Globalization Quiz

This image represents which economic sector?

• Primary Sector

• Quinary Sector

• Secondary Sector

• Tertiary Sector

Globalization can have many benefits for societies working together. However, which of the following is the BEST example of a negative result of globalization?

• Cultural identity may be undermined and lead to loss of local mores.

• Economies freely trading with each other may be harmful to farming.

• Environmental awareness is lost to the desire for more goods.

• Political entities may grow from encounters with other countries.

Which term best describes the process by which businesses or other organizations develop international influence or start operating on an international scale?

• Globalization

• Protectionism

• Colonialism

• Mercantilism

How has globalization impacted employment opportunities worldwide?

• increased job opportunities in various sectors

• led to a decline in traditional industries

• had no significant impact on employment

• reduced the overall need for manual labor

From the last question, who has the absolute advantage in tools?

• Peru

• U.S.

• neither

• not enough info

Using this graphic only, what effect would you say globalization had on the standard of living worldwide?

• It improved the standard of living globally.

• It worsened the standard of living globally.

• It had no effect on the standard of living globally.

• You cannot determine the effects of globalization from this graphic.

What is the primary driving force behind production in a traditional economy?

• Market trends

• Consumer preferences

• Customs and traditions

• Technological advancements

Which types of production methods are found in a traditional economy?

• commercial farming

• cottage industries

• international business

• government-sponsored business

• subsistence agriculture

What primarily influences the price fluctuation of commodities in a free market system?

• Central planning committees

• Consumer preferences alone

• Supply and demand dynamics

• International trade laws

Which economic sector is most dominant in a market-oriented economy?

• Agriculture

• Manufacturing

• Services

• Subsistence farming