Contemporary World Pre-Assessment

The following are the advantages of globalization EXCEPT;

• social awareness

• social discrimination

• promotes world peace

• advancement of technology

The area in of the modern world system that generates less wealth in the world economy

• core

• periphery

• semi-periphery

• laborers

Which best describes globalization?

• the exchange of products only

• Laissez-faire economics

• a static process

• the import and exports of product

It is a free market economy or a free enterprise economy where private sector owns the factors of production.

• Communism

• Capitalism

• Neoliberalism

• Liberalism

It is a technological paradigm that constitutes the material basis of early 20th Century.

• Globalization

• Networking

• Informationalism

• Transformation

Which is the correct statement?

• Surplus is good.

• Deficit is good only.

• Surplus and deficit are bad only

• Surplus and deficit can be good and bad

Means that the revenue generated is more than the expenditure

• Globalization

• Surplus

• Deficit

• Outsourcing

It is the result of hyperconsumption.

• hyperactive

• debt

• storage full

• uncontrollable

Which is not a characteristic of economic globalization?

• Capital

• Faith

• Communication

• Structures of communication

It is a dynamic and on-going process that deals with economic, political, or social dimension.

• Solidity

• Exchange

• Globalization

• Liquidity