WorksheetsGlobalization Quiz
Total questions: 55
Worksheet time: 32mins
Write the word correctly - G L _ B _ _ I_ _T _ N
(a)
The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information is the...
Multiculturalism
International Trade
Globalization
Ecommerce
The comparative advantage encouraged by the globalization, brings these effects to the society:
Promotes economic growth
Lowers prices of goods and services
Makes production more efficient
All of the above
This benefit tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies.
Economies of scale
Foreign Direct Investment
Technological Innovation
Globalization enables large companies to realize economies of scale that reduce costs and prices, which in turn supports further economic growth, although this can hurt many small businesses attempting to compete domestically.
Economies of scale
Technological Innovation
Foreign Direct Investment
Are there pro's and con's or does every run perfectly?
Only pro's
Only con's
Both
BothGlobalization doesn't exist
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
Who typically ends up paying tariffs?
Importers and/or consumers
The International Monetary Fund
Congress
Exporters
When the economy of two countries depend on each other, it's called:
economic interdependence
multinational cooperation
isolationism
outsourcing
Which of the following was instrumental in creating the global economy that exists today?
The use of high taxes for imports and exports
Improvements in technology such as the Internet
The creation of one form of currency (money) used to trade
The success of the Communist governments in guiding trade
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
Alice likes to buy corn in bulk from Tom. She stores it in her warehouse before selling it to her customers. She is considered a
wholesaler
retailer
Tom grows corn to sell at the local market. He is considered a
Producer
Wholesaler
FDI stands for
federal direct investment
federal domestic investment
foreign direct investment
foreign denominated investment
One of the biggest concerns about globalization has been
loss of manufacturing jobs in developed countries
increasing diversity in society
rise of inexpensive goods in global trade
decreasing power of MNCs
One country in particular that has experienced enormous resistance to globalization has been
Thailand
Switzerland
Saudi Arabia
France
There is disagreement as to the role that supranational organizations such as ____________ and _______________ can play to protect interests of nation states.
League of Nations, EU
NAFTA, MERCOSUR
WTO, UN
World Bank, MNCs
Products meant to satisfy the wants and needs of buyers.
Goods
Trade
Commodity
Outsourcing
According to CNN, the United States receives 80% of its avocados from Mexico. Mexico receives most of its auto parts from the United States. This is an example of the following.
Interdependence
Supply and demand
Infrastructure
Globalization
Bringing goods in from another country to sell.
import
export
A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).
Free Trade
Trade
Goods
Supply and Demand
The development of a worldwide economy where resources flow fairly freely across borders.
Globalization
Economy
GDP
Economic Independence
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
A period of temporary economic decline during which trade and industrial activity are reduced.
World Bank
Recession
Embargo
Pandemic
Fill in the blanks:
A Multinational Company is one that operates over __________ or more countries.
5
12
9
2
Which one of these companies is NOT a multinational ?
McDonalds
Subway
Tesco
Walmart (Asda)
Globalisation is a method of Business Growth
True
False
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
What are the potential drawbacks of globalization for businesses?
Increased opportunities for selling in foreign markets
Higher profit margins in home market
Decreased competition
Setting up production operations in other countries
What are the potential benefits of international trade for businesses?
Decreased competition in home market
Higher profit margins in home market
Increased opportunities for selling in foreign markets
Setting up production operations in other countries
How do global localization strategies impact the marketing costs of businesses?
Limited opportunities for selling in foreign markets
Higher profit margins in home market
Increased competition
Adapting to local market conditions and reducing marketing costs
What role do multinational corporations play in 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
How has globalization affected international trade?
What is a potential consequence of globalization on cultural diversity?
What is a common feature of multinational corporations in the era of globalization?
Emergences of E-commerce
What is a potential disadvantage of exporting goods for businesses?
Currency issues
Economies of scale
Access to wider markets
Spreading of technical knowledge
What is a potential advantage of exporting goods for businesses?
Supply chain issues
Different customs and laws
Language barriers
Increased sales and profits
What is one effect of globalisation on the labour market?
Decreased demand for multilingual employees
Increased outsourcing of jobs
Reduced cultural diversity in the workplace
Lower levels of international collaboration
Which of the following is a key driver of globalization?
Trade barriers
Advancements in communication and technology
Reduced international cooperation
Strict government regulations on trade
What is a multinational corporation (MNC)?
A business that operates in only one country
A business that operates in multiple countries
A government-run business
A small, local business
Which of the following is NOT a benefit of globalization?
Access to a larger customer base
Lower production costs in certain regions
Increased cultural diversity
Higher trade barriers
How does globalization impact competition?
It reduces competition by limiting market access
It increases competition by opening markets globally
It eliminates the need for competitive strategies
It only affects competition in developing countries
What is an example of foreign direct investment (FDI)?
A local company exporting its products overseas
A multinational company opening a factory in another country
A government imposing tariffs on imports
A consumer purchasing foreign goods
Which of the following is a challenge of globalization?
Increased local business monopolies
Reduced opportunities for international collaboration
Environmental concerns due to increased production and trade
Decreased access to skilled labor
What is a trade bloc?
A group of countries that have agreed to reduce or eliminate trade barriers among themselves
A single country that controls all international trade
A global organization focused on reducing cultural exchange
A measure to block international imports
Which of the following best describes 'protectionism'?
Encouraging free trade policies
Imposing tariffs and quotas to protect domestic industries
Increasing foreign investment in a country
Removing all trade barriers
What is the impact of globalization on developing countries?
It guarantees economic equality across all regions
It often provides access to new markets and investment but can also increase exploitation
It reduces opportunities for industrial growth
It eliminates cultural exchanges with other nations
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
Which of the following is NOT mentioned as a factor that traveled the threads of globalization?
Natural disasters
Diseases
Ideas
Material goods
