Globalization Worksheet

What is globalization?

• A process by which individuals and businesses in any part of the world are much more affected by events elsewhere in the world than they used to be.

• The isolation of countries from each other.

• The reduction of international trade.

• The decline of technology in business.

Which of the following best describes the economic aspect of globalization?

• Growing integration of the economies of the world.

• Decreasing communication between countries.

• Limiting the movement of goods and services.

• Promoting only local businesses.

How is globalization aligned with economic movements?

• It is aligned with the movement to free enterprise.

• It supports government monopolies.

• It encourages economic isolation.

• It restricts international investments.

Explain how globalization affects individuals and businesses in different parts of the world.

• They are more affected by events elsewhere in the world than before.

• They become completely independent from global events.

• They only interact with local markets.

• They are unaffected by international trends.

Analyze why the integration of world economies is considered a key feature of globalization.

• Because it increases interdependence and allows for greater economic growth and cooperation.

• Because it leads to complete economic independence for each country.

• Because it eliminates the need for international trade.

• Because it restricts the movement of capital and labor.

When did globalization begin according to the early history presented?

• In the 1500s

• In the 1800s into the 1920s

• After World War II

• In the 21st century

What were the main events that ended the first era of globalization?

• The Industrial Revolution and the Renaissance

• The two world wars and the Great Depression

• The Cold War and the Space Race

• The fall of the Berlin Wall and the rise of the internet

Based on the information, why might the end of the first era of globalization be considered significant for world economic history?

• It marked the beginning of the Industrial Revolution

• It was caused by major global conflicts and economic downturns, which disrupted international cooperation and trade

• It led to the immediate creation of the United Nations

• It resulted in the discovery of new continents

What was one result of the end of the Cold War according to the recent causes listed?

• The start of new wars between countries.

• The thawing of relations between enemies.

• A rise in technological costs.

• A decrease in international trade.

Why do lower costs lead to fewer barriers to trade?

• Because lower costs make it easier for countries to trade with each other.

• Because lower costs increase tariffs.

• Because lower costs reduce the need for specialization.

• Because lower costs discourage international cooperation.