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Economic Globalization Answers

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As economies grow, they demand more

A
financial assistance.
B
raw materials.
C
available labor.
D
defense services.
2
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A multinational organization is defined as a business that

A
participates in all trade organizations.
B
operates in multiple countries.
C
is always not for profit.
D
only hires employees through outsourcing.
3

Globalization has affected developed countries by

A
encouraging new products.
B
providing a solid consumer base.
C
turning their focus to providing services.
D
increasing employment for unskilled workers.
4

How has the Internet improved business communication worldwide? Select three options. It allows for instant communication.It enables people to monitor economic trends.It always provides reliable information.It ensures all messages are secure from hackers.It makes it possible to buy and sell instantly.

A
It allows for instant communication.
B
It enables people to monitor economic trends.
C
It always provides reliable information.
D
It ensures all messages are secure from hackers.
E
It makes it possible to buy and sell instantly.
5

Trade blocs help countries by

A
limiting competition.
B
increasing barriers to trade.
C
improving product production.
D
allowing the pooling of resources.
6

What are the purposes of international economic organizations? Select three answers.to resolve trade disputesto decrease regulation of product supply chainsto promote fair and successful tradeto solve the problems of various countriesto encourage trade in developing countries

A
to resolve trade disputes
B
to decrease regulation of product supply chains
C
to promote fair and successful trade
D
to solve the problems of various countries
E
to encourage trade in developing countries
7

The graph shows US trade with Mexico.In what years did US exports to Mexico remain approximately the same?

Question illustration
A
1990–1995
B
1995–2000
C
2000–2005
D
2005–2010
8

The graph below shows global trade and percentage of GDP.What conclusion should be drawn from the graph?

Question illustration
A
Trade has minimal impact on GDP.
B
Trade increased between 1980 and 1990.
C
Trade between nations declined between 1990 and 2000.
D
Trade increases create higher GDP percentage rates.
9

How can businesses best take advantage of globalization?

A
by increasing employment and production
B
by communicating with suppliers and buyers
C
by transporting resources from distant locations
D
by streamlining equipment to increase production
10

The chart shows the percentage of population growth in different countries.Based on the chart and the information in the lesson, which nation can expect to experience the most social issues of a developing country?

Question illustration
A
Angola
B
Iraq
C
United Kingdom
D
United States
11

The graph shows US Oil Import Prices from 1995 to 2010.What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?

Question illustration
A
a global recession
B
scarcity of petroleum
C
a large population growth
D
demand from developing countries
12

What is the primary purpose of the European Union?

A
to create a common currency
B
to allow more trade between countries
C
to encourage immigration from one country to another
D
to permit workers to seek employment in international areas
13

Globalization has the largest effect on

A
employment.
B
businesses.
C
economies.
D
transportation.
14

Globalization has led nations to join trade organizations in order to

A
be able to compete better.
B
regulate the supply of products.
C
respond better to global trends.
D
monitor the global economy.
15

Why do companies choose to outsource work?

A
to increase profits
B
to improve products
C
to cut transportation costs
D
to develop local resources
16

Which group is an example of a commodity organization?

A
European Union
B
World Trade Organization
C
North American Free Trade Agreement
D
Organization of Petroleum Exporting Countries

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