GLOBALIZATION

Globalization has led to:

• Increased economic growth for some countries.

• A wider variety of goods available to consumers.

• Both A and B.

• Neither A nor B.

A negative consequence of globalization can be:

• Increased job opportunities in developed nations.

• Exploitation of cheap labor in developing countries.

• More efficient production methods.

• Improved environmental regulations.

Offshoring refers to:

• Importing goods from other countries.

• Moving business operations to countries with lower labor costs.

• Investing in developing countries' infrastructure.

• Setting international trade agreements.

The World Trade Organization (WTO) aims to:

• Limit free trade between nations.

• Promote fair trade practices globally.

• Set rules for international trade agreements.

• Protect developing countries' industries from competition.

Reassessing globalization is important because:

• It allows developed nations to maintain their dominance.

• It can ensure a more equitable and sustainable future.

• It weakens the role of international institutions.

• It promotes isolationism among countries.

Which statement best describes globalization?

• A process of reducing international interactions

• A focus solely on local markets

• A process of increasing interconnectedness and interdependence among countries

• A strategy to avoid international competition

What happened with Foxconn's plan to build a factory in Wisconsin, USA?

• The factory was successfully built and operational

• The project was canceled due to economic reasons

• The project was delayed due to bureaucratic processes

• Despite promises, the factory was not built and the land remained undeveloped

What were the main drivers of Foreign Direct Investment (FDI) mentioned in the text?

• Technological advancements

• Location advantages and potential cost savings

• Trade agreements

• Increased consumer demand

Which region was a major focus for European investment in mining and agriculture during the colonial era?

• North America

• Europe

• Africa

• Asia

What was a significant factor that drove foreign direct investment (FDI) historically?

• Fear of local competition

• Access to low-cost labor

• A desire to control foreign governments

• The need to develop new technologies