Multiple Choice Flashcard on Globalization and Decision Making

Front

Globalization

Back

The integration and interdependence of national economies through trade and technology

Front

Which of the following is NOT a driver of globalization? Technology, Growth of multinationals, Increased tariffs, Improved relationships among governments

Back

Increased tariffs

Front

What is one benefit of globalization for consumers?

Back

Greater variety of goods and services

Front

How can globalization impact Caribbean businesses?

Back

It increases competition with larger countries

Front

Trade liberalization

Back

Removing barriers to trade between countries

Front

Which of the following is an example of a tariff barrier?
Options: Quotas on imported goods, Taxes on imported goods, Embargoes on specific countries, Exchange rate controls

Back

Taxes on imported goods

Front

What characterizes a multinational corporation (MNC)?

Back

It has a central office that coordinates activities in various countries.

Front

Which of the following is NOT a common activity of multinational corporations?

• Importing and exporting goods and services
• Making significant investments in foreign countries
• Solely focusing on local markets
• Opening manufacturing facilities in foreign countries

Back

Solely focusing on local markets

Front

What is a potential disadvantage of multinational corporations to host countries? Options: Increased job opportunities for locals, Outflow of profits to the parent company, Transfer of technology and skills, Improvement in local infrastructure

Back

Outflow of profits to the parent company

Front

What is the main responsibility consumers have regarding multinational corporations?

Back

To ensure their rights are not infringed upon by MNCs