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WorksheetsChapter 1&2_IB
Total questions: 20
Worksheet time: 7mins
Which of the following is NOT a characteristic of globalization?
Increased connectivity among nations
Decline in international trade
Global spread of technology
Cultural exchange across borders
Identify the factor that has MOST contributed to the acceleration of globalization in recent decades.
Rising nationalism
Advances in information technology
Decreased consumer demand
Strict trade barriers
Globalization often leads to:
Greater economic inequality
Reduced competition in markets
Decreased international cooperation
Isolation of economies
What is one major advantage of globalization for businesses?
Increased local competition
Access to a global customer base
Higher production costs
Restrictive trade policies
Globalization can be challenging for:
Multinational corporations
Small local businesses
Governments of developing countries
All of the above
Match the following political ideologies with their key principle:
Which concept is MOST associated with Karl Marx?
Capitalism
Socialism
Democracy
Free-market economy
A political system where power is centralized in the hands of one party or leader is called:
Democracy
Totalitarianism
Oligarchy
Federalism
Which of the following systems is LEAST likely to be associated with individualism?
Free-market capitalism
Totalitarianism
Liberal democracy
Mixed economy
In which type of economy does the government have the greatest control over production?
Market economy
Command economy
Mixed economy
Traditional economy
Identify the form of totalitarianism that is based on a religious doctrine:
Theocratic totalitarianism
Tribal totalitarianism
Communist totalitarianism
Right-wing totalitarianism
True or False: In a market economy, production and pricing are regulated by the government.
True
False
Which legal system relies heavily on court decisions and precedent?
Civil law
Common law
Theocratic law
Customary law
What is the primary objective of the Foreign Corrupt Practices Act (FCPA)?
To prevent monopolies in the global market
To combat bribery of foreign officials by U.S. firms
To regulate cross-border mergers and acquisitions
To protect intellectual property rights
If a country scores high on the Corruption Perceptions Index, it means:
It has a high level of corruption
It has a low level of corruption
It is very competitive in international markets
It has a strong legal framework
Which statement about intellectual property is TRUE?
It includes physical assets like buildings
It refers to creations of the mind, such as inventions and trademarks
It is not protected under international law
It only pertains to software and digital content
A mixed economy typically involves:
Complete state ownership of resources
A combination of private enterprise and significant government control
Minimal government intervention in markets
An economy solely based on barter and trade
What role does product liability law play in international business?
It ensures businesses can operate without restrictions
It holds businesses accountable for harm caused by their products
It regulates pricing strategies for multinational corporations
It mandates global standards for environmental sustainability
Which of the following is a common feature of a totalitarian political system?
Free and fair elections
A single ruling party
High levels of transparency
Strong protections for civil liberties
Why is understanding the national differences in political economy important for international businesses?
It helps them navigate legal and economic challenges in different countries
It allows them to avoid paying taxes
It ensures they can exploit loopholes in international law
It makes it easier to standardize their products globally
