What is globalisation

Globalization is the process of

• increasing interdependence and interaction among countries

• isolating countries from each other

• reducing international trade

• promoting local businesses only

What is meant by International Mobility of Labour and Capital?

• The movement of goods and services across international borders

• The movement of people and financial resources across countries

• The exchange of cultural values between nations

• The establishment of international trade agreements

Which of the following best explains the concept of International Currencies?

• Currencies that are used exclusively within a single country.

• Currencies that are accepted for trade and transactions between different countries.

• Currencies that are only used for digital transactions.

• Currencies that are backed by gold reserves.

Multinational Corporations are companies that operate in multiple countries. Which of the following best describes them?

• Companies that operate in a single country

• Companies that operate in multiple countries

• Companies that only export goods

• Companies that only import goods

What is International Business Communications?

• The exchange of information and ideas between individuals or groups from different countries.

• A local business meeting.

• A type of domestic communication.

• A form of non-verbal communication.

What are International Payment Systems?

• Systems that facilitate cross-border financial transactions.

• Local payment methods used within a country.

• A type of currency exchange platform.

• A domestic banking service.

Which of the following are trading blocks?

• European Union (EU)

• North Atlantic Treaty Organization (NATO)

• World Health Organization (WHO)

• United Nations (UN)

One purpose of a trading bloc related to trade among members is to:

• Increase tariffs on non-member countries

• Facilitate free trade among member countries

• Restrict trade among member countries

• Promote trade barriers within the bloc

Trading blocs increase market access for member countries by:

• Reducing tariffs and trade barriers

• Increasing import taxes

• Limiting exports to non-member countries

• Imposing strict regulations on trade

How do trading blocs strengthen economic competitiveness?

• By increasing tariffs on imports

• By promoting free trade among member countries

• By restricting foreign investments

• By implementing strict labor laws