Quiz on Economic Globalization

What is economic globalization?

• Limiting trade to regional partners

• Increasing economic independence

• Integration of economies globally through movement of people and knowledge

• A form of political alliance

Which of the following is a key driver of economic globalization?

• Isolationist policies

• Innovation and technological progress

• Cultural preservation

• Nationalism

Which global organization aims to promote peace and security among nations?

• World Bank

• International Monetary Fund

• United Nations

• World Trade Organization

Who theorized the Modern World System?

• Max Weber

• Immanuel Wallerstein

• Karl Marx

• Joseph Nye

Which countries are considered part of the "core" in world-systems theory?

• Developing nations

• Former colonies

• Dominant capitalist countries

• Rural economies

What is meant by "peripheral" countries?

• Countries that dominate the global market

• Nations that have high economic power

• Countries dependent on core states with underdeveloped industry

• Countries located on islands

What does “glocalization” refer to?

• Global issues solved locally

• The erasure of local culture

• Adapting global products to local markets

• Isolationist economic policies

Which century marked the first period of globalization, according to Bhagarva?

• 20th

• 21st

• 16th–18th

• Prehistoric

The third wave of globalization was driven by:

• The Renaissance

• The World Trade Organization and modern internet

• The Cold War

• The Treaty of Versailles

Which country formally joined the global trading system during the third wave of globalization?

• Russia

• India

• China

• Brazil