Unit 9: Economic Globalization and Rise of Conservatism

What term is used to describe the process where industries reduce their manufacturing activities, often due to economic shifts or outsourcing?

• liberalism

• globalization

• deindustrialization

• neoconservative

Which term refers to the economic benefits that enterprises gain as their production output increases?

• conservatism

• tariff

• economies of scale

• moderate

What is the term for a political and economic theory favoring free market capitalism and minimal government intervention?

• conservative

• welfare state

• liberalism

• sustainable

Which term describes a policy aimed at restricting imports to protect domestic industries?

• competitive cost advantage

• tertiary

• multinational companies

• trade protectionism

- Form of trade Items sold that exit a country

- Goods sold to buyers outside the country

• Import

• Export

Define the terms "imports"

• Goods and services bought from foreign nations

• Goods and services sent to foreign nations

- Form of trade Items purchased that come into a country

- Goods bought from sellers in other countries

• Import

• Export

an official ban on trade or other commercial activity with a particular country.

• stop

• embargo

• barr

• tariff

Investment by a person or company based in another country is called _____________ .

• distribution

• economic interdependency

• foreign investment

• imports

Which of the following is the best example of Outsourcing? 

• An El Salvadorian immigrant illegally immigrates to the USA to find work
• An American Tech Company fires it's American Employees and hires people in Bangladesh to do the same job for 1/4 the cost 
• A European worker moves to the USA and gets a high paying job at a tech company. 
• An American company decides to change it's steel contracts from Japanese companies to Chinese companies