International: Ch.1 L.1-5 Globalization Vocabulary Check Review

What is the primary goal of the globalization of markets?

• To create a single, unified global market

• To increase trade barriers between countries

• To promote isolationist economic policies

• To decrease international competition

Which of the following is NOT a factor of production?

• Land

• Labor

• Capital

• Technology

The World Trade Organization (WTO) primarily focuses on:

• Providing loans to developing countries

• Regulating international trade rules

• Managing global currency exchange rates

• Coordinating humanitarian aid efforts

What is the main purpose of foreign direct investment (FDI)?

• To provide short-term loans to foreign governments

• To establish long-term interest in enterprises operating outside the investor's home country

• To facilitate currency exchange between nations

• To promote cultural exchange programs

The International Monetary Fund (IMF) is responsible for:

• Promoting international trade

• Ensuring global financial stability

• Funding infrastructure projects in developing countries

• Regulating multinational corporations

Which of the following best describes a multinational enterprise (MNE)?

• A company that only operates in its home country

• An organization that facilitates trade between two countries

• A firm that has operations in multiple countries

• A government agency that oversees international trade

The globalization of production refers to:

• The standardization of products across all markets

• The outsourcing of manufacturing to a single country

Which organization's primary mission is to reduce global poverty through financial assistance and advice?

• World Trade Organization

• United Nations

• International Monetary Fund

• World Bank

The Group of Twenty (G20) is:

• A forum for the governments and central bank governors of 20 major economies

• An alliance of 20 developing nations

• A subdivision of the United Nations focused on economic issues

• A group of 20 multinational corporations that influence global trade policies

Which of the following is NOT a primary function of the United Nations?

• Maintaining international peace and security

• Setting global interest rates

• Promoting social progress and better living standards

• Fostering cooperation in international law