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WorksheetsGlobalization Reading 1 - Economic Globalization
Total questions: 10
Worksheet time: 5mins
What is the main idea of globalisation?
People are traveling less.
The world is becoming one big village.
Technology is becoming obsolete.
Countries are becoming more isolated.
Which of the following is NOT a way to increase business profits through globalisation?
Accessing new markets for products.
Increasing production costs.
Taking advantage of cheaper labour.
Lowering production costs through cheaper resources.
What does 'industrialisation' refer to?
Opening up world markets to free trade.
The process where a country moves from mostly agriculture to mostly industry.
Trading between countries with no rules or regulations.
Countries becoming economically stable.
What is the 'North-South Divide'?
A geographical division between the North and South poles.
An economic term describing the wealth distribution between developed and underdeveloped countries.
A cultural division between different regions.
A political division between northern and southern countries.
What is one of the advantages of globalisation?
It leads to economic instability.
It reduces the quality of life.
It makes products more expensive.
It brings jobs and money to developing countries.
What is a potential disadvantage of globalisation?
It reduces the risk of local unrest.
It can lead to exploitation of foreign workers.
It eliminates corruption.
It ensures equal pay for all workers.
What does 'liberalisation' mean in the context of globalisation?
The division of wealth between the North and South.
The process of moving from agriculture to industry.
Opening up world markets to free trade and competition.
Trading between countries with strict regulations.
What is a 'developed world' country?
A country with little economic stability.
A country with economic stability and a high standard of living.
A country that is not industrialising.
A country with a majority of its population living in poverty.
What is one reason companies relocate to developing countries?
To avoid economic benefits.
To reduce market access.
To take advantage of cheaper labour and resources.
To increase production costs.
What is a potential long-term benefit of globalisation for developing countries?
Increased poverty.
Decreased job opportunities.
Economic instability.
Kick-starting the country's own economy.
