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WorksheetsInternational Markets & Globalization
Total questions: 52
Worksheet time: 26mins
What is one of the primary economic benefits of globalization?
Access to a larger market for goods and services
Increased local employment opportunities
Decreased competition among businesses
Reduced need for international trade
Which of the following is a cultural benefit of globalization?
Homogenization of global cultures
Increased cultural exchange and diversity
Loss of traditional cultural identities
Decreased access to international media
How does globalization impact technological advancement?
Slows down the spread of new technologies
Encourages the sharing and development of technology
Limits access to technological resources
Reduces the need for technological innovation
What is a major environmental drawback of globalization?
Increased local biodiversity
Decreased pollution levels
Greater environmental degradation due to increased production
Improved global environmental policies
Which of the following is a social drawback of globalization?
Increased income inequality
Enhanced global cooperation
Improved access to education
Greater cultural understanding
How does globalization affect employment in developed countries?
Increases job security for all workers
Leads to job outsourcing and potential job losses
Guarantees higher wages for all employees
Reduces the need for skilled labour
What is a political benefit of globalization?
Strengthening of national sovereignty
Increased isolation of countries
Decreased influence of international organisations
Enhanced international cooperation and diplomacy
Which of the following is a potential health benefit of globalization?
Limited access to global health resources
Spread of infectious diseases
Improved access to medical knowledge and technology
Decreased availability of pharmaceuticals
How does globalization influence consumer choices?
Reduces the variety of products available
Increases the cost of goods and services
Expands the range of products and services available
Limits access to international brands
What is a potential economic drawback of globalization for developing countries?
Increased foreign investment
Dependence on developed countries' markets
Diversification of local economies
Improved infrastructure development
Offshoring refers to:
Importing goods from other countries.
Moving business operations to countries with lower labor costs.
Investing in developing countries' infrastructure.
Setting international trade agreements.
A negative consequence of globalization can be:
Increased job opportunities in developed nations.
Improved environmental regulations.
More efficient production methods.
Exploitation of cheap labor in developing countries.
Globalization has led to:
Increased economic growth for some countries.
A wider variety of goods available to consumers.
Both A and B.
Neither A nor B.
The World Trade Organization (WTO) aims to:
Set rules for international trade agreements.
Promote fair trade practices globally.
Limit free trade between nations.
Protect developing countries' industries from competition.
Which statement best describes globalization?
A process of reducing international interactions
A focus solely on local markets
A process of increasing interconnectedness and interdependence among countries
A strategy to avoid international competition
What was a significant factor that drove foreign direct investment (FDI) historically?
Fear of local competition
Access to low-cost labor
A desire to control foreign governments
The need to develop new technologies
A company that invests investment (in the form of product marketing or manufacturing subsidiaries) into many countries is called ________.
Direct export company
Foreign company
Multinational company
Company with global business relationship
What are the benefits of FDI to host countries?
Repatriated earnings from profits from FDI
Learning via FDI from operations abroad
Increased exports of components and services to host countries
Access to management expertise, skills and technology
Which of the following would be considered an international business transaction?
purchasing products in one country and assembling them in the same country
recruiting employees internationally
borrowing money from a major bank to finance capital improvements
shipping finished products from one country to another for retail sale
Any organization that engages in cross-border commercial transactions with individuals, private firms, and/or public sector organizations is a(n) ________.
multinational corporation
multinational enterprise
international business
franchise
Quota
Tariff
What are some negatives of globalization?
Workers are exploited in sweatshops
Pollution and deforestation
Low wages for factory workers in Asia and Africa
All of the answers are correct
What are some positives of globalization?
Cheap sneakers and clothes
Cheap electronics
Information is easy to access and it travels quickly (internet and social media)
All of the answers are correct
Outsourcing is when companies hire:
workers from outside of the country for cheaper pay
workers from within the country for cheaper pay
workers from outside the country for higher pay
workers from within the country for higher pay
Which of the following are PROS and CONS of globalization?
spread of ideas, information, and culture
Access to a variety of products
Environmental destruction
Loss of unique and individual cultures
All of the following are correct
Offshoring refers to:
Importing goods from other countries.
Moving business operations to countries with lower labor costs.
Investing in developing countries' infrastructure.
Setting international trade agreements.
Which ancient trade route is considered an early example of globalization?
The Viking Trade Routes
The Silk Road
The Trans-Saharan Trade Route
The Roman Roads
Which of the following is NOT mentioned as a factor that traveled the threads of globalization?
Natural disasters
Diseases
Ideas
Material goods
What is a consequence of economic interdependence in the modern era?
Economic success or failure is isolated to one region
Countries become economically self-sufficient
Economic changes in one area affect all major world economies
Global trade is reduced
How do multinational corporations impact the global economy?
By limiting opportunities for expansion in multiple countries
By increasing competition in international markets
By reducing profit margins in home market
By expanding operations and increasing international trade
Which one of these companies is NOT a multinational ?
McDonalds
Subway
Tesco
Walmart (Asda)
Fill in the blanks:
A Multinational Company is one that operates over __________ or more countries.
5
12
9
2
If a business works across many countries then they should standardise their approaches and do the same thing in every country
True
False
Globalisation can be harmful on the worlds community and environment
True
False
Globalisation means a business will have more competition
True
False
Fill in the blanks:
The biggest companies in our world are no longer national firms but_____________________________________ with subsidiaries/branches in many countries.
Conglomerates
Large Companies
Multinational Corporations
International Firms
What does the CUSMA stand for?
Canada-US-Mexico free trade agreement
North American free trade agreement 2.0
Canadian Union of Shop Manufacturing Associations
Canadian-American-Mexican free trade agreement
Many critics of globalization argue that outsourcing leads to the use of _________ practices in developing countries.
underground labour
exploitive labour
neo-colonialist labour
non-competitive labour
Which one is not a method to entry International Market?
Joint Venture
Franchising
Licensing
Importing
Strategic alliances are formal agreements between two or more companies to pursue a set of agreed-upon objectives while remaining independent organizations.
True
False
In a strategic alliance, companies typically share all their resources equally.
True
False
Strategic alliances can only be formed between companies in the same industry.
True
False
One of the main benefits of a strategic alliance is the ability to enter new markets more rapidly.
True
False
The most attractive foreign markets tend to be
found in politically stable developed and developing
nations that have free market systems.
True
False
Joint venture
Involves finding a local partner to share costs and risks.
It offers the advantage of local knowledge but requires sharing control and profits.
Non of them
Benefits of Strategic alliances:
enable resource sharing, risk mitigation, and access to new technologies or competencies. They can be particularly effective in industries where technological advancements are rapid and costly.
True
False
What is an international franchising contract?
A contract between two countries for franchising businesses in both countries.
A contract between two companies for franchising business in one or multiple countries
A contract between two individuals for franchising their businesses in different regions of the same country.
In franchising, what does the franchisor typically receive from the franchisee?
A fixed yearly fee
Operational support
A percentage of profits
Royalty payment
What is a key benefit of establishing joint ventures as an entry strategy?
Full control over operations
Immediate profit generation
Gaining access to local knowledge
Complete technology security
Which of the following is NOT a benefit of licensing?
Low development costs & risks
Moderate involvement & commitment
Ability to enter foreign markets more easily
Inability to engage in global strategic coordination.
Franchising is similar to this mode of entry:
Exporting
Joint Venture
Wholly-owned Subsidiary
Licensing
