Question 1

Which best describes the key developments in trade?
A) Digital innovation and drive to sustainability
B) Reverse innovation and mass customization
C) Growth of micro multinationals
D) All of the above

Accepted Answer

Digital innovation has transformed the way trade is being conducted, with e-commerce platforms and online marketplaces connecting buyers and sellers across the globe. The drive towards sustainability has also become a key consideration in trade, with companies seeking to reduce their environmental footprint and promote ethical practices in their supply chains. Reverse innovation, where products are designed in emerging markets and then adapted for developed markets, has also become more prevalent. Mass customization, where companies tailor products and services to individual customer needs, has also emerged as a key trend. Finally, the growth of micro multinationals - small and medium-sized enterprises that operate globally - has made it easier for businesses of all sizes to access new markets and participate in international trade.

Question 2

Which of the following best describes a feature of foreign direct investment?
A) A capital investment made by a domestic party within the local economy
B) Both trade and GDP outpace it
C) Net inflows increased due to economic fragility and greater political risk
D) Majority of global FDI has been focused in service industries

Accepted Answer

Foreign Direct Investment (FDI) has indeed seen a significant portion directed towards service industries, reflecting the global shift towards a service-oriented economy. This trend highlights the increasing importance of services in economic growth and development across the world.

Question 3

Which of the following is a consequence of globalization and the free movement of people?
A) Growing intricacy and variety
B) Illegal immigrants
C) Greater diversity (gender and ethnic)
D) All of the above

Accepted Answer

Globalization and the free movement of people have led to a growing intricacy and variety in cultures and industries, as well as an increase in illegal immigration and greater diversity in terms of gender and ethnicity. Therefore, all of the given options are consequences of globalization and free movement of people.

Question 4

Which of the following is a negative repercussion associated with globalization and the free movement of people?
A) Scarcity of experienced leaders
B) Inconsistent educational standards
C) Greater exposure to risk
D) All of the above

Accepted Answer

Globalization and the free movement of people can lead to a variety of negative repercussions, including scarcity of experienced leaders due to brain drain, inconsistent educational standards as people move across borders, and greater exposure to risks such as diseases and economic instability.

Question 5

Which of the following is a perceived result of greater access to information?
A) Information claustrophobia
B) Era of increased human aid
C) Divergence of information and telecommunication technology
D) None of the above

Accepted Answer

Greater access to information can lead to information overload, sometimes referred to as "information claustrophobia," where individuals feel overwhelmed by the sheer volume of available data.

Question 6

Which of the following describes a benefit of globalization?
A) Increased competition
B) Easy access to products and services
C) Borderless careers
D) All of the above

Accepted Answer

Increased competition leads to innovation and improved quality, easy access to products and services leads to higher standards of living, and borderless careers create opportunities for skilled workers to find employment and for companies to access talent worldwide. Therefore, all of the given options are benefits of globalization.

Question 7

Which of the following does not describe a cost that results from globalization?
A) Increase in social injustice
B) Job retention in the local economy
C) Loss of sovereignty
D) Job shifts from developed to developing economies

Accepted Answer

Job retention in the local economy is a potential benefit of globalization, not a cost. The other options all point to negative consequences of globalization.

Question 8

Which of the following expresses a view associated with market globalism?
A) Globalization is driven by the free market
B) Free flow of trade and investment can be achieved by focusing on social issues
C) Believes everyone will not benefit from it
D) Assumes there should be an equitable redistribution of wealth

Accepted Answer

Market globalism is the belief that globalization is driven by the free market. This view emphasizes the importance of free trade, deregulation, and privatization as means to promote economic growth and development globally. The other options (B, C, D) do not reflect this view.

Question 9

Which of the following states a perspective a justice globalist would advocate for?
A) Free flow of trade and investment through fundamentalism and deregulation
B) Inevitability of capital flow across borders requiring promotion of fair trade
C) Believes globalism can and will benefit everyone
D) Assumes the free market dictates strategies and policies

Accepted Answer

A justice globalist would advocate for promoting fair trade to ensure the inevitability of capital flow across borders. They emphasize the need to address global inequalities and ensure that global economic policies benefit everyone, not just the wealthy and powerful.

Question 10

What are the benefits and disadvantages of globalization from a demand and supply perspective?

Accepted Answer

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Question 11

Describe outsourcing. What are the developing trends in outsourcing?

Accepted Answer

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Question 12

What are the key trends influencing globalization?

Accepted Answer

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Question 13

Identify and describe the key trends influencing globalization.

Accepted Answer

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Question 14

What are the dimensions of globalization? Describe each dimension and its components in detail.

Accepted Answer

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Question 15

Identify and evaluate the benefits and costs associated with globalization

Accepted Answer

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Quiz 1: Globalization

Which best describes the key developments in trade?

Which of the following best describes a feature of foreign direct investment?

Which of the following is a consequence of globalization and the free movement of people?

Which of the following is a negative repercussion associated with globalization and the free movement of people?

Which of the following is a perceived result of greater access to information?

Which of the following describes a benefit of globalization?

Which of the following does not describe a cost that results from globalization?

Which of the following expresses a view associated with market globalism?

Which of the following states a perspective a justice globalist would advocate for?