10 Questions
What is globalisation?
Globalisation is the economic integration and interdependence of nations as a result of free flow of capital, labour, goods and services, and exchange of technology irrespective of boundaries.
How did free trade agreements impact imports and exports?
Free trade agreements on reduction of import tariffs and taxes among nations made imports and exports easier.
What led to the world becoming a single market?
Market-friendly economic policies led to better relations among countries, resulting in the world becoming a single market.
What role did technology play in the process of globalisation?
Technological advancements such as computers, mobile phones, internet, container ships, flights, and bullet trains contributed to improved communication and faster transportation, aiding in the process of globalisation.
How did the free flow of labour and transfer of technology impact globalisation?
The free flow of labour and transfer of technology increased the interconnectedness of nations and facilitated globalisation.
What are neo liberalisation policies?
New economic policies that completely disregard government control in order to attract foreign capital investment.
Which international financial institutions enforce globalisation policies?
The World Bank and the International Monetary Fund (IMF).
What is the role of multinational companies in strengthening globalisation?
The growth of multinational companies has strengthened globalisation.
How did developing countries respond to the lack of capital and technology during globalisation?
Developing countries reduced their control to attract foreign capital investment.
What organization was formed to promote globalisation and trade?
The World Trade Organisation (WTO).
Test your knowledge on globalisation and its impact on the worldwide economy, trade agreements, free flow of labor, and technology transfer.
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