Globalization and Trade and Poverty: Crash Course Economics

The video discusses poverty and extreme poverty, focusing on the UN's Millennium Development Goals aimed at reducing extreme poverty by half. It highlights the role of globalization and trade in poverty reduction, while also addressing the challenges and criticisms of globalization, such as income inequality and environmental concerns. The video also explores microcredit as a tool for economic participation and poverty alleviation, emphasizing the importance of enabling individuals to participate in the economy.

What was the primary goal of the UN's Millennium Development Goals related to poverty?

• To promote technological advancements

• To eradicate extreme poverty and hunger

• To establish a global minimum wage

• To increase global trade

According to the video, what is the most significant factor contributing to the reduction of extreme poverty?

• Stricter environmental regulations

• Higher education standards

• Globalization and trade

• Increased humanitarian aid

How have mobile phones contributed to poverty reduction in developing countries?

• By reducing the need for physical labor

• By providing entertainment

• By facilitating access to banking and education

• By replacing traditional farming methods

What is a major downside of globalization mentioned in the video?

• Decreased access to technology

• Loss of cultural identity

• Increased cost of living

• Hazardous working conditions for low-wage workers

What is the 'multiplier effect' in the context of globalization?

• The increase in global trade volume

• The spread of cultural practices

• The creation of additional jobs through increased spending

• The rise in environmental pollution

What is microcredit, as discussed in the video?

• Small loans given to low-income individuals to start businesses

• A form of international aid

• A tax incentive for large corporations

• A government subsidy for education

What challenge does globalization face in terms of sustainability?

• Environmental degradation and resource depletion

• Inability to maintain economic growth

• Lack of technological innovation

• Decreased consumer demand