GLOBALIZATION

Which among the following is not a cause of globalization?

• Development of Transportation

• Advancement in Technology

• Faster Way of Communication

• Trade Agreement

• None of these

Choose the best word to complete these statement: Globalization is the free movement of goods, people, and information across __________.

• different people

• the sea and waters

• national borders

• cultures

TRUE OR FALSE: By removing or lowering tariffs, high prices are implemented on imported goods and the consumers benefits largely on lower cost.

• TRUE

• FALSE

• I DO NOT KNOW.

TRUE OR FALSE: Tariffs work by increasing the price of exported goods and protects local products within the same market.

• TRUE

• FALSE

• I DO NOT KNOW.

Association of South-East Asian Nations (ASEAN) is an example of what type of globalization?

• Socio-Cultural Globalization

• Economic Globalization

• Political Globalization

Agreement between two countries that agree to loosen trade restrictions between the two.

• Unilateral Agreement

• Bilateral Agreement

• Multilateral Agreement

• Free Trade Agreement

Due to the interconnectedness of people in the world and free trade of goods it has turned the world into a ________ .

• Market

• Global Village

• Stock Market

• World Bank

Production of goods are moved from developed countries to developing countries to ________.

• to lower transportation

• lower the maintenance

• lessen the production

• lower labor cost

The following are advantages of globalization, EXCEPT:

• Globalization paves way for a worldwide market.

• Globalization allows many rich companies to act with less accountability.

• We become socially open towards other cultures.

• There is cultural intermingling.

Child labor can be an effect of globalization.

• TRUE

• FALSE

• I DO NOT KNOW.