods, or services.

• trade barriers

• common economies

• interdependence

The process in which countries are linked to one another through culture and trade is called globalization.

• TRUE

• FALSE

Culture traits such as food, music, movies, and sports are examples of __________.

• globalization.

• popular culture.

• economic interdependence.

Intangible assets are not physical objects, but they still have value.

• TRUE

• FALSE

As a result of globalization, there is more interdependence among countries.

• TRUE

• FALSE

Apple, Nike, and Toyota are examples of __________.

• market economies

• trade barriers

• multinational corporations

To keep costs low, companies often build their manufacturing plants in locations where raw materials or labor is cheapest.

• TRUE

• FALSE

The __________ provides loans for large projects in countries that need them, but might not otherwise be able to pay for them.

• Salvation Army

• World Health Organization

• World Bank

A tax that must be paid on imported items

• quota

• tariff

• embargo