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1. 1.According to the UN, economic globalization refers to the increasing interdependence of world economies due to:

A) C. Protectionism and quotas
B) B. Growing cross-border trade, flow of capital, and spread of technology
C) D. Exploitation of periphery countries
D) B. Growing cross-border trade, flow of capital, and spread of technology
E) A. Government intervention only

2. 2. Which of the following is NOT a KeyActor in the Global Economy?

A) A. Nation-states
B) C. International financial institutions
C) D. Local sari-sari stores
D) B. Global corporations
E) D. Local sari-sari stores

3. 3. The Modern World System Theory was developed by:

A) D. JohnKeynes
B) B. Immanuel Wallerstein
C) A.Adam Smith
D) B. Immanuel Wallerstein
E) C. Karl Marx

4. 4. Protectionism uses which tools to limit foreign trade?

A) B. Quotas and Tariffs
B) A. Free Trade Agreements
C) C. Technology and Communication
D) B. Quotas and Tariffs
E) D. International Capital

5. 5. Which country type "exploits periphery for labor and raw materials"?

A) C. Core Countries
B) B. Semi-periphery Countries
C) A. Periphery Countries
D) A. Periphery Countries
E) D. Developing Countries

6. 6. International Trade is the process of goods and services crossing national boundaries
in exchange for:

A) B. Money or goods
B) C. Political support
C) B. Money or goods
D) D. Cultural exchange
E) A. Technology only

7. 7. Which is one of the 5 cons of globalization?
A. Encourages free trade
B. Diseases spread faster

A) B. Diseases spread faster
B) B. Diseases spread faster
C) A. Encourages free trade
D) C. Develops poor areas
E) C. Develops poor areas

8. 8. Which reason for globalization is shown when you attend a Zoom meeting with
someone in Japan instantly?

A) D. Domestic markets are not enough
B) B. Rapid shrinking of time and distance
C) A. To reduce costs
D) B. Rapid shrinking of time and distance
E) C. To get technological know-how

9. 9. Semi-periphery countries are described as the "middle class" of the world economy
that:

A) B. Stabilize the system by connecting core and periphery
B) A. Export raw materials
C) B. Stabilize the system by connecting core and periphery
D) C. Have weak central governments
E) D. Focus on high-skill production

10. 10. One pro of globalization is that it:

A) B. Encourages free trade and lower prices
B) B. Encourages free trade and lower prices
C) A. Widens the gap between rich and poor
D) D. Increases pollution
E) C. Transfers jobs to lower-cost areas

11. 11. Why do companies move production to countries like Bangladesh?

A) A. To be close to raw materials
B) C. To get technological know-how
C) D. To find political stability
D) B. To pay workers less and reduce cost
E) B. To pay workers less and reduce cost

12. 12. "Big multinational companies dominate while small sari-sari stores struggle" is an
example of which con?

A) C. Widens the gap between rich and poor
B) B. Gives more influence to the biggest and richest
C) D. Diseases spread faster
D) A. Negative impact on environment
E) C. Widens the gap between rich and poor

13. 13. Why did BPO companies set up in the Philippines?

A) A. To reduce transportation costs
B) D. To encourage protectionism
C) C. To be close to raw materials
D) B. For political and economic stability, skilled workers, and lower costs
E) B. For political and economic stability, skilled workers, and lower costs

14. 14. Factories in Cavite and Cebu providing jobs from foreign companies show how
globalization:

A) A. Widens inequality
B) B. Develops poor areas of the world
C) C. Transfers jobs abroad
D) B. Develops poor areas of the world
E) D. Causes environmental damage

15. 15. Using email and Google Drive instead of sending documents by sea relates to
globalization's goal to:

A) D. Expand domestic markets
B) A. Get technological know-how
C) B. Reduce transportation and communication costs
D) B. Reduce transportation and communication costs
E) C. Find political stability

16. 16. The goal of Trade Liberalization/Free Trade is:

A) B. Discriminate against foreign competitors
B) C. Free flow of goods and services
C) C. Free flow of goods and services
D) D. Use quotas and tariffs
E) A. Protect domestic production

17. 17. Why has International Trade grown?

A) C. Because of protectionism
B) B. Increasing demand for goods/services and "globalizing" local products
C) A. Due to decreasing demand
D) D. Due to fewer technologies
E) B. Increasing demand for goods/services and "globalizing" local products C. Because of protectionism D. Due to fewer technologies

18. 18. Nike manufacturing in Vietnam/Indonesia and selling in US/Europe is an example
of:

A) A. To get managerial know-how
B) D. To reduce environmental impact
C) B. To be close to raw materials and markets
D) B. To be close to raw materials and markets
E) C. Domestic markets are not enough

19. 19.Acountry exports minerals and imports finished electronics anddepends on foreign investors for factories. This country is most likely:

A) B. Semi-periphery
B) D. Developed
C) A. Core
D) C. PeripheryD
E) C. Periphery

20. 20.If a government increases tariffs to protect local farmers from imported rice, which economic policy is this?

A) D. Free Trade
B) B. Protectionism
C) A. Trade Liberalization
D) C. Economic Globalization
E) B. Protectionism

21. 21.COVID-19 spreading worldwide in months due to travel and trade best illustrates which con of globalization?

A) C. Diseases spread
B) A. Jobs transferred
C) C. Diseases spread
D) A. Widens gap between rich and poor
E) D. Negative impact on environment

22. 22.APhilippine clothing brand cannot grow with only local buyers, so it sells online to the US and Middle East. This shows:

A) D. To get technological know-how
B) B. Domestic markets are no longer enough
C) B. Domestic markets are no longer enough
D) A. Trade Liberalization reduce cost
E) C. To be close to raw materials

23. 23.Big tech companies lobbying to pass laws that hurt smaller businesses demonstrates

A) C. Develops poor areas
B) A.Encourages free trade
C) B. Gives more influence to the biggest and richest
D) D. Opens cultural exchange
E) B. Gives more influence to the biggest and richest

24. 24.Increased shipping and factory production for export leading to ocean pollution and global warming is an example of:

A) B. Con: Negative impact on the environment
B) A. Pro: More jobs
C) B. Con: Negative impact on the environment
D) C. Reason: To reduce costs
E) D. Pro: Cultural exchange

25. 25.Which scenario best shows "Use of excess capacity" as a reason for international trade?

A) B. Expanding market outside national territory because local demand is full
B) C. Reducing risk of supply shortage
C) B. Expanding market outside national territory because local demand is full
D) D.Adding variety to product line
E) A. Importing cheaper raw materials

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