Controversies Surrounding Globalization
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What is the main concern regarding globalization in the academic discourse?

  • The effects of globalization on cultural diversity
  • The role of social media in globalization
  • The impact of globalization on climate change
  • Whether globalization is a fact at all (correct)

Which economic blocks are mentioned as being involved in roughly 90 percent of world trade?

  • EU, North America, and Japan (correct)
  • GCC countries (Gulf Cooperation Council)
  • BRICS countries (Brazil, Russia, India, China, South Africa)
  • ASEAN countries (Association of Southeast Asian Nations)

What is the division like when it comes to opinions on globalization?

  • Democracies and autocracies
  • Developed and developing nations
  • Western and Eastern countries
  • Supporters and critics (correct)

Why is it suggested that a more specific definition of globalization is needed?

<p>To understand its character and implications for business ethics (B)</p> Signup and view all the answers

What percentage of world trade involves the EU, North America, and Japan?

<p>Around 90 percent (A)</p> Signup and view all the answers

What does the term 'Global Trade' refer to?

<p>Exchange of goods and services between countries around the world (A)</p> Signup and view all the answers

Which term describes how businesses have adapted their operations to global markets?

<p>Globalization of Trade (B)</p> Signup and view all the answers

What do International Business Transactions cover?

<p>Agreements negotiated by businesses operating internationally (B)</p> Signup and view all the answers

What does economic integration aim to achieve?

<p>To increase overall efficiency across countries (A)</p> Signup and view all the answers

What is the essence of cross-border commerce?

<p>Moving resources from scarce areas to abundant ones (A)</p> Signup and view all the answers

How does global trade impact the economy?

<p>It allows companies to expand beyond local borders for increased sales revenue (A)</p> Signup and view all the answers

What is the main goal of cross-border commerce as mentioned in the text?

<p>To save time and money while ensuring high quality output (D)</p> Signup and view all the answers

Which organization works towards simplifying international trade processes, as mentioned in the text?

<p>World Bank Group (D)</p> Signup and view all the answers

What is a key example of economic integration mentioned in the text?

<p>European Union (C)</p> Signup and view all the answers

What do regional trading blocs aim to achieve, according to the text?

<p>Boost growth prospects for all parties involved (C)</p> Signup and view all the answers

What do global economies encompass, as mentioned in the text?

<p>A range of issues from trade policy changes to capital investments (B)</p> Signup and view all the answers

Why is it becoming feasible for even small enterprises to sell into larger markets online?

<p>Thanks to advances in technology and improved communication links (C)</p> Signup and view all the answers

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