#1
Which of the following is NOT a characteristic of economic globalization?
Limited flow of capital across borders
ExplanationCharacteristic contrary to the essence of globalization.
#2
Which of the following is a potential positive impact of economic globalization?
Greater access to new markets
ExplanationExpanding market opportunities due to global integration.
#3
Which of the following best defines economic globalization?
The process of opening national economies to international trade and investment
ExplanationCore concept of integrating national economies with global markets.
#4
Which industry has been significantly impacted by economic globalization due to outsourcing and offshoring of production?
Manufacturing
ExplanationNotable effects on production relocation and supply chains.
#5
Which of the following is a measure of economic globalization that considers the flow of goods, services, and investments across national borders?
Foreign Direct Investment (FDI)
ExplanationIndicator of cross-border financial transactions.
#6
What term describes the process by which economic policies influence and are influenced by global events and trends?
Economic interdependence
ExplanationMutual reliance of economies on global factors.
#7
Which organization is primarily responsible for setting global trade rules and resolving disputes among member countries?
World Trade Organization (WTO)
ExplanationCentral authority for international trade regulations.
#8
What is a potential consequence of economic globalization on labor markets in developed countries?
Decreased wages for low-skilled workers
ExplanationResulting in reduced earnings for certain labor segments.
#9
Which of the following is an example of a supranational organization that promotes economic integration among member states?
European Union (EU)
ExplanationIllustration of regional economic cooperation.
#10
What is a major criticism of economic globalization related to environmental sustainability?
Excessive resource exploitation
ExplanationOveruse of natural resources with environmental repercussions.
#11
What is a criticism often leveled against economic globalization?
Widening income inequality
ExplanationResulting disparity in wealth distribution.
#12
What is the term used to describe the phenomenon where multinational corporations exert significant influence over global economic policies and practices?
Corporate globalization
ExplanationDominance of multinational entities in shaping economic norms.
#13
What is a potential social impact of economic globalization?
Increased cultural homogeneity
ExplanationTrend toward cultural uniformity due to global integration.
#14
Which of the following factors contributes to the resistance against economic globalization?
Concerns about loss of national sovereignty
ExplanationFears of diminished control over national affairs.
#15
Which of the following is an example of a policy aimed at mitigating the negative impacts of economic globalization?
Social safety nets for vulnerable populations
ExplanationMeasures to protect marginalized groups from adverse effects of globalization.