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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) D. Exploitation of periphery countries
B) A. Government intervention only
C) B. Growing cross-border trade, flow of capital, and spread of technology
D) C. Protectionism and quotas
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) D. Local sari-sari stores
B) B. Global corporations
C) A. Nation-states
D) D. Local sari-sari stores
E) C. International financial institutions
  • 3. 3. The Modern World System Theory was developed by:
A) B. Immanuel Wallerstein
B) D. JohnKeynes
C) C. Karl Marx
D) B. Immanuel Wallerstein
E) A.Adam Smith
  • 4. 4. Protectionism uses which tools to limit foreign trade?
A) A. Free Trade Agreements
B) C. Technology and Communication
C) B. Quotas and Tariffs
D) B. Quotas and Tariffs
E) D. International Capital
  • 5. 5. Which country type "exploits periphery for labor and raw materials"?
A) B. Semi-periphery Countries
B) A. Periphery Countries
C) A. Periphery Countries
D) D. Developing Countries
E) C. Core Countries
  • 6. 6. International Trade is the process of goods and services crossing national boundaries
    in exchange for:
A) D. Cultural exchange
B) B. Money or goods
C) A. Technology only
D) C. Political support
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) C. Develops poor areas
C) A. Encourages free trade
D) B. Diseases spread faster
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) B. Rapid shrinking of time and distance
B) B. Rapid shrinking of time and distance
C) C. To get technological know-how
D) A. To reduce costs
E) D. Domestic markets are not enough
  • 9. 9. Semi-periphery countries are described as the "middle class" of the world economy
    that:
A) D. Focus on high-skill production
B) C. Have weak central governments
C) A. Export raw materials
D) B. Stabilize the system by connecting core and periphery
E) B. Stabilize the system by connecting core and periphery
  • 10. 10. One pro of globalization is that it:
A) C. Transfers jobs to lower-cost areas
B) A. Widens the gap between rich and poor
C) D. Increases pollution
D) B. Encourages free trade and lower prices
E) B. Encourages free trade and lower prices
  • 11. 11. Why do companies move production to countries like Bangladesh?
A) D. To find political stability
B) C. To get technological know-how
C) A. To be close to raw materials
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) B. Gives more influence to the biggest and richest
B) A. Negative impact on environment
C) C. Widens the gap between rich and poor
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) D. To encourage protectionism
B) B. For political and economic stability, skilled workers, and lower costs
C) C. To be close to raw materials
D) A. To reduce transportation 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) B. Develops poor areas of the world
B) B. Develops poor areas of the world
C) A. Widens inequality
D) D. Causes environmental damage
E) C. Transfers jobs abroad
  • 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) B. Reduce transportation and communication costs
C) C. Find political stability
D) A. Get technological know-how
E) B. Reduce transportation and communication costs
  • 16. 16. The goal of Trade Liberalization/Free Trade is:
A) B. Discriminate against foreign competitors
B) A. Protect domestic production
C) C. Free flow of goods and services
D) C. Free flow of goods and services
E) D. Use quotas and tariffs
  • 17. 17. Why has International Trade grown?
A) D. Due to fewer technologies
B) A. Due to decreasing demand
C) B. Increasing demand for goods/services and "globalizing" local products
D) B. Increasing demand for goods/services and "globalizing" local products C. Because of protectionism 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) C. Domestic markets are not enough
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) D. To reduce environmental impact
  • 19. 19.Acountry exports minerals and imports finished electronics anddepends on foreign investors for factories. This country is most likely:
A) D. Developed
B) C. PeripheryD
C) C. Periphery
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) A. Trade Liberalization
B) C. Economic Globalization
C) B. Protectionism
D) B. Protectionism
E) D. Free Trade
  • 21. 21.COVID-19 spreading worldwide in months due to travel and trade best illustrates which con of globalization?
A) A. Jobs transferred
B) D. Negative impact on environment
C) C. Diseases spread
D) C. Diseases spread
E) A. Widens gap between rich and poor
  • 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) C. To be close to raw materials
C) B. Domestic markets are no longer enough
D) A. Trade Liberalization reduce cost
E) B. Domestic markets are no longer enough
  • 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) B. Gives more influence to the biggest and richest
C) D. Opens cultural exchange
D) A.Encourages free trade
E) C. Develops poor areas
  • 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) C. Reason: To reduce costs
C) B. Con: Negative impact on the environment
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) B. Expanding market outside national territory because local demand is full
B) B. Expanding market outside national territory because local demand is full
C) A. Importing cheaper raw materials
D) D.Adding variety to product line
E) C. Reducing risk of supply shortage
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