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BRICS and India's Caste System Quiz

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Questions and Answers

What concept does the phrase 'no man is an island' represent for countries?

Isolationism

Colonialism

Economic Interdependence (correct)

Nationalism

According to Manfred Steger, what does globalization coexist with?

Global free market capitalism (correct)

Protectionism

Localism

Communism

What choice is a state forced upon according to the text?

Rejecting any economic partnership

Conforming to free market principles (correct)

Isolation from global affairs

National self-sufficiency

What element of economic sovereignty does Thomas Friedman claim the states have lost?

Foreign Direct Investment control Signup and view all the answers

Why do national governments place their interests on their own citizens according to the text?

To prioritize the welfare of their citizens Signup and view all the answers

What does a country suffer from if economic interdependence is not exercised?

Trade deficits Signup and view all the answers

Which term best describes the situation when a country is economically reliant on other nations?

Economic Interdependence Signup and view all the answers

'Fine-tuning competitive strategies' is emphasized in the text as a way for states to:

'Stay ahead' Signup and view all the answers

Which of the following best describes the core meaning of the term 'globalization' according to the text?

The spread of products, investments, and technology across national borders and countries Signup and view all the answers

Which aspect of globalization is described as 'a process linked by interconnected cross-border production'?

Industrial globalization Signup and view all the answers

What does 'financial globalization' refer to?

International lending institutions for capital outlay to developing countries Signup and view all the answers

Which of the following is described as 'the operation or planning of economic and foreign policy on a global basis'?

Globalism Signup and view all the answers

What does 'political globalization' refer to?

The growth of the worldwide political system both in size and complexity Signup and view all the answers

Which of the following is NOT mentioned as an aspect of globalization in the text?

Cultural globalization Signup and view all the answers

What does the text state is enabled by 'industrial globalization'?

Firms to enter into new markets, capitalize on technological organizational advantages, and reduce cost Signup and view all the answers

Which term is used in the text to describe 'attempts to understand the interconnectedness of the world' in terms of transportation and communication?