Drivers and Issues of Globalization

The video explores globalization, its definition, history, and impact on modern life. It discusses the globalization of markets and production, highlighting the benefits and challenges. Key drivers include technology, market saturation, cost efficiency, and political decisions. The video concludes with a summary and a promise to discuss the pros and cons of globalization on the US economy in a future video.

What is one of the major global issues linked to globalization?

• Space exploration

• Climate change

• Local farming

• Urban development

According to the World Health Organization, what does globalization primarily involve?

• Focus on local markets

• Reduction in international trade

• Increased interconnectedness and interdependence

• Isolation of countries

Which technological advancement was NOT part of the first wave of globalization?

• Steamships

• Telegraph

• Internet

• Railroads

What is the globalization of markets?

• The merging of national markets into a global marketplace

• The decline of international trade

• The separation of national markets

• The focus on local consumer preferences

Which company is an example of globalization of production?

• Boeing

• Tesla

• Ford

• Apple

Which of the following is a technological driver of globalization?

• Development of containerization

• Cultural differences

• Increased tariffs

• Political instability

What is a market driver for globalization?

• Increased local production

• Decreased international competition

• Saturated domestic markets

• High local demand

How do cost drivers influence globalization?

• By increasing local production costs

• By reducing the need for international trade

• By focusing on domestic markets

• By allowing firms to take advantage of varying costs across countries

What role do political drivers play in globalization?

• They only affect local markets

• They have no impact

• They determine the ease of cross-border activities

• They focus solely on cultural exchange

What will be discussed in the future video about globalization?

• The cultural impact of globalization

• The history of globalization

• The pros and cons of globalization on the US economy

• The technological advancements in globalization