Review: Globalization

What is globalization?

• The increasing interdependence of economies worldwide

• The political integration of countries

• The decrease in global trade activities
  
  

• The isolation of domestic markets

One of the major critiques of globalization is:

• It fosters economic equality

• It leads to environmental degradation

• It reduces access to global markets

• It limits technological advancements

The term "globalization of production" refers to:

• Standardizing all products for global markets

• Sourcing goods and services globally to reduce costs

• Restricting production within domestic borders

• Eliminating international supply chains

A multinational enterprise (MNE) is defined as a company that:

• Operates solely in its home country

• Has operations in two or more countries

• Exports goods without foreign direct investment

• Focuses on domestic supply chains
  
  

A criticism of globalization is that it can:

• Increase wages globally

• Lead to exploitation of labor in developing countries

• Loss jobs in developed countries

• Reduce consumer choices

Critics argue that globalization has contributed to:

• Reducing cultural diversity

• Increasing protectionist policies

• Enhancing income equality

• Strengthening local governance

One major benefit for companies operating in global markets is:

• Access to a limited consumer base
  
  

• Enhanced competitive pressures

• Economies of scale

• Reduced profitability

40. The increase in foreign direct investment (FDI) is an indicator of:

• Declining globalization trends

• Strong integration of global economies

• Weak competition among multinational corporations

• Decreasing cross-border trade

The globalization of markets primarily involves:

• Reducing the cultural differences in markets

• Standardizing products and services for all consumers worldwide

• Focusing on domestic consumers

• Promoting regional trade agreements

The rapid growth of international trade has been facilitated by:

• Lower tariffs

• Transportation development

• Trade liberalization policies

• Isolationist economic policies