Types of Economic Sectors and International Trade Organizations

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Questions and Answers

What is the main focus of cultural hybridization?

  • Promoting traditional cultural practices
  • Integration of local and global cultures (correct)
  • Promotion of isolationism
  • Emphasizing cultural homogeneity

Which concept stresses on the homogeneity introduced by globalization?

  • Cultural assimilation
  • Cultural hybridization
  • Cultural diversification
  • Cultural convergence (correct)

In World Systems Theory, which countries are considered core countries?

  • Australia, Canada, United Kingdom
  • Brazil, Mexico, South Africa
  • India, China, South Korea
  • United States, Japan, Germany (correct)

Which group of countries are classified as semi-periphery according to the text?

<p>China, India, Brazil (C)</p> Signup and view all the answers

What do core countries control and benefit from according to the text?

<p>Global market (B)</p> Signup and view all the answers

Which organization is primarily responsible for regulating international trade today?

<p>World Trade Organization (WTO) (D)</p> Signup and view all the answers

Which international organization primarily focuses on tariff reduction to any international trading system?

<p>General Agreement on Tariffs and Trade (GATT) (B)</p> Signup and view all the answers

Which organization is dedicated to reducing and ultimately eliminating barriers to free and open trade?

<p>World Trade Organization (WTO) (C)</p> Signup and view all the answers

Which international organization deals with exchange rates, balances of payments, and international capital flows?

<p>International Monetary Fund (IMF) (B)</p> Signup and view all the answers

Which organization provides funds to government-sponsored programs in middle-income or creditworthy poorer nations?

<p>World Bank (B)</p> Signup and view all the answers

Which organization is known for enhancing European political and economic integration through various policies?

<p>European Union (EU) (B)</p> Signup and view all the answers

According to Larsson (2001), what does globalization pertain to?

<p>Increasing ease of interaction across the world for mutual benefit (A)</p> Signup and view all the answers

Which author defines globalization as a transplanetary process involving growing multidirectional flows?

<p>Ritzer (C)</p> Signup and view all the answers

According to Ohmae (1992), what does globalization mean?

<p>Onset of a borderless world (A)</p> Signup and view all the answers

How do Albrow and King (1990) define globalization?

<p>Incorporating people into a single world society (C)</p> Signup and view all the answers

Which aspect of globalization includes the new international division of labor according to Cox?

<p>Internationalizing of production (C)</p> Signup and view all the answers

What does Robertson (1992) focus on when defining globalization?

<p>Understanding of the world and increased perception (D)</p> Signup and view all the answers

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