Globalisation Quiz

What is globalisation?

• The process of making a country's economy more independent

• The increasing interconnectivity and interdependence of world economies, cultures, and populations

• The isolation of a country's economy from the rest of the world

• The decline in international trade and communication

Which of the following is a characteristic of economic globalisation?

• The reduction of trade barriers and tariffs

• The increase of local markets

• The decrease in technological advancements

• The promotion of national self-sufficiency

What is meant by 'trade liberalisation'?

• Imposing heavy tariffs on imported goods

• Allowing free trade between countries with minimal restrictions

• Nationalising industries to protect local jobs

• Prohibiting foreign investments in domestic markets

Which organisation is known for promoting global trade?

• The World Trade Organization (WTO)

• The International Monetary Fund (IMF)

• The United Nations (UN)

• The European Union (EU)

What does 'offshoring' refer to in a business context?

• Hiring local employees

• Relocating a business process to another country

• Expanding business operations within the home country

• Reducing domestic workforce

Which of these are a potential disadvantage of globalisation?

• Increased market competition

• Cultural homogenisation

• Access to a wider range of goods and services

• Technological advancement

Which of the following best describes 'multinational corporation'?

• A company that operates in only one country

• A company that has operations, offices, or factories in several countries

• A small local business

• A government-owned enterprise

What is 'FDI'?

• Foreign Domestic Investment

• Foreign Direct Investment

• Federal Direct Investment

• Foreign Development Initiative

Which term refers to the movement of jobs from developed countries to developing countries to reduce costs?

• Globalisation

• Outsourcing

• Importing

• Exporting

Which factor is a driving force behind globalisation?

• Decrease in communication technology

• Increase in transportation costs

• Advances in information and communication technology

• Strengthening of national borders