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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) B. Growing cross-border trade, flow of capital, and spread of technology
B) C. Protectionism and quotas
C) B. Growing cross-border trade, flow of capital, and spread of technology
D) A. Government intervention only
E) D. Exploitation of periphery countries
  • 2. 2. Which of the following is NOT a KeyActor in the Global Economy?
A) D. Local sari-sari stores
B) C. International financial institutions
C) B. Global corporations
D) D. Local sari-sari stores
E) A. Nation-states
  • 3. 3. The Modern World System Theory was developed by:
A) B. Immanuel Wallerstein
B) B. Immanuel Wallerstein
C) D. JohnKeynes
D) A.Adam Smith
E) C. Karl Marx
  • 4. 4. Protectionism uses which tools to limit foreign trade?
A) B. Quotas and Tariffs
B) D. International Capital
C) B. Quotas and Tariffs
D) C. Technology and Communication
E) A. Free Trade Agreements
  • 5. 5. Which country type "exploits periphery for labor and raw materials"?
A) D. Developing Countries
B) C. Core Countries
C) A. Periphery Countries
D) B. Semi-periphery 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) A. Technology only
C) C. Political support
D) D. Cultural exchange
E) B. Money or goods
  • 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) A. Encourages free trade
C) B. Diseases spread faster
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) A. To reduce costs
B) D. Domestic markets are not enough
C) C. To get technological know-how
D) B. Rapid shrinking of time and distance
E) B. Rapid shrinking of time and distance
  • 9. 9. Semi-periphery countries are described as the "middle class" of the world economy
    that:
A) D. Focus on high-skill production
B) A. Export raw materials
C) B. Stabilize the system by connecting core and periphery
D) B. Stabilize the system by connecting core and periphery
E) C. Have weak central governments
  • 10. 10. One pro of globalization is that it:
A) B. Encourages free trade and lower prices
B) D. Increases pollution
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) B. To pay workers less and reduce cost
B) A. To be close to raw materials
C) D. To find political stability
D) B. To pay workers less and reduce cost
E) C. To get technological know-how
  • 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) C. Widens the gap between rich and poor
C) D. Diseases spread faster
D) A. Negative impact on environment
E) B. Gives more influence to the biggest and richest
  • 13. 13. Why did BPO companies set up in the Philippines?
A) C. To be close to raw materials
B) B. For political and economic stability, skilled workers, and lower costs
C) A. To reduce transportation costs
D) D. To encourage protectionism
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) B. Develops poor areas of the world
B) A. Widens inequality
C) B. Develops poor areas of the world
D) C. Transfers jobs abroad
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) C. Free flow of goods and services
B) C. Free flow of goods and services
C) D. Use quotas and tariffs
D) A. Protect domestic production
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) C. Because of protectionism
C) A. Due to decreasing demand
D) B. Increasing demand for goods/services and "globalizing" local products
E) 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) C. Domestic markets are not enough
D) B. To be close to raw materials and markets
E) B. To be close to raw materials and markets
  • 19. 19.Acountry exports minerals and imports finished electronics anddepends on foreign investors for factories. This country is most likely:
A) C. PeripheryD
B) C. Periphery
C) D. Developed
D) A. Core
E) B. Semi-periphery
  • 20. 20.If a government increases tariffs to protect local farmers from imported rice, which economic policy is this?
A) B. Protectionism
B) D. Free Trade
C) C. Economic Globalization
D) A. Trade Liberalization
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. Widens gap between rich and poor
C) A. Jobs transferred
D) D. Negative impact on environment
E) C. Diseases spread
  • 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) D. To get technological know-how
D) B. Domestic markets are no longer enough
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) B. Gives more influence to the biggest and richest
C) A.Encourages free trade
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) C. Reason: To reduce costs
B) B. Con: Negative impact on the environment
C) A. Pro: More jobs
D) B. Con: Negative impact on the environment
E) D. Pro: Cultural exchange
  • 25. 25.Which scenario best shows "Use of excess capacity" as a reason for international trade?
A) D.Adding variety to product line
B) B. Expanding market outside national territory because local demand is full
C) B. Expanding market outside national territory because local demand is full
D) A. Importing cheaper raw materials
E) C. Reducing risk of supply shortage
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