IBI 101 Chapter 1,2,3,4

What does the term "globalization" refer to?

• • The merging of national markets
    

• • The interdependence of national economies

• • The shift toward an integrated global economy

• • All of the above

Which organization is responsible for policing the world trading system?

• IMF
  

• WTO

• World Bank

• UN

What are the drivers of globalization?

• Decline trade barriers
  

• Technological advancements

• Decreasing internet usage

• Centralized production systems

Which of the following is NOT a concern of globalization critics?

• Cultural imperialism
  

• Job loss in advanced countries

• Economic growth

• Environmental degradation

How have developing countries' roles in global trade changed since 1960?

• Decreased significantly

• Remained the same

• Increased to dominate global trade

• Increased but still below developed nations

A political economy includes which of the following?

• Political systems
  

• Economic systems

• Legal systems

• All of the above

• What is individualism associated with?
  

• • Collectivist goals

• • State ownership

• • Free market economies

• • Command economies

Which type of totalitarianism is based on religious principles?

• Communist

• Tribal

• Theocratic

• Right-wing

Which economic system promotes efficiency but may allow inequality?

• Command

• Mixed

• Market-based

• None of the above

Which legal system is based on tradition and precedent?

• Civil law

• Common law

• Theocratic law

• Religious law