Globalization Day 1 and 2

Which of the following is true about the American film industry and ticket sales today?

(a)  

• The international market is becoming more profitable than the domestic market.
• The domestic market is becoming more profitable than the international market.
• The domestic market and the international market are of roughly equal importance and profitability.
• The domestic market and the international market vary in profitability depending on the year.

Which of the following best describes Globalization 1.0? *

(a)  

• Foreign trade is limited to a minority of goods, and transportation is slow and dangerous. Most goods are produced locally.
• There is no trade and all forms of economic activity are self-sufficient.
• Foreign trade is common, and it is easy to transport goods over vast distances in a short amount of time reliably.
• Information can move almost instantaneously, instead of goods being produced at a single location, free access to communication allows production to be split up into a global supply chain.

Which of the following best describes Globalization 3.0? *

(a)  

• Information can move almost instantaneously, instead of goods being produced at a single location, free access to communication allows production to be split up into a global supply chain.
• There is no trade and all forms of economic activity are self-sufficient.
• Foreign trade is limited to a minority of goods, and transportation is slow and dangerous. Most goods are produced locally.
• Foreign trade is common, and it is easy to transport goods over vast distances in a short amount of time reliably.

What primarily caused the shift from Globalization 1.0 to Globalization 2.0? *

(a)  

• Advancements in transportation.
• Advancements in business organization.
• Advancements in communication.
• Advancements in political systems.

What primarily caused the shift from Globalization 2.0 to Globalization 3.0? *

(a)  

• Advancements in communication.
• Advancements in business organization.
• Advancements in transportation.
• Advancements in political systems.

What best describes how Globalization 4.0 is described in the video? [Which we have not achieved yet] Choose 2 answers.

(a)   (b)  

• Artificial Intelligence and robotics automating a majority of services.
• Someone being in one location providing a service in a completely different location remotely.
• Producing goods in many different countries in a global supply chain.
• A majority of goods produced and consumed are international.

Which of the following is true about creative destruction? *

(a)  

• In the short term it can be extremely detrimental for some, but in the long term it can be extremely beneficial.
• In the short term it can be extremely beneficial for some, but in the long term it can be extremely detrimental.
• Both in the short term and the long term it is extremely beneficial.
• Both in the short term and the long term it is extremely detrimental.

What are both Kodak and Polaroid examples of? *

(a)  

• The painful side of creative destruction.
• The desire of people to hold on to old technologies.
• The need for automation in the workforce.
• Powerful companies that only increased profits due to creative destruction.

What does the number of American farmers reveal about creative destruction? *

(a)  

• That creative destruction can free up labor for new pursuits.
• That creative destruction is a recent phenomena.
• That creative destruction generally lowers output for a short time.
• That creative destruction can cause an economic recession.

What does the American rose industry reveal about creative destruction? *

(a)  

• That international trade can cause creative destruction.
• That creative destruction cannot be applied to all products.
• That creative destruction can sometimes have no positive effect.
• That creative destruction can sometimes have no negative effect.