Global Trade and Networks Quiz

What are global networks?

• Systems of regional collaboration within a country

• Systems of interconnected infrastructure allowing the movement of goods, services, and information across borders

• Only trade routes between developed nations

• Local economic relationships between businesses

Which of the following is an example of a physical global flow?

• The spread of an online business platform

• The movement of raw materials like oil and iron ore

• A meeting between business leaders in different countries via video call

• International financial transactions

What type of global trade involves intangible goods?

• Raw materials

• Manufactured goods

• Services

• Natural resources

Which sector of the economy focuses on the extraction of raw materials?

• Primary

• Secondary

• Tertiary

• Quaternary

Which country is one of the largest exporters of manufactured goods globally?

• Brazil

• Germany

• Australia

• Saudi Arabia

What is a global supply chain?

• A local network of stores selling similar products

• The series of steps in which a product is made, distributed, and sold worldwide

• A country’s internal trade route

• A process that only involves the primary sector

How has technology impacted global trade in services?

• It has slowed down trade by complicating international logistics

• It has made services less important in the global economy

• It has allowed services to be easily traded across borders through digital platforms

• It has limited the growth of service industries

What is the term for the movement of goods and people between countries?

• Isolationism

• Protectionism

• International flow

• Migration

What role do multinational corporations (MNCs) play in global networks and flows?

• They create regional trade barriers to protect local markets

• They drive global trade by linking production, distribution, and consumption across different regions

• They focus only on their home country's economy

• They slow down global trade by monopolizing certain industries

What does 'comparative advantage' mean in the context of global trade?

• Countries trade goods they produce less efficiently

• Countries specialize in goods they can produce more efficiently than others

• Countries avoid trade to build local industries

• Countries with the highest production costs gain the most from global trade