Question 1

Most inexpensive textiles sold in the U.S. are manufactured _______	.
A) in union shops
B) by K-Pan
C) abroad
D) in southern states

Accepted Answer

Most inexpensive textiles sold in the U.S. are manufactured abroad due to lower labor costs and production expenses in other countries.

Question 2

"The Market at the bottom of the pyramid" is a phrase that refers to the concept that _______ .
A) poor people greatly outnumber the rich and buy more overall
B) rich people can spend so much in a single purchase that they are to be courted
C) selling things in the Egyptian desert
D) U.S. Federal Reserve policy

Accepted Answer

The phrase "The Market at the bottom of the pyramid" refers to the large number of poor people who collectively have significant purchasing power, despite individually having low income.

Question 3

An example of a bottom of the market product is:
A) Bulk toilet paper at a warehouse club
B) One liter bottle of generic hand soap
C) A food stamp
D) Single use packet of Pantene shampoo Correct

Accepted Answer

Bottom of the market products are typically low-cost, single-use, or small-sized items that cater to consumers with limited budgets. A single-use packet of Pantene shampoo fits this description as it is an inexpensive, small-sized product.

Question 4

Which is not a principle of creating the capacity to consume?
A) Abundance
B) Affordability
C) Access
D) Availability

Accepted Answer

Abundance is not a principle of creating the capacity to consume. The principles focus on affordability, access, and availability to ensure consumers can obtain goods and services.

Question 5

Which is not generally a characteristic of a sweatshop?
A) Overtime pay
B) Piecework schedules
C) Crowded workspace
D) Low wages

Accepted Answer

Sweatshops are typically characterized by poor working conditions, low wages, and long hours without proper compensation, such as overtime pay.

Question 6

Which company has not been accused of using sweatshop labor to profit?
A) Nike
B) Gap
C) Wal-Mart
D) None of these

Accepted Answer

All the companies listed have faced accusations or controversies related to sweatshop labor practices at some point.

Question 7

An emotive word or description is one that 	_______ .
A) has no connotation attached
B) conveys emotional content
C) carries only intellectual information
D) is clearly ambiguous

Accepted Answer

An emotive word or description is one that conveys emotional content.

Question 8

Living wage implies_______ 	.
A) the wage level set by law
B) a wage level that will allow one to own land
C) the minimum wage
D) a wage level which a person can have a dignified lifestyle

Accepted Answer

A living wage is defined as a wage level that allows an individual to afford a basic but decent standard of living, covering essential needs such as food, housing, and other necessities.

Question 9

Immiseration implies_______ 	.
A) impoverishment of workers
B) good wages for all
C) work in exchange for a just wage
D) third world hiring practices

Accepted Answer

Immiseration refers to the process by which workers become poorer or more impoverished, often due to economic or social conditions.

Question 10

"Bottom of the pyramid" refers to	 _______
A) more at the bottom than the top
B) having a strong foundation
C) large supporting structures of any type
D) Egyptian architecture

Accepted Answer

The "bottom of the pyramid" refers to the largest, poorest socio-economic group, which forms the base of the economic pyramid, indicating there are more people at the bottom than at the top.

Question 11

Wages are largely the same throughout the world.

Accepted Answer

Wages vary significantly across different countries due to factors such as cost of living, economic development, labor laws, and market demand.

Question 12

The price of raw materials varies throughout the world.

Accepted Answer

The price of raw materials is influenced by factors such as supply and demand, geopolitical events, and local economic conditions, leading to variations in different regions.

Question 13

Sweatshops generally have long hours and low pay.

Accepted Answer

Sweatshops are known for poor working conditions, including long hours and low wages, often violating labor laws and workers' rights.

Question 14

There is no market at the bottom of the pyramid.

Accepted Answer

The "bottom of the pyramid" refers to the largest, but poorest socio-economic group, and there is a market for products and services tailored to their needs.

Question 15

The most people live "at the middle of the pyramid."

Accepted Answer

The phrase "at the middle of the pyramid" is not a standard demographic term. Most people live at the base of the population pyramid, which represents younger age groups.

Question 16

The people at the bottom of the pyramid generally live on less than $2 a day.

Accepted Answer

The term "bottom of the pyramid" refers to the largest, but poorest socio-economic group, who typically live on less than $2 a day.

Question 17

Choices and self-esteem lead to opportunity.

Accepted Answer

Choices and self-esteem can empower individuals to pursue opportunities, as having options and confidence can motivate and enable people to take advantage of potential opportunities.

Question 18

India has almost no people who can be considered "very poor" on a global economic scale.

Accepted Answer

India still has a significant number of people living below the international poverty line, despite economic growth and poverty reduction efforts.

Question 19

Poverty premium means things may actually cost more in poor areas.

Accepted Answer

The poverty premium refers to the higher costs that people in poverty often pay for essential goods and services compared to those in more affluent areas.

Question 20

The poor adapt as well to technology as any other group having similar access to the given technology.

Accepted Answer

The ability to adapt to technology is not inherently limited by socioeconomic status; rather, it depends on access to technology and education. If the poor have similar access and educational opportunities, they can adapt just as well as other groups.

Quiz 16: Globalization

Most inexpensive textiles sold in the U.S. are manufactured _______ .

"The Market at the bottom of the pyramid" is a phrase that refers to the concept that _______ .

An example of a bottom of the market product is:

Which is not a principle of creating the capacity to consume?

Which is not generally a characteristic of a sweatshop?

Which company has not been accused of using sweatshop labor to profit?

An emotive word or description is one that _______ .

Living wage implies_______ .

Immiseration implies_______ .

"Bottom of the pyramid" refers to _______