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Globalization Reviewer: Key Points and Important Details

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Globalization Reviewer: Key Points and Important Details

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Questions and Answers

What is globalization?

A process of reducing global connections

A process of integration and international influence of economies and cultures (correct)

A process of restricting trade

A process of isolation and local influence of economies and cultures

How does globalization affect the movement of goods?

It limits the exchange of goods between countries

It reduces restrictions to movements of capital and investments (correct)

It increases barriers to international trade

It reduces technology advancements in transportation

What is one example of globalization in economics mentioned in the text?

Increased barriers to international trades

Reducing global connections in economy

Multinational corporations operating only locally

Outsourcing providing new job opportunities in developing countries (correct)

How do multinational corporations benefit from globalization?

By providing 24-hour customer service across different locations Signup and view all the answers

What role does technology play in the process of globalization?

Technology advances can reveal more global outlets and reduce barriers to international trades Signup and view all the answers

How can outsourcing contribute to a struggling country's economic development?

By bringing new jobs to that country through multinational organizations Signup and view all the answers

How has globalization impacted the spread of cultures?

Through intermarriages from dating site meet-ups Signup and view all the answers

What is an example of how globalization benefits cultural exchanges?

Being able to enjoy Filipino and Korean food in various countries Signup and view all the answers

How has technology contributed to globalization?

By enabling immediate reporting of worldwide news via global networks Signup and view all the answers

What has facilitated the growth of globalization according to the text?

Improved travel options and job opportunities Signup and view all the answers

Which factor plays a significant role in pushing globalization according to the text?

Faster modes of travel like planes Signup and view all the answers

How does the internet contribute to globalization?

Enabling enrollment in online educational programs globally Signup and view all the answers