Ch. 1 Globalization Quiz

What does "The Globalization of Markets" mean?

• Countries produce goods for themselves only

• All countries have the same government system

• People around the world like the same products

• People stop using international products

Why do companies use "The Globalization of Production"?

• To sell more products in one country

• To reduce production costs and time

• To make all products in one location

• To pay more taxes

Which of the following is a global institution?

• Apple

• IMF

• Facebook

• Netflix

How do global institutions help globalization?

• By building factories

• By increasing taxes

• By making and enforcing trade rules

• By choosing which products to sell

Which of the following is a driver of globalization?

• High trade barriers

• Slow internet

• Better transportation

• Local-only businesses

What happens when trade rules are reduced?

• Companies avoid selling abroad

• It becomes harder to trade

• Global trade increases

• Prices always go up

A phone is designed in the USA, made in China, and assembled in Vietnam. This is an example of:

• Global institution

• Globalization of markets

• Globalization of production

• Traditional production

Which of the following statements is true about globalization?

• It limits international cooperation

• It only benefits rich countries

• It connects markets and production globally

• It reduces trade between countries