CHAPTER 32 SECTION 1

What is globalization?

• A local event

• A worldwide society where people, money, and goods flow freely

• A type of government

• A new language

Which region has been most impacted by globalization?

• South America

• Asia

• Europe

• Africa

What is a multinational corporation?

• A type of government

• A large company operating in more than one country

• A small local business

• A new type of shoe

What is free trade?

• Trade with many government controls

• Trade with little or no government control

• Trade only within a country

• Trade that is free of charge

What is a tariff?

• A type of shoe

• A type of transportation

• A tax on goods imported from another country

• A free trade agreement

What organization was created to reduce trade barriers?

• International Monetary Fund

• World Trade Organization

• World Health Organization

• United Nations

What is economic interdependence?

• Countries relying on each other for resources and trade

• Countries that are completely independent

• A type of shoe

• A new form of government

Which country is mentioned as having factories that produce goods for the U.S.?

• Brazil

• India

• Germany

• China

What happened to the production of Converse shoes in 2001?

• They stopped being made

• They became free

• They started being made in the U.S.

• They started being made in Asia

Why did companies move sneaker production to Asia?

• To spend less on labor and materials

• To make shoes more expensive

• To reduce quality

• To increase production costs