Globalisation MCQ 2

Questions and Answers

The reduction of international trade

The decline of multinational companies

Increased economic independence among nations

The interdependence of economies upon one another (correct)

Decreased availability of transportation

Increased trade between countries (correct)

The Internet (correct)

All of the above

A standardised product such as an Apple iPhone (correct)

A locally sourced fruit

A traditional Indian sari

A bespoke suit made in London

Increased availability and affordability of transportation Signup and view all the answers

To promote international trade Signup and view all the answers

Emphasis on science education Signup and view all the answers

To access the EU market Signup and view all the answers

Low corporation tax Signup and view all the answers

To take advantage of lower costs of production Signup and view all the answers

English speaking population Signup and view all the answers

Study Notes

Globalisation involves the flow of goods, services, people, culture, and knowledge across international borders.
It represents the interdependence of economies on each other and the interconnections between countries worldwide.

The Internet has enabled instant communication between firms and individuals, facilitating global connections.
Increased international trade has been promoted by the World Trade Organisation and trade deals between countries.
Improved transportation infrastructure, such as air travel, has increased labour mobility and the transport of raw materials.
The growing presence of multinational companies, like Apple and Google, has contributed to globalisation.
The proliferation of standardised "global products", such as the Apple iPhone, has also driven globalisation.

Lower corporation tax in host country (e.g. 21% in US vs 15% in Ireland)
Access to skilled labor (e.g. Ireland's emphasis on science education attracts pharmaceutical firms)
Access to markets (e.g. US firms locate to Ireland to access EU markets, reducing transport costs and trade barriers)
Lower costs of production (e.g. in less developed countries)
Grants and incentives offered by host country