Economic Globalization — Quiz

Question 1

Trade blocs help countries by

Revolt · Accepted Answer

allowing the pooling of resources.

Question 2

Which group is an example of a commodity organization?

Revolt · Accepted Answer

Organization of Petroleum Exporting Countries

Question 3

NAFTA can be defined as

Revolt · Accepted Answer

a unification treaty that limits trade barriers.

Question 4

How has the Internet improved business communication worldwide? Choose three correct answers.

Revolt · Accepted Answer

It allows for instant communication.; It enables people to monitor economic trends.; It makes it possible to buy and sell instantly.

Question 5

How can businesses best take advantage of globalization?

Revolt · Accepted Answer

by communicating with suppliers and buyers

Question 6

What is the primary purpose of the European Union?

Revolt · Accepted Answer

to allow more trade between countries

Question 7

Which causes the most problems in countries with low economic growth?

Revolt · Accepted Answer

rapid population increase

Question 8

Globalization has affected developed countries by

Revolt · Accepted Answer

turning their focus to providing services.

Question 9

As economies grow, they demand more

Revolt · Accepted Answer

raw materials.

Question 10

In countries such as China, globalization has led to

Revolt · Accepted Answer

a better standard of living.

Economic Globalization — Quiz Answers