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Types of Economic Sectors and International Trade Organizations

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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?

China, India, Brazil (C) Signup and view all the answers

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

Global market (B) Signup and view all the answers

Which organization is primarily responsible for regulating international trade today?

World Trade Organization (WTO) (D) Signup and view all the answers

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

General Agreement on Tariffs and Trade (GATT) (B) Signup and view all the answers

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

World Trade Organization (WTO) (C) Signup and view all the answers

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

International Monetary Fund (IMF) (B) Signup and view all the answers

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

World Bank (B) Signup and view all the answers

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

European Union (EU) (B) Signup and view all the answers

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

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

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

Ritzer (C) Signup and view all the answers

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

Onset of a borderless world (A) Signup and view all the answers

How do Albrow and King (1990) define globalization?

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

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

Internationalizing of production (C) Signup and view all the answers

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

Understanding of the world and increased perception (D) Signup and view all the answers