Globalization and Its Impacts

What is a key factor that allows products to be made using resources from multiple countries?

• Protectionism

• Isolationism

• Globalization

• Local manufacturing

How do free trade agreements benefit consumers?

• By reducing communication technology

• By increasing tariffs

• By limiting product choices

• By providing access to more products at lower prices

What is one criticism of globalization mentioned in the transcript?

• It decreases global communication

• It leads to concentrated wealth and power

• It eliminates all trade barriers

• It increases local employment

What is protectionism?

• A method to increase global trade

• A strategy to shield domestic industries from international competition

• A technique to reduce communication technology

• A way to promote free trade agreements

How can globalization negatively impact local economies?

• By reducing the number of available products

• By eliminating the need for international trade

• By causing industries to collapse due to global competition

• By increasing local production costs