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WorksheetsGlobalization and Comparative Advantage
Total questions: 41
Worksheet time: 22mins
Which of these careers provide "services"? (MULTIPLE RIGHT ANSWERS)
Toymaker
Internet provider
Plumber
Phone Manufacturer
Pizza maker
Which of these careers provide "goods"? (Multiple Right Answers)
Politician
Coffee Barista
Car Manufacturer
Teacher
Candy Store
The increasing interdependence of the global economy is called
Economics
Globalization
International Industry Interdependence (3I)
Macroeconomics
What is a benefit of economic interdependence for consumers?
Increased GDP
International Trade
Lower prices for goods
Longer life expectancy
what is a potential downside of economic interdependence for countries?
Higher GDP
The country's supply chain is reliant on others
Increased political cooperation
Immigration
When international goods and services can be traded WITHOUT tariffs, that is called
Trade
Free Trade
Neutral Trade
Economics
Tariffs are
Taxes on goods from other countries
punishments for foreign diplomats
Acts of war
laws that protect consumers
Who ends up paying for Tariffs?
Foreign governments
consumers
Domestic companies
foreign companies
People who buy goods and services are
producers
Consumers
People
Companies
People and companies who sell goods and services are called
Consumers
Producers
Businesses
Companies
A good example of multinational cooperation was
The development of the COVID vaccine
The border wall
Diplomacy
The Queen of England meeting with the US President
An ancient trade route that ran between China and Europe through the Middle East was called the
Transcontinental Road
The Silk Road
The Golden Path
The Dragon Road
When a country is good or efficient at a particular task in producing a good or service, that is called
A Comparative Advantage
A "Niche"
A boon
A stereotype
What is a good example of a comparative advantage (multiple right answers)
SE Asia's population making labor cheap
The United States' massive tech companies developing new mobile technology
The Amazon Rainforest being suitable for rubber trees
Europe's highly educated workforce
Why would a clothing manufacturer NOT want to make clothes in the United States?
US laws make it illegal
US workers would have to paid more, making the clothing too expensive
Americans don't want to work
America does not have the technology
when a company moves jobs to another country to save money, this is called
outsourcing
International cooperation
Comparative Advantage
Business
A system in India that separates people into hereditary groups based on their parents' group is called
The caste system
Monarchy
Heritidary systems
inheritance
IT stands for
Idle Technology
Internet technology
Information Technology
Industry Technology
Globalization helps what ideas spread? (Multiple right answers)
Religions
Culture
Language
Food
Music
What type of companies have an advantage in a global economy?
Large companies
Small companies
In a competitive global economy, companies are incentivized to improve the working conditions of their employers
True
False
In a global economy, companies are incentivized to pay their employers a livable wage
True
False
Globalization has made goods more expensive for people around the world
True
False
Globalization has resulted in many cities around the world getting larger
True
False
Because of Globalization, fewer people have jobs
True
False
The fact that New Ulm has Chinese, Mexican, and German restaurants is because of globalization
True
False
The imaginary line in the Pacific Ocean that splits up days is called the
Day Line
Pacific Rim
International Date Line
Trans-Oceanic Time Line
The earth is split into 24 zones, inside of which people use the same clock time. These are called
Time zones
Clock Zones
Zones of control
Standard Deviation
When the sun is rising at the 6 a.m. time zone, what is happening at the 6 p.m. time zone?
Sun Rise
Night
Sun Set
Noon
If you travel one time zone to the East, what happens to the time?
You gain one hour (2:00 -->3:00)
You lose one hour (2:00 --> 1:00)
nothing
If you travel one time zone to the West, what happens to the time?
You gain one hour (2:00 -->3:00)
You lose one hour (2:00 --> 1:00)
nothing
What is economics?
Studying Money
Studying the production, consumption, and transfer of wealth
How to make money fast!
Supply and Demand
What is a marketplace?
A part of FB where you sell stuff
Where goods and services are traded
A business
A place where goods are produced
What is an import?
A place where goods are produced
A place where goods are consumed
Goods and services a country sends to another
Goods and services a country gets from another
What is an export?
A place where goods are produced
A place where goods are consumed
Goods and services a country sends to another
Goods and services a country gets from another
A new factory opening would cause the price of a good to
Increase
Decrease
Stay the Same
A trade war puts tariffs on steel. What happens to the supply and demand chart for steel in the United States?
Positive Supply Shift
Negative Supply Shift
Stay the Same
Positive Demand Shift
Negative Demand Shift
China's Belt and Road plan seeks global power through. . .
Military might
Colonization
Trade and business
Nuclear threats
China is making friends of other countries by . . .
Funding infrastructure projects
Lending soldiers as mercinaries
Giving away free money
Allowing immigration
Trade wars are bad for
Businesses
Consumers
Other Countries
Manufacturers
Which one of these statements represents adaptations to a dense urban area? (multiple right answers)
Having back yards with houses
A good public transportation system
Urban sprawl
Using vending machines instead of stores
Street parking
