Quiz on Globalization

What is globalization?

• A process where countries work to isolate themselves economically

• The increased interconnectedness and interdependence of economies worldwide

• The decline of international trade

• A form of government policy to restrict imports

Which of the following is a key driver of globalization?

• Trade barriers

• Advancements in communication and technology

• Reduced international cooperation

• Strict government regulations on trade

Which organization promotes free trade globally?

• World Health Organization (WHO)

• World Trade Organization (WTO)

• International Monetary Fund (IMF)

• United Nations (UN)

Which of the following is a feature of globalization?

• Decreased foreign direct investment (FDI)

• Increased cultural exchange

• Decline in multinational corporations

• Reduced access to global markets

What is a multinational corporation (MNC)?

• A business that operates in only one country

• A business that operates in multiple countries

• A government-run business

• A small, local business

Which of the following is NOT a benefit of globalization?

• Access to a larger customer base

• Lower production costs in certain regions

• Increased cultural diversity

• Higher trade barriers

How does globalization impact competition?

• It reduces competition by limiting market access

• It increases competition by opening markets globally

• It eliminates the need for competitive strategies

• It only affects competition in developing countries

Which sector is most likely to benefit from globalization?

• Small-scale local farming

• Technology and manufacturing industries

• Government-run organizations

• Non-exporting businesses

Which of these is a negative effect of globalization?

• Reduction in technological advancements

• Loss of cultural identity

• Decrease in foreign investments

• Elimination of trade opportunities

What is an example of foreign direct investment (FDI)?

• A local company exporting its products overseas

• A multinational company opening a factory in another country

• A government imposing tariffs on imports

• A consumer purchasing foreign goods