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Globalization, Free trade and Protection

Authored by Muhammed Shaifer

Other

9th Grade

Used 6+ times

Globalization, Free trade and Protection
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is globalisation?

The process by which the world's economies become interdependent.

A method to protect domestic industries.

A type of international trade.

A cultural exchange program.

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are some positive impacts of globalisation?

Increased international trade, creating wealth and jobs globally.

Widened income and wealth gaps between the world's poorest and richest countries.

Increased dependence on the global economy.

None of the above.

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the advantages of multinational companies?

Job creation and improved standards of living in host countries.

Criticism for unethical practices.

Potential to force local firms out of business.

Challenges in dealing with different legal systems.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What does free trade refer to?

International trade without protectionist measures.

Trade limited by tariffs and quotas.

Trade only between developed countries.

Trade regulated by international laws.

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are methods of protection in trade?

Tariffs, import quotas, subsidies, embargoes.

Free trade agreements.

International cooperation.

None of the above.

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are arguments against protectionism?

Market distortions leading to global misallocation of resources.

Safeguarding infant industries.

Preventing dumping.

Generating government revenue.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some negative effects of globalisation?

Improved access to technology and information.

Increased economic growth in developing countries.

Loss of cultural identity and local traditions.

Enhanced global cooperation.

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