14 Globalization

What does economic globalization refer to?

• Increase in tariffs

• Reduction of trade

• Isolation of national economies

• Integration of national economies

What is the impact of trade agreements?

• They only affect local economies

• They affect global economies

• They increase tariffs

• They eliminate all trade

What do international trade agreements aim to do?

• Reduce investment

• Increase trade barriers

• Facilitate trade between countries

• Limit capital flows

How do trade agreements affect developing economies?

• They can support or hinder them

• They only help developed economies

• They have no effect

• They increase poverty

What is one impact of new technologies on economies?

• Economic inequality

• Equal wealth distribution

• Reduction in jobs

• Increase in tariffs

What is an effective strategy for trade?

• Ensure fair trade practices

• Increase trade barriers

• Limit international cooperation

• Reduce investment

What should be addressed to improve trade agreements?

• Needs of developing economies

• Only needs of developed economies

• Reduction of trade

• Increase in tariffs

What is a recommended approach for improving trade agreements?

• Conduct detailed assessments

• Limit cooperation

• Ignore trade impacts

• Increase trade barriers

What do trade agreements reduce?

• Tariffs and trade barriers

• Economic growth

• Job opportunities

• Investment opportunities

What is a goal of enhancing international cooperation?

• To limit investments

• To improve trade

• To isolate economies

• To increase tariffs