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Globalization in Business Quiz

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Questions and Answers

Which of the following is NOT a protectionist policy mentioned in the text?

Quotas

Tariffs/custom duties on imports

Free trade agreements (correct)

Subsidies on domestic products

What practice refers to selling a product abroad at a lower price than on the domestic market?

Import duties

Foreign subsidies

Globalization

Export dumping (correct)

In what century did globalization witness a significant boost?

18th century

16th century

20th century (correct)

19th century

What technological advancements played a key role in boosting globalization according to the text?

Air transport and huge ships (A) Signup and view all the answers

Why did large companies initially invest in developing countries according to the text?

To benefit from low manufacturing costs (B) Signup and view all the answers

What is the WTO's stance on dumping as per the text?

Dumping is legal unless proven to harm domestic producers (A) Signup and view all the answers

Which of the following is a government driver of globalization?

Promoting international trade agreements (A) Signup and view all the answers

What was a major milestone in the globalization process according to the text?

'The 2nd half of the 20th century' (A) Signup and view all the answers

"Dumping" refers to selling a product abroad at ________.

"Lower price than on the domestic market" (B) Signup and view all the answers

"Protectionist policies" can include all EXCEPT:

'Promotion of international trade agreements' (B) Signup and view all the answers