UNIT Quiz!

What is globalization?

• The process of increasing interdependence and connectivity of global economies, cultures, and populations.

• The isolation of countries from international trade and communication.

• The reduction of international trade barriers to promote local businesses.

• The focus on domestic markets over international markets.

Which of the following is a primary driver of globalization?

• Decreased communication technology.

• Increased tariffs and trade barriers.

• Advances in transportation and communication technology.

• Reduction in international cooperation.

What is a multinational corporation (MNC)?

• A company that operates solely within its home country.

• A company that has operations in multiple countries.

• A government-owned enterprise.

• A non-profit organization focused on global issues.

Which of the following is a benefit of international trade?

• Decreased variety of goods and services.

• Increased prices for consumers.

• Access to a larger market and increased economic growth.

• Reduced competition among businesses.

What is the World Trade Organization (WTO)?

• An organization that promotes environmental sustainability.

• A global organization that regulates international trade.

• A regional trade agreement between European countries.

• A financial institution that provides loans to developing countries.

Which of the following is a potential negative impact of globalization?

• Increased cultural exchange and understanding.

• Loss of local jobs due to outsourcing.

• Greater access to foreign markets.

• Improved technology transfer.

Which of the following is an example of a trade barrier?

• Free trade agreements.

• Import tariffs.

• Global supply chains.

• International marketing strategies.

What is cultural globalization?

• The spread of local cultures to isolated regions.

• The exchange and integration of cultural elements across the world.

• The preservation of traditional cultures against foreign influences.

• The promotion of a single global culture.

Which of the following is a reason for companies to engage in international business?

• To limit their market reach.

• To avoid competition.

• To access new markets and increase profitability.

• To focus solely on domestic operations.

What is the impact of globalization on developing countries?

• Decreased access to technology and innovation.

• Increased isolation from global markets.

• Opportunities for economic growth and development.

• Reduced foreign investment.