Globalisation and trade

Which two of the following are characteristics of globalisation

• Increase in protectionism

• Increase in trade blocs

• Increase in FDI

• Decrease in specialisation

Which one of the following is NOT a cause of globalisation

• Reduced transport costs

• Fall of communism

• Increase in trade blocs

• structural unemployment

TNC stands for.......

• Transnational cooperative

• Transnational company

• Transnational corporation

• Transnational communication

Which two of the following are costs of globalisation?

• inequality

• negative externalities

• inflation

• trade

In a free trade diagram which of the following ec agents are negatively impacted?

• Domestic producers

• Government

• Foreign exporters

• Consumers

Absolute advantage is when one country....

• Specialises in a good where they have a lower opp cost

• Produces more than another country using the same amount of resources

• Specialises in a good where they have a higher opportunity cost

• Produces more than another country using different amount of resources

Two limitations of comparative advantage theory are.....

• Assumes occupational mobility of labour

• Assumes transport costs are zero

• Assumes diseconomies of scale

• Assumes negative externalities occur

TPP stands for

• Transpacific partnership

• Transpacific population

• Transfer principle pricing

• Transpacific ports

The terms of trade refers to.....

• The price of a countries exports v imports

• The quantity of a countries exports v imports

• The cost of a countries exports v imports

• None of the others

How many countries are there in the EU?

• 25

• 26

• 27

• 28