Quiz on Globalization Features

What does globalization primarily involve?

• Isolation of economies

• Integration of economies

• Regional trade barriers

• National self-sufficiency

Which of the following is a key feature of globalization?

• Restriction on foreign investments

• Decrease in international trade

• Free movement of goods, services, and capital

• Promotion of autarky

Globalization leads to the spread of which of the following?

• Local customs and traditions only

• National currencies

• Technology and cultural exchange

• Isolationist policies

One of the major drivers of globalization is:

• Decline in transportation and communication costs

• Increased trade restrictions

• Reduced foreign competition

• Promotion of closed economies

Which institution plays a significant role in promoting globalization?

• World Bank

• United Nations

• International Monetary Fund (IMF)

• All of the above

What is one major economic opportunity presented by globalization?

• Increased tariffs on exports

• Wider access to international markets

• Reduced competition among businesses

• Restricted mobility of labor

Globalization helps developing countries by:

• Limiting foreign investments

• Increasing access to advanced technologies

• Discouraging trade partnerships

• Promoting local monopolies

A major benefit of globalization for consumers is:

• Higher prices of goods and services

• Limited choices in products

• Greater variety and lower prices of goods

• Increased trade barriers

Globalization enables businesses to:

• Focus solely on domestic markets

• Reduce innovation

• Expand operations across borders

• Avoid competition

How does globalization contribute to employment opportunities?

• By reducing job availability in the services sector

• By creating jobs through multinational investments

• By restricting labor mobility

• By focusing on automation