CONTEMP WORLD | QUIZ1

it is a social and cultural process in which individuals of different cultural backgrounds interact with each other in all spheres of life more intensively than before.

connections between individuals

networks that connect a more specific group such as social workers or leaders around the globe

the integration of globalization is increasingly exposing people to different ways of thinking, cultural values, and new forms of family life.

• TRUE

• FALSE

it is the system by which a country or region produces, distributes, and consumes goods and services

• Economy

• Export/Import

• Exchange

• Barter System

It is the system of industry and trade around the world that has developed as the result of globalization

• Global Economy

• Economy

• Extraction

• Production

refers to the increasing interdependence of world economies as result of the growing scale of cross-border trade of commodities and services, flow of international capital, and wide and rapid spread of technologies.

• Economy

• Economic Globalization

• Global Economy

Types of economies under economic globalization

• Protectionism

• Trade Liberalization

• Product Extraction

A policy of systematic government intervention in foreign trade aimed at promoting domestic production. This approach involves giving preferential treatment to domestic producers

This process involves reducing or eliminating tariffs, quotas, and trade restrictions between countries, with the goal of promoting free trade and the exchange of goods and services across international borders.