Economic Globalization Throughout History
18 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What term is used to describe the international exchange of goods and services in monetary units of account?

  • Global Economy (correct)
  • Local Economy
  • National Economy
  • Regional Economy

    • What is the global economy sometimes referred to as in the text?

  • Country-Specific Economy
  • Regional Economy
  • World Economy (correct)
  • Local Economy

    • Which aspect of globalization does the text mention as involving the trade of goods and services?

  • Globalization of Technology and Communication
  • Globalization of Production
  • Globalization of Financial Markets
  • Globalization of Trade (correct)

    • What does the text define as economic globalization?

    <p>Functional integration between internationally dispersed activities</p> Signup and view all the answers

    What does internationalization focus on according to the text?

    <p>Economic activities within a country</p> Signup and view all the answers

    Which term best describes the system of trade and industry across the world that has emerged due to globalization?

    <p>Globalization System</p> Signup and view all the answers

    What is the main difference between a recession and a depression?

    <p>A recession is short-term, while a depression is long-term and sustained.</p> Signup and view all the answers

    Which historical event is considered the worst economic downturn in the history of the industrialized world?

    <p>The Great Depression</p> Signup and view all the answers

    What was a significant outcome of British Industrialization in terms of globalization?

    <p>Technological advances and organizational methods spreading globally</p> Signup and view all the answers

    Which event facilitated the spread of the industrial revolution to continental Europe and North America?

    <p>Napoleonic wars</p> Signup and view all the answers

    Which historical development is associated with the archaic form of globalization?

    <p>Spread of the Silk Road connecting Asia, Africa, and Europe</p> Signup and view all the answers

    What was the contribution of the Dutch East India Company to globalization?

    <p>Founding of the Dutch East India Company played a significant role in global trade.</p> Signup and view all the answers

    What is the main purpose of the General Agreement on Tariffs and Trade (GATT)?

    <p>To serve as a forum for trade negotiations</p> Signup and view all the answers

    Which term refers to the reduction of restrictions on the free exchange of goods between nations?

    <p>Liberalization</p> Signup and view all the answers

    What does privatization involve?

    <p>Transfer of ownership from government to private sector</p> Signup and view all the answers

    What was the purpose of Neo-mercantilism in terms of economic policies?

    <p>To intervene and protect domestic industries</p> Signup and view all the answers

    What does deregulation aim to achieve in a particular industry?

    <p>Create more competition within the industry</p> Signup and view all the answers

    How did the Great Depression impact the global economy?

    <p>By increasing protectionist policies among nations</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser