Impact of Taxes on Online Shopping Global Trends

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Questions and Answers

What significant impact did COVID-19 have on economies?

It affected individual experiences across industries. (correct)

It reduced the need for food imports.

It strengthened political systems.

It improved agricultural production.

Which country is the largest rice exporter in the world?

India (correct)

Indonesia

Vietnam

Thailand

What is one method to address hunger mentioned in the content?

Relying solely on food imports.

Balancing self-sufficiency and importation. (correct)

Enhancing urban development.

Increasing population density.

What is the primary aim of the International Monetary Fund (IMF)?

Support global economic stabilization and reconstruction. Signup and view all the answers

How does strengthening Thailand’s agricultural production benefit the region?

It provides affordable food options to the entire SEA region. Signup and view all the answers

Which country is recognized as the world's largest oil producer?

United States Signup and view all the answers

What is a significant consequence of the operations of transnational corporations (TNCs) in labor markets?

Child labor and worker neglect Signup and view all the answers

What role do TNCs play in the new international division of labor?

They seek raw materials and tap offshore low-cost labor. Signup and view all the answers

How many countries produce 72 percent of the world's oil?

Ten Signup and view all the answers

What is a common misconception about investing in countries with raised minimum wages?

Higher wages can scare off potential investors. Signup and view all the answers

Which of the following is NOT a characteristic of TNCs?

Their headquarters are always located in foreign countries. Signup and view all the answers

Which factor is NOT a reason for rapid technological changes affecting consumer behavior?

Higher product prices in physical stores. Signup and view all the answers

What precaution do governments consider when increasing minimum wage?

Attraction of foreign investors. Signup and view all the answers

What is one responsibility that countries have towards the IMF?

Determining their quota based on financial capacity Signup and view all the answers

How many countries received emergency financing from the IMF?

102 Signup and view all the answers

What is a significant action taken by the IMF during the COVID-19 pandemic?

Providing debt service relief to 29 countries Signup and view all the answers

What aspect of migrant workers does the IMF aim to protect?

Legal rights and economic well-being Signup and view all the answers

What principle did former Bangko Sentral ng Pilipinas Governor Benjamin Diokno emphasize?

Prioritizing sound economic management and reforms Signup and view all the answers

What initiative has the IMF launched to educate the public about economic concepts?

An online learning channel on YouTube Signup and view all the answers

What does Marie Kondo advocate in her challenge against consumerism?

A minimalist lifestyle Signup and view all the answers

What is the median age of marriage for men in 2017?

29.5 Signup and view all the answers

Which organization is formerly known as the International Bank for Reconstruction and Development (IBRD)?

World Bank Signup and view all the answers

How did Prime Minister Jacinda Ardern change her approach to economics?

By integrating social welfare into economic policies Signup and view all the answers

What was one of the primary functions of the World Trade Organization?

To ensure smooth trade flows among member countries Signup and view all the answers

How did the median age of marriage for women in 2017 compare to that in 1970?

It increased markedly. Signup and view all the answers

What significant lending amount did the World Bank provide to the Philippines on April 10?

$500 million Signup and view all the answers

What has been a major consequence of the military coup in Myanmar that started in 2021?

Displacement of more than a million people Signup and view all the answers

Which organization is primarily responsible for international cooperation, peace, and security?

United Nations Signup and view all the answers

How many member countries form the United Nations General Assembly?

193 Signup and view all the answers

What action did the United Nations General Assembly take against the Russian Federation regarding Ukraine?

Voted overwhelmingly against Russia's invasion Signup and view all the answers

Which of the following is NOT one of the six principal organs of the United Nations?

International Monetary Fund Signup and view all the answers

What type of assistance did the United Nations Food and Agriculture Organization (FAO) provide following the humanitarian crisis in Myanmar?

Agricultural assistance packages Signup and view all the answers

Which council of the United Nations operates only when necessary?

Trusteeship Council Signup and view all the answers

What humanitarian effort was initiated after the February 2022 attack on Ukraine?

Initiatives to end the war Signup and view all the answers

Study Notes

Global Economic Factors

Some countries have cheaper tax rates, influencing global commerce.
Algeria (1969), Equatorial Guinea (2017), Nigeria (1971), and Congo (2018) are identified countries with significant oil reserves.
Venezuela, Saudi Arabia, and Iran collectively hold half of the world's proven oil reserves, totaling 1.55 trillion barrels.
In 2019, global oil consumption reached 99.7 million barrels per day.

Transnational Corporations (TNCs)

TNCs, like Apple and Toyota, integrate global supply chains, sourcing parts from multiple countries and assembling them in one location.
TNCs play crucial roles in the 20th Century Global Economy by controlling supply chain operations that extend beyond their home countries.
Key roles include sourcing raw materials, finding new markets, and utilizing low-cost labor, though this raises ethical concerns regarding labor practices.

COVID-19 Impact on Industry

The pandemic has profoundly affected various industries and individual economies.
Countries like Thailand leveraged agricultural exports (7.7 million tonnes of rice in 2022) to counter food insecurity and support regional economies.
India leads global rice exports, followed by Thailand, showcasing international trade's role in food supply.

Addressing Food Insecurity

Combating hunger involves a balance between self-sufficiency and food imports, particularly from neighboring countries like Vietnam and Thailand.
Strengthening agricultural production can transform a country into a food supplier for its region, enhancing economic stability.
Partnerships among government, private sector, and civil society are vital for improving agricultural productivity.

International Financial Institutions

The IMF aims for global economic stabilization and reconstructing post-war economies; it has 189 member countries.
Each member is assigned a financial quota based on economic standing, facilitating loans for growth and stability.
The IMF provided emergency financing to multiple countries during the COVID-19 crisis, including technical assistance for economic governance.

Global Governance Structures

Global governance involves regulating international relationships, often in the absence of a central authority.
The UN, established in 1945, focuses on promoting peace, security, and human rights through its six principal organs, including the General Assembly and Security Council.
The UN General Assembly called for Russia's withdrawal from Ukraine, with an overwhelming majority opposing the invasion.

Young adults are delaying marriage and parenthood for financial security and career exploration; median marriage age rose significantly from 1970 to 2017.
Economic conditions and globalization shape personal choices and societal norms.

Environmental and Ethical Movements

Figures like Marie Kondo and Greta Thunberg challenge consumerism and advocate for environmental action, respectively.
Political leaders are shifting their approaches to governance and economic management in response to societal needs and global challenges.

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Description

This quiz explores the implications of lower taxes from other countries on online shopping behavior. It also examines technological advancements and the influence of oil dependence in various countries, such as Algeria and Nigeria. Test your knowledge on the global economic landscape related to e-commerce.