Trade and the World Economy

What has led to a decline in jobs in core regions and an increase in jobs in newly industrialized countries?

• Increase in international trade

• Outsourcing and economic restructuring

• Post-Fordist production methods

• The emergence of service sectors

What are some of the new manufacturing zones created in countries outside the core due to the growth of industry?

• Special economic zones, free-trade zones, and export processing zones

• High technology industries and growth poles

• International trade and industrialization

• Just-in-time delivery and multiplier effects

Which of the following is a characteristic of the contemporary economic landscape?

• Decrease in international trade

• Decline in the service sector

• Post-Fordist methods of production, just-in-time delivery, and high technology industries

• Reduction of manufacturing zones

Which of the following is NOT listed as a recent economic change?

• A) Increase in international trade

• B) Deindustrialization

• C) Growing interdependence in the world economy

• D) Decrease in technological innovation

How does the life cycle of a T-shirt relate to international trade?

• It demonstrates the use of currency exchange rates.

• It involves the concept of supply and demand.

• It shows the impact of local retail markets.

• It illustrates the process of bartering goods.

By what percentage did garment production increase from 1994 to 2014 according to the Life Cycle of a T-shirt video mentioned?

• 100%

• 200%

• 300%

• 400%

What does the graph about the value of global exports indicate about international trade from the 1800s to 2014?

• It remained constant throughout the years.

• It decreased significantly.

• It shows a significant increase, especially after the 1950s.

• There is no clear trend visible.

What is one of the reasons companies engage in deindustrialization according to the learning material?

• To move to regions with more expensive labor

• To take advantage of technological advancements

• To move industrial jobs to other regions with cheaper labor

• To reduce the number of jobs available

What is a consequence of deindustrialization for the newly deindustrialized region?

• Immediate economic growth

• Decrease in service sector jobs

• A period of high unemployment

• Increase in industrial jobs

What is a potential strategy for a region affected by deindustrialization to recover economically?

• Focusing solely on industrial production

• Ignoring economic changes and maintaining the status quo

• Switching to a service economy

• Increasing the cost of labor