Question 1

The smallest BRIC country in terms of population is Brazil.

Accepted Answer

The smallest BRIC country in terms of population is actually Russia, with a population of approximately 144 million. Brazil, on the other hand, has a population of approximately 209 million.

Question 2

Many people feel that as globalization increases,war becomes less likely.

Accepted Answer

Many scholars argue that globalization promotes interdependence, cooperation, and peaceful conflict resolution through international institutions and trade relationships, which ultimately reduces the likelihood of war.

Question 3

The end of Stalin's reign marked the demise of Communist rule in the Soviet Union.

Accepted Answer

Stalin's death in 1953 did not mark the end of Communist rule in the Soviet Union; it continued until the dissolution of the Soviet Union in 1991.

Question 4

Offshoring is a form of outsourcing.

Accepted Answer

Offshoring is a form of outsourcing where a company contracts work to be done in another country. Therefore, the statement is true.

Question 5

The U.S.industry that has suffered the most losses from globalization is manufacturing.

Accepted Answer

Manufacturing industries in the U.S. have faced significant challenges due to globalization, including competition from cheaper foreign labor and imports, leading to job losses and factory closures.

Question 6

The World Trade Organization's two main functions are to oversee international trade and to provide a more objective forum to settle trade disputes.

Accepted Answer

This is a correct statement that accurately describes the two main functions of the World Trade Organization (WTO). The WTO was established in 1995 to promote free and fair trade, and it serves as a global forum for negotiating trade agreements, monitoring national trade policies, and resolving disputes between member countries. The organization has 164 member countries and is the only international body dealing with the rules of trade between nations.

Question 7

Hybridization presents a more negative outlook of the future than McDonaldization.

Accepted Answer

Hybridization, which involves the blending of cultures, technologies, or practices, often carries a neutral or positive outlook on the future, emphasizing innovation and cultural exchange. McDonaldization, on the other hand, critiques the standardization, predictability, and control within societal institutions, suggesting a more negative view of the future due to potential dehumanization and loss of individuality.

Question 8

Fortunately,the United States did not engage in distributing propaganda during the Cold War.

Accepted Answer

The United States did engage in distributing propaganda during the Cold War, primarily through its propaganda agency, the United States Information Agency (USIA). The goal was to promote the United States' political ideology and counter the spread of communism. The USIA created and distributed films, books, pamphlets, and other media materials in multiple languages throughout the world.

Question 9

Dealing with software piracy and counterfeiting is a major disadvantage of doing business with China.

Accepted Answer

China has been known for its high rates of software piracy and counterfeiting, which can be a major challenge for companies doing business there. This can lead to loss of revenue and damage to a company's reputation. However, there are measures that can be taken to mitigate this risk, such as implementing strong contracts and partnerships with trusted suppliers.

Question 10

By 2008,Russia was the world's largest producer of biofuels.

Accepted Answer

This statement is false. In 2008, Russia was not a significant producer of biofuels, and other countries such as the United States, Brazil, and Germany were the largest producers.

Question 11

ECOSOC is a division of the UN that focuses on improving the standard of living within UN member states.

Accepted Answer

ECOSOC (Economic and Social Council) is a division of the UN that focuses on promoting sustainable development, economic growth, and social inclusion to improve the standard of living within UN member states.

Question 12

The arrival of the Portuguese royal family in Brazil in the early 19th century brought on a period of prosperity.

Accepted Answer

The arrival of the Portuguese royal family in Brazil in 1808 brought about significant changes and economic growth, leading to a period of prosperity.

Question 13

Globalization includes the exchange of money,products,information,services,and expertise between people in different parts of the world.

Accepted Answer

Globalization is defined as the process of interaction and integration among people, companies, and governments of different nations. This involves the exchange of various elements such as finances, goods, information, services, and knowledge across borders. Therefore, the statement is true that globalization includes the exchange of money, products, information, services, and expertise between people in different parts of the world.

Question 14

All members of the EU use the same currency,the euro.

Accepted Answer

Not all EU members use the euro; some countries, like Denmark and Sweden, have opted to keep their own currencies.

Question 15

The World Economic Forum is a non-profit organization.

Accepted Answer

The World Economic Forum (WEF) is a non-profit organization based in Geneva, Switzerland. It was established in 1971 with the aim of improving the state of the world through public-private cooperation.

Question 16

The Association of Southeast Asian Nations is a trade alliance.

Accepted Answer

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization that promotes economic cooperation, political and security cooperation, and socio-cultural cooperation among its member countries in Southeast Asia. Therefore, ASEAN is a trade alliance.

Question 17

A disadvantage of doing business with India is that few people in the country speak English.

Accepted Answer

This statement is false. While it may be true that not everyone in India speaks English, English is widely spoken and is actually an official language of the Indian government. In fact, many businesses in India conduct their operations in English.

Question 18

Getting a job in today's world is still a local process in which you are competing with local applicants.

Accepted Answer

Today's job market is increasingly global, with remote work and digital platforms allowing individuals to apply for positions worldwide, thus competing with applicants from various locations, not just locally.

Question 19

The shift in technology that triggered globalization began in the 1970s when businesses began using ICTs first developed in the Cold War.

Accepted Answer

The statement correctly states that the shift in technology that triggered globalization began in the 1970s with the use of information and communication technologies (ICTs). These technologies were initially developed during the Cold War and adapted by businesses for commercial use.

Question 20

The Cold War was a political and ideological conflict between China and the United States.

Accepted Answer

The Cold War was a political and ideological conflict between the Soviet Union and the United States, not China.

Quiz 14: Globalization: Managing Effectively in a Global Economic Environment