KNOWLEDGE CHECK

In his paper, he examines the extent to which globalization affects the poor in developing countries. He defines globalization in terms of trade openness and financial openness, respectively measured as a tariff revenue imports ratio and foreign direct investments

• Wade (2004)

• Jagdish Bhagwati (2001)

• Agénor (2002)

• World Bank

This refers to the increasing interconnectedness of national economies through trade, investment, and the flow of capital, technology, and information.

• GLOBALIZATION

• ECONOMIC GLOBALIZATION

• INEQUALITY

• POVERTY

TRUE OR FALS

POVERTY refers to the state of lacking basic necessities like food, shelter, healthcare, and education. It's often measured by income levels below a certain poverty line.

• FALSE

• MAYBE

• TRUE

• CONFUSED

This refers to the unequal distribution of resources, opportunities, and wealth within and between societies. It can be measured by income inequality, wealth inequality, and access to education, healthcare, and other essential services.

• ECONOMIC CRISIS

• POVERTY

• INEQUALITY

• INFLATION

Refers to the significant changes happening in how goods and services are traded across the world. It's moving away from the old model of regional trade and towards a more interconnected, complex, and technology-driven system

• ECONOMIC GLOBALIZATION

• Old Global Trade

• GLOBAL TRADE TRANSFORMATION

• Modern Global Trade

It looks outward at how a country interacts with the world.

• Humanitarian policy

• Honesty is the best policy

• Geopolitical policy

• Industrial policy

This type of trade simply the buying of goods and services from other countries for use or resale within your own country

• Import trade

• Entrepot trade

• Export Trade

• Local trade

The exchange of goods and services between countries. It's like buying and selling, but across borders! This allows countries to access goods and services they might not have at home, leading to more choices and potentially lower prices for consumers.

• Economic Globalization Trade

• Local Trade

• International Trade

• Import and Export Trade

TRUE OR FALSE

GLOBAL TRADE brings many benefits to countries and individuals. It allows countries to specialize in what they do best, leading to more efficient production and lower prices for consumers. It also creates new jobs, boosts economic growth, and helps countries access a wider variety of goods and services. Finally, it promotes cultural exchange and understanding between nations

• CONFUSED

• TRUE

• MAYBE

• FALSE

TRUE OR FALSE

Industrial policy looks outward at how a country strengthens its economy.

• CONFUSED

• FALSE

• MAYBE

• TRUE