Globalization Chapters 10-12

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Questions and Answers

What is the role of multinational corporations in the global market expansion?

They primarily regulate international trade through national policies.

They compete to restrict foreign investments.

They influence economic globalization through trade agreements and investments. (correct)

They focus solely on local market developments to maximize profit.

Which of the following best describes the impact of transport on global trade growth?

Improvements in transport infrastructure have a limited reach in developing economies.

Transport has a negligible effect on trade due to digital globalization.

Transport acts as a critical enabler for international trade by facilitating movement of goods. (correct)

Transport innovations primarily benefit local markets instead of international trade.

What challenge do trade blocs, such as Mercosur and the European Union, commonly face?

They are rigidly controlled by one dominant country.

They ensure equal economic prosperity for all member nations.

They uniformly promote free trade without restrictions.

They often encounter issues of economic inequality among member states. (correct)

Who is primarily responsible for regulating international trade?

The World Trade Organization (WTO), along with the IMF and World Bank, oversees trade regulations. (A) Signup and view all the answers

What is a common advantage of privatizing state-owned enterprises?

It typically leads to increased efficiency and innovation. (D) Signup and view all the answers

What was a primary factor that contributed to the development of economic globalization?

The Bretton Woods Agreement. (D) Signup and view all the answers

Which economic system relies on government planning rather than market forces?

Planned economy. (D) Signup and view all the answers

Which organization is primarily concerned with regulating international trade agreements?

World Trade Organization. (C) Signup and view all the answers

What best describes the system of fixated monetary values as established in the Bretton Woods framework?

Fixed exchange rates. (A) Signup and view all the answers

Which economists are mentioned in relation to theories on market economies?

Hayek and Keynes. (C) Signup and view all the answers

What is one criticism often associated with trade agreements like NAFTA?

Job losses in specific sectors. (C) Signup and view all the answers

How do countries manage their economies in a free-market system?

Via supply and demand dynamics. (A) Signup and view all the answers

What were the key purposes of the GATT agreement?

To reduce tariffs and expand global trade. (D) Signup and view all the answers

What is the primary concern associated with the exploitation of bituminous sands?

Environmental degradation (C) Signup and view all the answers

Which index measures the progress of a country beyond simple economic metrics?

Real Progress Indicator (RPI) (A) Signup and view all the answers

How is sustainability typically evaluated in relation to urbanization?

Evaluating the balance of social, environmental, and economic factors (A) Signup and view all the answers

What is the relationship between the exploitation of resources and social disparity?

It often exacerbates social disparity within regions. (B) Signup and view all the answers

What role does the Organization Mundial de Santé play in accessing resources?

Promotes access to clean water and health standards (A) Signup and view all the answers

What challenge does urbanization pose in terms of environmental management?

Reduction of biodiversity (D) Signup and view all the answers

Which of the following factors is NOT typically assessed in measuring quality of life?

Cultural history (A) Signup and view all the answers

What is a significant issue associated with the privatization of water resources?

Heightened disparities in water access (C) Signup and view all the answers

Study Notes

Chapter 10: Globalization

Globalization events: Historical development, value of currency, planned vs. market economies, improving market economies (economists/theorists: Hayek and Keynes)
Trade liberalization: Canada-US trade, advantages/disadvantages, export/import comparisons, effects on trade
Agreements & Organizations: Bretton Woods, International Monetary System (IMS), fixed/floating exchange rates, inflation, planned/free-market economies, GATT/WTO (critics), World Bank, International Monetary Fund (IMF), North American Free Trade Agreement (NAFTA) perspectives

Chapter 11: Expanding Economic Globalization

International Organizations & Agreements: how they influence global economic activity
Role of organizations in market expansion (OMC, G8, Francophonie)
Influence of multinational corporations on economic globalization

Chapter 12: Challenges and Possibilities of Economic Globalization

Understanding trade blocs: Mercosur, EU, roles, and potential for lasting prosperity, control of international trade regulations
Advantages/disadvantages of international organizations (WTO, IMF, WB)
Challenges and possibilities of liberalization in specific nations (e.g., Canada); privatization of state-owned enterprises, foreign investment attraction in specific sectors
Role of transportation in global trade.

Chapter 13: Globalization's Environmental Effects

Impact of resource exploitation (e.g., oil sands).
Environmental issues associated with resource development (environmental problems, deforestation).
Relationship between environment, societies, and the economy

Chapter 14: Global Sustainability and Prosperity

Measuring sustainability: factors to consider
Differences in regional sustainability
Indicators of progress, such as real progress indicators (IPR) and economic progress measures, which show a country's advancement and quality of life.
Factors for creating sustainable prosperity (measuring quality of life, inequality)

Chapter 15 & 16: Quality of Life, Human Rights, and Democratization

Linking quality of life with economic indicators (GDP, HDI, etc.)
Describing the relationship between quality of life and indicators like GDP, standard of living, literacy, life expectancy
Defining factors related to human rights (universal declaration, rights expansion)
Impact of globalization on democracy and human rights.

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Explore the major themes and events that shaped economic globalization in Chapters 10 to 12. Delve into the historical development, trade liberalization, and the role of international organizations in expanding economic activity. Assess the challenges and opportunities presented by trade blocs and multinational corporations.