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Contributed by: CLARK KENN
  • 1. 1.According to the UN, economic globalization refers to the increasing interdependence of world economies due to:
A) A. Government intervention only
B) B. Growing cross-border trade, flow of capital, and spread of technology
C) C. Protectionism and quotas
D) D. Exploitation of periphery countries
E) B. Growing cross-border trade, flow of capital, and spread of technology
  • 2. 2. Which of the following is NOT a KeyActor in the Global Economy?
A) B. Global corporations
B) D. Local sari-sari stores
C) A. Nation-states
D) C. International financial institutions
E) D. Local sari-sari stores
  • 3. 3. The Modern World System Theory was developed by:
A) C. Karl Marx
B) D. JohnKeynes
C) B. Immanuel Wallerstein
D) B. Immanuel Wallerstein
E) A.Adam Smith
  • 4. 4. Protectionism uses which tools to limit foreign trade?
A) C. Technology and Communication
B) B. Quotas and Tariffs
C) D. International Capital
D) A. Free Trade Agreements
E) B. Quotas and Tariffs
  • 5. 5. Which country type "exploits periphery for labor and raw materials"?
A) D. Developing Countries
B) B. Semi-periphery Countries
C) A. Periphery Countries
D) C. Core Countries
E) A. Periphery Countries
  • 6. 6. International Trade is the process of goods and services crossing national boundaries
    in exchange for:
A) B. Money or goods
B) D. Cultural exchange
C) B. Money or goods
D) C. Political support
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) C. Develops poor areas
C) A. Encourages free trade
D) C. Develops poor areas
E) B. Diseases spread faster
  • 8. 8. Which reason for globalization is shown when you attend a Zoom meeting with
    someone in Japan instantly?
A) C. To get technological know-how
B) D. Domestic markets are not enough
C) B. Rapid shrinking of time and distance
D) B. Rapid shrinking of time and distance
E) A. To reduce costs
  • 9. 9. Semi-periphery countries are described as the "middle class" of the world economy
    that:
A) D. Focus on high-skill production
B) B. Stabilize the system by connecting core and periphery
C) C. Have weak central governments
D) A. Export raw materials
E) B. Stabilize the system by connecting core and periphery
  • 10. 10. One pro of globalization is that it:
A) D. Increases pollution
B) B. Encourages free trade and lower prices
C) A. Widens the gap between rich and poor
D) B. Encourages free trade and lower prices
E) C. Transfers jobs to lower-cost areas
  • 11. 11. Why do companies move production to countries like Bangladesh?
A) D. To find political stability
B) B. To pay workers less and reduce cost
C) C. To get technological know-how
D) B. To pay workers less and reduce cost
E) A. To be close to raw materials
  • 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) A. Negative impact on environment
C) B. Gives more influence to the biggest and richest
D) C. Widens the gap between rich and poor
E) D. Diseases spread faster
  • 13. 13. Why did BPO companies set up in the Philippines?
A) C. To be close to raw materials
B) D. To encourage protectionism
C) A. To reduce transportation costs
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) D. Causes environmental damage
B) B. Develops poor areas of the world
C) B. Develops poor areas of the world
D) C. Transfers jobs abroad
E) A. Widens inequality
  • 15. 15. Using email and Google Drive instead of sending documents by sea relates to
    globalization's goal to:
A) B. Reduce transportation and communication costs
B) C. Find political stability
C) B. Reduce transportation and communication costs
D) A. Get technological know-how
E) D. Expand domestic markets
  • 16. 16. The goal of Trade Liberalization/Free Trade is:
A) C. Free flow of goods and services
B) A. Protect domestic production
C) D. Use quotas and tariffs
D) C. Free flow of goods and services
E) B. Discriminate against foreign competitors
  • 17. 17. Why has International Trade grown?
A) B. Increasing demand for goods/services and "globalizing" local products C. Because of protectionism D. Due to fewer technologies
B) B. Increasing demand for goods/services and "globalizing" local products
C) A. Due to decreasing demand
D) D. Due to fewer technologies
E) C. Because of protectionism
  • 18. 18. Nike manufacturing in Vietnam/Indonesia and selling in US/Europe is an example
    of:
A) D. To reduce environmental impact
B) B. To be close to raw materials and markets
C) B. To be close to raw materials and markets
D) A. To get managerial know-how
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) C. PeripheryD
B) D. Developed
C) A. Core
D) C. Periphery
E) B. Semi-periphery
  • 20. 20.If a government increases tariffs to protect local farmers from imported rice, which economic policy is this?
A) C. Economic Globalization
B) D. Free Trade
C) A. Trade Liberalization
D) B. Protectionism
E) B. Protectionism
  • 21. 21.COVID-19 spreading worldwide in months due to travel and trade best illustrates which con of globalization?
A) A. Widens gap between rich and poor
B) C. Diseases spread
C) C. Diseases spread
D) A. Jobs transferred
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) A. Trade Liberalization reduce cost
B) B. Domestic markets are no longer enough
C) B. Domestic markets are no longer enough
D) C. To be close to raw materials
E) D. To get technological know-how
  • 23. 23.Big tech companies lobbying to pass laws that hurt smaller businesses demonstrates
A) B. Gives more influence to the biggest and richest
B) D. Opens cultural exchange
C) C. Develops poor areas
D) A.Encourages free trade
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) A. Pro: More jobs
B) B. Con: Negative impact on the environment
C) D. Pro: Cultural exchange
D) B. Con: Negative impact on the environment
E) C. Reason: To reduce costs
  • 25. 25.Which scenario best shows "Use of excess capacity" as a reason for international trade?
A) C. Reducing risk of supply shortage
B) A. Importing cheaper raw materials
C) B. Expanding market outside national territory because local demand is full
D) D.Adding variety to product line
E) B. Expanding market outside national territory because local demand is full
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