Understanding Globalization Processes Quiz

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Questions and Answers

What is a key result of innovations in transportation and communication technology during the Modern Period?

Decrease in cultural exchanges

Decrease in migration

Population explosion (correct)

Limited transformation in traditional social patterns

Which dimension of globalization involves the extensive development of economic relations across the globe?

Electronic occurrence globally

Social relations in globalization

Financial markets in globalization (correct)

Historical periods of globalization

Who are considered major players in the global economic order of the current century?

Local craft markets

Huge international corporations (General Motors, Walmart, Mitsubishi) (correct)

Non-governmental organizations

Small local businesses

What is a significant impact of economic institutions on countries?

Influence on resource distribution Signup and view all the answers

During which period was there a dramatic increase in worldwide interdependencies?

Contemporary Period (1970-Present) Signup and view all the answers

What are some sources of economic growth across countries according to the text?

Institutions for macroeconomic stabilization Signup and view all the answers

What is a key characteristic of globalization according to the text?

Intermingling of local and global events Signup and view all the answers

Which historical period of globalization was characterized by the invention of writing and the wheel?

Pre-modern Period (3500 BCE-1500 CE) Signup and view all the answers

How did the European Enlightenment project contribute to globalization in the Early Modern Period?

Aimed to achieve a universal form of morality and law Signup and view all the answers

What was a significant technological boost during the Pre-modern Period of globalization?

Invention of writing Signup and view all the answers

In which period was transportation made more efficient due to the invention of the wheel and roads?

Pre-modern Period (3500 BCE-1500 CE) Signup and view all the answers

How do globalization processes extend beyond just objective, material levels according to the text?

They also involve the subjective plane of human consciousness Signup and view all the answers

Which of the following best describes the origin of economic globalization?

The increasing long-distance trade in the 16th century Signup and view all the answers

What was the relationship between world exports and World GDP during the 17th and 18th centuries, according to the text?

World exports did not reach 1 to 2 percent of World GDP Signup and view all the answers

What is a key characteristic of economic globalization according to the text?

The increasing integration of economies around the world through the movement of goods Signup and view all the answers

Which historical period of globalization is the text primarily focused on?

The 16th century Signup and view all the answers

What is the International Monetary System (IMS)?

A system that forms rules and standards for facilitating international trade among nations Signup and view all the answers

Study Notes

Periods of Globalization

Modern Period (1750-1970): innovations in transportation and communication technology, population explosion, and increased migration led to cultural exchanges and transformation in traditional social patterns.
Contemporary Period (1970-Present): creation, expansion, and acceleration of worldwide interdependencies occurred in a dramatic way, marking a significant leap in the history of globalization.

Dimensions of Globalization

Economic Dimension: refers to the extensive development of economic relations across the globe as a result of technology and the enormous flow of capital, stimulating trade in both sources and goods.

Major Players in Global Economic Order

Huge international corporations (e.g. General Motors, Walmart, Mitsubishi)
International Economic Institutions (e.g. IMF, World Bank, World Trade Organization)
Trading System

Sources of Economic Growth across Countries

Property rights
Regulatory institutions
Institutions for macroeconomic stabilization
Institutions for social influence
Institutions for conflict management

Economic Institutions

Have decisive influence on investment in physical and human capital, technology, and industrial productions
Important for resource distribution

The intensification of worldwide social relations means that local happenings are shaped by events occurring far away, and vice versa
Intermingling of local and global, with the national and regional in overlapping horizontal scale

Historical Periods of Globalization

Prehistoric Period (10000 BCE-3500 BCE): earliest phase of globalization, with geographically limited contacts among hunters and gatherers due to lack of advanced technology
Pre-modern Period (3500 BCE-1500 CE): invention of writing and the wheel boosted globalization, facilitating the spread of ideas and inventions and increasing the efficiency of transportation
Early Modern Period (1500-1750): European Enlightenment project attempted to achieve a universal form of morality and law, strengthening globalization through the emergence of European metropolitan centers and unlimited material accumulation

Origin of Economic Globalization

16th century: increasing long-distance trade, marking the origin of modern economic globalization
Silk Road: a historical example of archaic globalization, connecting western China, the Parthian empire, Rome, Asia, Africa, and Europe

International Monetary System

Refers to a system that forms rules and standards for facilitating international trade among nations
Helps in allocating capital and investment from one nation to another
Gold Standard: an international monetary system that facilitated international trade and investment

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Description

Test your knowledge on the historical periods and concepts related to globalization, such as the intermingling of local and global events, and the subjective plane of human consciousness in globalization processes.