BTEC Business - Globalisation?

What is globalisation?

• A process of interaction and integration among people, companies, and governments worldwide.

• A local event affecting only a small community.

• A type of government system.

• A new language developed in the 21st century.

Globalisation has affected the production of goods and services by:

• increasing competition and efficiency

• decreasing the quality of products

• limiting access to international markets

• reducing innovation

Which of the following is a key feature that underpins globalisation?

• National firms

• Trading blocs

• Local markets

• Regional isolation

What is one feature of globalization?

• Increased cultural exchange

• Decreased international trade

• Isolation of economies

• Reduction in communication

Which of the following is an example of a trading bloc?

• World Trade Organization (WTO)

• United Nations (UN)

• North Atlantic Treaty Organization (NATO)

• International Monetary Fund (IMF)

Fill in the blank: The United States-Mexico-Canada Agreement (USMCA) was previously known as _______.

• NAFTA

• CAFTA

• TTIP

• TPP

What is the purpose of countries forming a trading bloc?

• To increase political influence

• To enhance economic cooperation

• To improve military alliances

• To promote cultural exchange

Which trading bloc allows free movement of people and trade within its member countries?

• European Union (EU)

• Mercosur

• Asia-Pacific Economic Cooperation (APEC)

• United States-Mexico-Canada Agreement (USMCA)

Fill in the blank: There are hundreds of _______ worldwide. Globalisation means that there are systems in place to make international payments as simple as possible.

• currencies

• languages

• cultures

• countries

Nike operates in how many countries?

• 50 countries

• 100 countries

• 190 countries