Globalization Quiz

What is globalization?

• The process of interaction and integration among people, companies, and governments worldwide.

• A local event that affects only a small community.

• The isolation of countries from each other.

• A type of government policy.

How new is globalization?

• Globalization is a recent phenomenon.

• Globalization has been around for centuries.

• Globalization started in the 20th century.

• Globalization began with the internet.

What has led to increased globalization?

• Advancements in technology

• Increased trade barriers

• Isolationist policies

• Decreased communication

What are some positive effects of globalization?

• Increased cultural exchange

• Decreased international trade

• Reduced communication

• Isolation of economies

When people trade, both sides benefit because:

• They both gain access to goods or services they want.

• One side always profits more than the other.

• It creates competition and lowers prices.

• It leads to economic instability.

What are some negative effects of globalization?

• Loss of cultural identity

• Increased economic equality

• Improved local businesses

• Decreased environmental impact

What roles do the International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO) play in globalization?

• They provide financial assistance and facilitate international trade.

• They regulate global internet usage.

• They manage global environmental policies.

• They oversee international sports events.

What are some effects of multinational businesses?

• Increased global trade

• Decreased cultural exchange

• Reduced employment opportunities

• Lowered economic growth

What are some of the issues involved with outsourcing jobs?

• Loss of domestic jobs

• Increased local employment

• Higher domestic wages

• Improved local infrastructure

The future of globalization is:

• A continued increase in global trade and cultural exchange

• A decline due to rising nationalism and protectionism

• Stagnation with no significant changes

• Unpredictable due to technological advancements