Globalization Review

Front

Which of the following best defines globalization? Options: The isolation of countries from one another, The increasing interconnectedness and interdependence of countries, The complete eradication of national borders, The dominance of one country over others

Back

The increasing interconnectedness and interdependence of countries

Front

A company in Mexico ships fruit to the US without paying tariffs. This is an example of?

Back

free trade

Front

Japanese consumers buy many goods made in China. This is an example of:

Back

economic interdependence

Front

Setting up businesses abroad to produce parts and products for domestic use or sale; the practice of subcontracting manufacturing work to outside companies, especially foreign or nonunion companies

Back

outsourcing

Front

The level of wealth, goods and necessities available for people to live

Back

standard of living

Front

A country with many industries and provides a comfortable way of life for most of their citizens.

Back

Developed country

Front

Why was production moved offshore?

Back

To cut costs

Front

The increased flow of trade, people, technology, culture and ideas among countries.

Back

Globalization

Front

A large company that has operations in more than one country.

Back

Multinational Corporation

Front

What is the best definition for "free enterprise"?

Back

an economic system in which private businesses organize and operate for profit