Globalization I

The process of economic or cultural institutions becoming international in scope. 

• conglomerate

• globalization

• colonialism

The process of transitioning a nation's economy from primarily agricultural to primarily industrial.

• developing country

• corporation

• industrialization

Match the correct Word to it's definition.

• Import

• goods or materials that are shipped to other nations to be sold

• Export

• ​a tax levied on a particular type of import or export

• Tariff

• goods or materials that are brought into a nation from abroad

Match the following

• Horizontal Monopoly

• full control of one stage of an economic process

• Vertical Monopoly

• a company or entity that has exclusive control over supply, sale, or distribution of a product or resource

• Monopoly

• ​full control of the supply chain required for production of a good

What is the WTO? (select all that apply)

•  Settles trade disputes between nations

• A Swedish-based institution 

•  ​World Trade Organization

• All of the above

McDonald's in China is an example of Globalization?

• True

• False

What is NOT Globalization?

• economic systems

• geographic isolation

• group identities spread

• cultural exchange

When people from different areas share language, stories, religions, and ways of life; this is known as...

• cultural exchange

• environmentalism

• tariffs

• totalitarianism

Some nations use tariffs to impede the influence of globalization?

• True

• False

Match the following. What are the Pros and Cons of Globalization? What is the capital of Texas?

• Con

• Capital of Texas

• Austin

• Nations feel culturally attached to one another.

• Pro

• Heavy pollution and environmental destruction.