International Trade Concepts
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Questions and Answers

What concept suggests that countries should only export goods they can produce more efficiently than others?

  • Protectionism
  • Foreign Direct Investment
  • Migration
  • Specialization (correct)
  • Which type of investment involves an investor establishing a lasting interest and influence in an enterprise in another economy?

  • Foreign Direct Investment (correct)
  • Diffusion of Technology
  • Capital Market Flows
  • Migration
  • What term refers to the movement of capital from one country to another due to investment flows, including stock and bond investments?

  • Protectionism
  • Diffusion of Technology
  • Migration
  • Capital Market Flows (correct)
  • In the context of globalization, what role does technology play?

    <p>Vital in expediting globalization processes</p> Signup and view all the answers

    What is the purpose of countries importing goods they cannot produce efficiently, according to the text?

    <p>To achieve Specialization benefits</p> Signup and view all the answers

    Which economic concept involves the movement of people from one country to another?

    <p>Migration</p> Signup and view all the answers

    What defines Transnational Corporations (TNCs) according to Biersteker?

    <p>Business organizations with spatially dispersed operations in at least two countries.</p> Signup and view all the answers

    What is the primary characteristic of the Westphalian System in international relations?

    <p>It established the modern international system by finishing a war between Catholic and Protestant states.</p> Signup and view all the answers

    Why do weaker states often join forces against dominant states, according to the text?

    <p>To prevent dominant states from becoming too powerful, known as the Balance Of Power.</p> Signup and view all the answers

    What is the main characteristic of the Outsourcing practice mentioned in the text?

    <p>Obtaining goods and services from foreign suppliers.</p> Signup and view all the answers

    How do Nations differentiate from States based on the text's explanation?

    <p>States are sovereign entities claiming territorial monopoly, while Nations share historical identities.</p> Signup and view all the answers

    What led to the establishment of the modern international system under the Westphalian System?

    <p>The Peace of Westphalia ending the 30 year war between Catholic and Protestant states.</p> Signup and view all the answers

    What regions are typically included when referring to the Global South?

    <p>Latin America, Africa, Oceania, Asia</p> Signup and view all the answers

    What term was commonly used during the Cold War era to refer to countries that were non-aligned or rejected colonialism?

    <p>Third World</p> Signup and view all the answers

    What classification system does the World Bank use based on Gross National Income (GNI) per capita?

    <p>Income Level Classification</p> Signup and view all the answers

    In modern times, what terms have replaced 'Third World' in describing certain countries?

    <p>Developing countries, least developed countries, Global North</p> Signup and view all the answers

    What do low income countries (LICs) refer to in the World Bank Classification System based on GNI per capita?

    <p>Countries with the lowest GNI per capita</p> Signup and view all the answers

    Which regions are considered part of the Global South according to the text?

    <p>Latin America, Africa, Asia</p> Signup and view all the answers

    Which institution provides economic grants and overseas development assistance programs?

    <p>Japan International Cooperation Agency (JICA)</p> Signup and view all the answers

    Which Asian country is specialized in the production of electronics and copper?

    <p>South Korea</p> Signup and view all the answers

    Which Asian country is known for its production of palm oil, rubber, and natural gas?

    <p>Indonesia</p> Signup and view all the answers

    Which Asian initiative is characterized by a rules-based approach similar to the European Union?

    <p>Asian Bond Market</p> Signup and view all the answers

    In response to globalization, which countries engaged in a dialogue to formulate visions and share goals for regional cooperation?

    <p>China, India, Japan</p> Signup and view all the answers

    Which country created its own currency 'bia' that was regulated by a central bank in a village?

    <p>Thailand</p> Signup and view all the answers

    What is the primary objective of the Economic and Social Council (ECOSOC)?

    <p>To advance sustainable development dimensions</p> Signup and view all the answers

    Which UN body is known as 'the World Court'?

    <p>International Court of Justice (ICJ)</p> Signup and view all the answers

    What does UNICEF primarily work towards?

    <p>Ensuring children's human rights worldwide</p> Signup and view all the answers

    What is the role of the Secretariat within the UN?

    <p>Implementing policies and decisions of the UN organs</p> Signup and view all the answers

    Which UN agency focuses on strengthening healthcare systems globally?

    <p>WHO</p> Signup and view all the answers

    What is the aim of the Human Development Index (HDI)?

    <p>Ranking countries based on real income, health, and education</p> Signup and view all the answers

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