Quiz on Structures of Globalization

What is economic globalization?

• A form of protectionism

• A strategy for local businesses

• A method of increasing tariffs

• A process of making the world economy an organic system

Which of the following is NOT an element of economic globalization?

• International Trade

• Foreign Direct Investment (FDI)

• Cultural Exchange

• Diffusion of Technology

What does FDI stand for?

• Foreign Direct Investment

• Financial Development Initiative

• Financial Direct Investment

• Foreign Domestic Investment

Which organization is NOT part of the World Bank Group?

• International Bank for Reconstruction and Development (IBRD)

• International Finance Corporation (IFC)

• International Monetary Fund (IMF)

• International Development Association (IDA)

What is the primary goal of the World Trade Organization (WTO)?

• To control global currency exchange rates

• To promote free trade among member countries

• To regulate international labor laws

• To provide loans to developing countries

What is the Silk Road known for?

• A network of trade routes connecting East and West

• A modern transportation system

• A financial institution

• A cultural exchange program

Which of the following is an example of globalization of production?

• Coca-Cola Company

• Toyota Motor Philippines Corporation

• Business Process Outsourcing in the Philippines

• Internet transactions

What does the term 'capital flows' refer to?

• Movement of capital from one country to another

• Cultural exchanges

• Migration of labor

• Trade agreements

What is the main purpose of outsourcing?

• To reduce production costs

• To increase tariffs

• To limit foreign investments

• To promote local businesses

Which of the following is a principle of the trading system under WTO?

• National treatment is not necessary

• Tariffs should be maximized

• Most-favored-nation status must be granted

• Discrimination against trading partners is allowed