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WorksheetsGlobalisation and Trade Liberalisation Quiz
Total questions: 33
Worksheet time: 26mins
What is protectionism?
A policy of protecting home industries from foreign competition
A policy of promoting free trade
A policy of reducing trade barriers
A policy of encouraging foreign investment
What are the benefits of preferential tariffs?
Lower prices for the goods from the country with the preferential tariff
Better trading relations between countries
Assistance provided by richer countries to poorer countries
All of the above
What is trade liberalisation?
The imposition of trade barriers on imported goods
The reduction of barriers to trade
The promotion of preferential tariffs
The increase in protectionist measures
What is globalisation?
The emergence of a single world market
The reduction of barriers to trade
The promotion of preferential tariffs
The increase in protectionist measures
What are the drivers of globalisation?
Leaps in communication technology
Improved transportation
Trade liberalisation
All of the above
What are the economic and social benefits of large-scale production?
Economies of scale
Increased employment
Better quality goods
All of the above
What are the effects of trade liberalisation and globalisation on firms in the Caribbean?
decreased competition
Presence of more multinational corporations
Need to advertise globally
All of the above
What are the effects of trade liberalisation and globalisation on consumers in the Caribbean?
Increased standard of living
Spread of food culture
Westernisation of the world
All of the above
What is the 'brain drain'?
The migration of skilled workers to more developed countries
The migration of unskilled workers to more developed countries
The migration of skilled workers to less developed countries
The migration of unskilled workers to less developed countries
What are the effects of trade liberalisation and globalisation on the sovereignty of territories in the Caribbean?
Exploitation of natural resources by multinational corporations
Closure of small and infant industries
Increasing imports leading to trade deficit
All of the above
What is the 'brain drain'?
The 'brain drain' refers to the migration of brain cells from one part of the brain to another.
The 'brain drain' is a term used to describe the loss of intelligence due to aging.
The 'brain drain' is a process where the brain loses its ability to think critically.
The 'brain drain' refers to the emigration of highly skilled or educated individuals from one country to another.
What is protectionism?
Free trade
Globalization
Tariffs
Protectionism
What is globalisation?
The process of increasing interconnectedness and interdependence among countries through the exchange of goods, services, information, and ideas.
The process of increasing competition and conflict among countries through the exchange of goods, services, information, and ideas.
The process of increasing isolation and self-sufficiency among countries through the exchange of goods, services, information, and ideas.
The process of decreasing interconnectedness and interdependence among countries through the exchange of goods, services, information, and ideas.
What is the impact of globalization on developing countries?
Globalization has only positive impacts on developing countries.
Globalization has only negative impacts on developing countries.
Globalization has no impact on developing countries.
Globalization has both positive and negative impacts on developing countries.
What are the advantages of trade liberalization?
Increased economic growth, job creation, access to a wider variety of goods and services, lower prices for consumers, increased competition leading to innovation and efficiency
Decreased economic growth, job loss, limited access to goods and services, higher prices for consumers, decreased competition leading to stagnation and inefficiency
Increased government control, limited market choices, higher taxes for consumers, decreased competition leading to monopolies
Increased trade deficits, decreased domestic production, limited job opportunities, higher prices for consumers, decreased competition leading to market inefficiencies
What are the consequences of brain drain on less developed countries?
Increase in innovation and economic growth, influx of skilled professionals, brain gain
Increase in human capital, increase in innovation and economic growth, surplus of skilled professionals
Loss of human capital, decrease in innovation and economic growth, shortage of skilled professionals
Decrease in human capital, increase in innovation and economic growth, surplus of skilled professionals
The exchange of goods and services by sale or barter driven by the need for resources.
Fair Trade
Globalization
Trade
Standard of Living
A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (money to assist an industry so prices can remain low).
Free Trade
Trade War
Goods and Services
Supply and Demand
When the economy of two countries depend on each other, it's called:
economic interdependence
multinational cooperation
isolationism
outsourcing
When people trade how do both sides benefit?
Countries can focus on producing specific goods from their natural resources instead of trying to create everything they need
Countries can take advantage of each other making the international market more secure
Countries are able to learn the weaknesses of other countries and exploit those for natural resources
Countries are able to enter other countries with spies and foreign agents to undermine governments.
Underdeveloped nations tend to trade what type of goods?
Low skill products
High tech goods
finished products
High skill products
What are the consequences of brain drain on less developed countries?
Decrease in human capital, increase in innovation and economic growth, surplus of skilled professionals
Loss of human capital, decrease in innovation and economic growth, shortage of skilled professionals
Increase in human capital, increase in innovation and economic growth, surplus of skilled professionals
Increase in innovation and economic growth, influx of skilled professionals, brain gain
What is the 'brain drain'?
The movement of people from rural areas to urban areas
Migration of low-skilled workers from one country to another
Emigration of highly skilled or educated individuals from one country to another
The process of transferring knowledge from one person to another
What is protectionism?
Free trade
Globalization
Tariffs
Protectionism
(a) are when a g reat deal of paper work are requested by the importing country and licensing fee to deter trade.
Countries impose (a) ,which is a total ban on good coming from a certain country.
State TWO benefits of preferential trade.
State TWO drawbacks of preferential tariffs.
Explain ONE key driver of globalization.
Barriers to trade are either ________ or ____ _______.
(a)
