AnswersSocial Studies 7 B M12 2526 S2Unit Test

Economic Globalization Answers

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1
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How did joining NAFTA affect the Mexican economy?

A
It had little effect on the economy.
B
It caused the economy to decline.
C
It stopped all economic downturns.
D
It helped improve the economy.
2
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Trade blocs help countries by

A
limiting competition.
B
increasing barriers to trade.
C
improving product production.
D
allowing the pooling of resources.
3

A multinational organization is defined as a business that

A
participates in all trade organizations.
B
operates in multiple countries.
C
is always not for profit.
D
only hires employees through outsourcing.
4

How has the Internet improved business communication worldwide? Select three options. It allows for instant communication.It enables people to monitor economic trends.It always provides reliable information.It ensures all messages are secure from hackers.It makes it possible to buy and sell instantly.

A
It allows for instant communication.
B
It enables people to monitor economic trends.
C
It always provides reliable information.
D
It ensures all messages are secure from hackers.
E
It makes it possible to buy and sell instantly.
5

What are the purposes of international economic organizations? Select three answers.to resolve trade disputesto decrease regulation of product supply chainsto promote fair and successful tradeto solve the problems of various countriesto encourage trade in developing countries

A
to resolve trade disputes
B
to decrease regulation of product supply chains
C
to promote fair and successful trade
D
to solve the problems of various countries
E
to encourage trade in developing countries
6

In countries such as China, globalization has led to

A
a small middle class.
B
a better standard of living.
C
a large population at the poverty level.
D
a trade agreement with other nations.
7

NAFTA can be defined as

A
a means to acquire convenient resources.
B
a unification treaty that limits trade barriers.
C
an agreement between bordering nations.
D
a way for corporations to more easily outsource labor.
8

Globalization has the largest effect on

A
employment.
B
businesses.
C
economies.
D
transportation.
9

How can businesses best take advantage of globalization?

A
by increasing employment and production
B
by communicating with suppliers and buyers
C
by transporting resources from distant locations
D
by streamlining equipment to increase production
10

Globalization has led nations to join trade organizations in order to

A
be able to compete better.
B
regulate the supply of products.
C
respond better to global trends.
D
monitor the global economy.

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