IG 401

Draw your definition of globalization.

Globalization is an intensification and expansion of interdependencies and interconnectivity in all aspects of lives in a way that some happenings elsewhere can affect the localities of other countries.

• TRUE

• FALSE

Below are the qualities of globalization, EXCEPT

• New creation and multiplication of social relations

• the expansion and the stretching of social activities

• Intensification and acceleration of social exchanges

• Transformation of localities to globalities

• Changes in the non-material level

Is globalization a recent event?

• YES

• BIG YES

• NO

• None of the above

What inventions do you think have contributed to the growth of globalization? Why?

The intensification and stretching of economic interrelations across the globe is known as...

• political globalization

• cultural globalization

• economic globalization

• ideological globalization

Below are the most significant developments related to economic globalization, EXCEPT

• the internationalization of trade and finance

• the increase in state intervention in economic activities

• the increasing power of TNCs

• the enhanced role of international economic institutions

The benefits of economic globalization include

• enhancement of consumer choice

• increase in global wealth

• spread of new technologies

• global institutions can help secure peaceful international relations

• All of the above

One of the major consequences of economic globalization is

• income disparities between the north and south

• the increase in people's standard of living

• the stability of income

refers to the allocations of manufacturing processes to other countries, especially the developing countries with an aim of lessening the expenses and provide job opportunities to the poor people.

(a)