#1
Which of the following is NOT a characteristic of economic globalization?
Increased international trade
Decreased interconnectedness of economies
Greater movement of capital
Rise in multinational corporations
#2
What is the primary goal of economic transformation?
To maintain traditional economic systems
To increase economic efficiency and productivity
To reduce international trade
To limit technological advancements
#3
Which of the following is a potential benefit of economic globalization?
Increased income inequality
Limited access to new markets
Enhanced cultural exchange
Decreased competition
#4
What is a common consequence of economic transformation in developing countries?
Stagnant economic growth
Decreased foreign investment
Rising standards of living
Increased reliance on subsistence agriculture
#5
Which economic theory emphasizes the importance of government intervention to address market failures?
Neoliberalism
Keynesianism
Monetarism
Austrian School
#6
Which of the following is a characteristic of a command economy?
Private ownership of the means of production
Decentralized decision-making
Central planning by the government
Market-driven allocation of resources
#7
Which theory suggests that globalization leads to a convergence of consumer tastes and preferences worldwide?
Theory of Comparative Advantage
Dependency Theory
World Systems Theory
McDonaldization
#8
What is the main criticism of neoliberal economic policies often associated with globalization?
They promote income equality
They prioritize corporate interests over social welfare
They encourage local entrepreneurship
They emphasize government intervention in the economy
#9
Which organization is primarily responsible for facilitating international trade agreements?
World Bank
International Monetary Fund (IMF)
World Trade Organization (WTO)
United Nations (UN)
#10
What is the term for the process by which businesses or other organizations develop international influence or start operating on an international scale?
Globalization
Internationalization
Multinationalization
Transnationalization
#11
What is a primary factor contributing to income inequality in many countries?
Increasing access to education
Progressive taxation policies
Globalization and technological advancements
Government subsidies
#12
Which economic concept refers to the situation where a single entity, either an individual or a firm, has exclusive control over a market for a particular product or service?
Monopoly
Oligopoly
Perfect competition
Monopsony
#13
Which term refers to the process by which national economies, politics, and cultures become integrated with those of other nations?
Internationalization
Localization
Globalization
Nationalization
#14
Which of the following is an example of a non-tariff barrier to trade?
Import quotas
Customs duties
Excise taxes
Trade agreements
#15
In the context of international trade, what does the term 'dumping' refer to?
Exporting goods at a price lower than the domestic market price
Imposing tariffs on imported goods
Equalizing trade imbalances through subsidies
Negotiating preferential trade agreements
#16
Which of the following is an example of a trade surplus?
A country exports more goods than it imports
A country imports more goods than it exports
A country experiences a deficit in its balance of trade
A country imposes tariffs on imported goods
#17
Which of the following is an example of a non-renewable resource?
Solar energy
Wind energy
Coal
Hydroelectric power