Economic Globalization by LegitSwag69 – Flashcards with Answers
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How has the Internet improved business communication worldwide? Select all that apply.
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-It allows for instant communication. -It enables people to monitor economic trends. -It makes it possible buy and sell instantly.
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Why do companies choose to outsource work?
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to increase profits
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Globalization has led nations to join trade organizations in order to
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be able to compete better.
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A multinational organization is defined as a business that
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operates in multiple countries.
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How can businesses best take advantage of globalization?
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by transporting resources from distant locations
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The graph shows US trade with Mexico. https://media.education2020.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-12.png In what years did US exports to Mexico remain approximately the same?
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2000-2005
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The graph shows US Oil Import Prices from 1995 to 2010. https://media.education2020.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-21.png What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?
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NOT C (a large population growth)
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Globalization has affected developed countries by
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turning their focus to providing services.
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Trade blocs help countries by
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NEITHER B OR C (increasing barriers to trade.)(improving product production.) ITS EITHER A (limiting competition. OR D(allowing the pooling of resources.)
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The chart shows the percentage of population growth in different countries. https://media.education2020.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-16.png Based on the chart and the information in the lesson, which nation can expect to experience the most social issues of a developing country?
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Angola
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What is the primary purpose of the European Union?
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to allow more trade between countries
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A multinational organization is defined as a business that
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operates in multiple countries.
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The graph below shows global trade and percentage of GDP. https://media.education2020.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-20.png What conclusion should be drawn from the graph?
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Trade increases create higher GDP percentage rates.
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Globalization has the largest effect on
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economies.
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NAFTA can be defined as
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an agreement between bordering nations.
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The graph shows US Oil Import Prices from 1995 to 2010. https://media.education2020.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-21.png What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?
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demand from developing countries
