Globalization and modern economics

This group settles trade disputes among member nations

• OPEC

• WTO

• United Nations

This group promotes free trade

• OPEC

• WTO

• United Nations

A cartel of oil producing nations

• OPEC

• WTO

• United Nations

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).

• Free Trade

• Trade

• Goods

• Supply and Demand

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

What are some negatives of globalization?

• Workers are exploited in sweatshops

• Pollution and deforestation

• Low wages for factory workers in Asia and Africa

• All of the answers are correct

What are some positives of globalization?

• Cheap sneakers and clothes

• Cheap electronics

• Information is easy to access and it travels quickly (internet and social media)

• All of the answers are correct

According to CNN, the United States receives 80% of its avocados from Mexico. Mexico receives most of its auto parts from the United States. This is an example of the following.

• Interdependence

• Infrastructure

• Globalization

A large company that has operations in more than one country.

• Domestic Corporation
• Multinational Corporation
• Foreign Corporation

A negative side effect of globalization such as the spread of Covid-19 is caused by

• Improved sanitation resulting in resistant strains of viruses

• Accelerated transmission of viruses due to increased travel

• Health problems caused by decreased government funding

• Cultural movements that limit vaccinations for children