Chapter 1&2_IB

Which of the following is NOT a characteristic of globalization?

• Increased connectivity among nations

• Decline in international trade

• Global spread of technology

• Cultural exchange across borders

Identify the factor that has MOST contributed to the acceleration of globalization in recent decades.

• Rising nationalism

• Advances in information technology

• Decreased consumer demand

• Strict trade barriers

Globalization often leads to:

• Greater economic inequality

• Reduced competition in markets

• Decreased international cooperation

• Isolation of economies

What is one major advantage of globalization for businesses?

• Increased local competition

• Access to a global customer base

• Higher production costs

• Restrictive trade policies

Globalization can be challenging for:

• Multinational corporations

• Small local businesses

• Governments of developing countries

• All of the above

Match the following political ideologies with their key principle:

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Which concept is MOST associated with Karl Marx?

• Capitalism

• Socialism

• Democracy

• Free-market economy

A political system where power is centralized in the hands of one party or leader is called:

• Democracy

• Totalitarianism

• Oligarchy

• Federalism

Which of the following systems is LEAST likely to be associated with individualism?

• Free-market capitalism

• Totalitarianism

• Liberal democracy

• Mixed economy

In which type of economy does the government have the greatest control over production?

• Market economy

• Command economy

• Mixed economy

• Traditional economy