Globalizatiion

Which of the following are examples of new technologies that reduced the obstacles and transportation costs created by distance during the First Era of Globalization?

• Oceangoing steamships

• New railroad networks

• Suez Canal

• Telegraph lines

Explain why firms or businesses will invest financial capital in foreign countries. Write in complete sentences to receive credit. (Hint: Look on Page 8)

An innovation is

• a traditional way of doing things.

• a new and improved method or technology.

• a waste of time and energy.

How has globalization impacted culture?

• Human migration has increased the presence of cultures outside of their native countries

• none of the above

• Outsourced labor forces are able to share their traditions through new jobs

• Government subsidies have allowed more people to express their culture

Which term describes the increased connection of people, businesses and cultures?

• Rock and Roll

• Globalization

• Outsourcing

• Love

Who believed that a nation's wealth and power could be enhanced by accumulating large stores of gold and silver by means of exporting more goods than it imported?

• Globalists

• Imperialists

• Mercantilists

• Capitalists

Cities often spread out over surrounding areas. This is called

• Urban Sprawl

• Rural Decline

• Urban Decline

• Rural Sprawl

What are some negatives of globalization?

• Loss of culture

• Pollution and deforestation

• Diseases being spread

• All of the answers are correct

Which economist is considered a founder of the classical school of economics which emphasized the benefits of free trade versus the previously held ideas of the mercantilists?

• Milton Friedman

• Adam Smith

• Alfred Marshall

• John Maynard Keynes

How does life differ in rural areas from life in an urban area

• Rural areas have more jobs

• Rural areas have more formal educations than urban areas

• Rural areas often engage in agriculture for income

• Rural areas have more access to technology