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Globalization and Economic Systems Quiz

Authored by Martin Nava

Social Studies

12th Grade

Used 18+ times

Globalization and Economic Systems Quiz
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does globalization refer to in the context of economic and cultural interdependence?

The isolation of nations from each other

The economic and cultural interdependence and connection among nations, economies, and individuals

The competition between local and international markets

The decline of cultural diversity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a mixed economic system?

A system with no government intervention

A system with complete government control

A system combining elements of both free market and government control

A system where the market is entirely controlled by foreign companies

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What concept did Adam Smith refer to when explaining the operation of markets?

Invisible barrier

Invisible hand

Invisible force

Invisible control

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a tertiary sector business?

Citrus orchard

Bridge repair

Meatpacking facility

Lumber mill

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the labor for producing t-shirts in Vietnam or Guatemala considered competitive globally?

Due to high labor costs

Because of the skilled labor force

Because the labor is inexpensive

Due to the use of advanced technology

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which international organization focuses on humanitarian issues?

IOC

FIFA

ICRC

UNESCO

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "free trade" refer to?

Restrictions on trade between nations

No trade barriers like tariffs or quotas between nations

Trade that only involves free market countries

Trade agreements that are not profitable

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