Question 1

What is globalization?

Accepted Answer

The process of increased interconnectedness among countries

Answer

A system of international barriers

Answer

The act of isolating nations from each other

Answer

A movement to promote local economies

Question 2

Which of the following is a positive effect of globalization?

Accepted Answer

Increased access to goods and services

Answer

Environmental degradation

Answer

Job displacement in certain industries

Answer

Loss of cultural identity

Question 3

What is a common criticism of globalization?

Accepted Answer

It can lead to economic inequality

Answer

It boosts technological advancement

Answer

It improves international relations

Answer

It promotes cultural exchange

Question 4

Which organization is primarily responsible for regulating international trade?

Accepted Answer

World Trade Organization (WTO)

Answer

United Nations (UN)

Answer

World Health Organization (WHO)

Answer

International Monetary Fund (IMF)

Question 5

What is a potential downside of globalization for local businesses?

Accepted Answer

Increased competition from foreign companies

Answer

Improvement in product variety

Answer

Access to larger markets

Answer

Opportunities for collaboration

Question 6

Which of the following best describes cultural globalization?

Accepted Answer

The worldwide exchange and integration of cultures

Answer

The isolation of cultures from one another

Answer

The preservation of local traditions

Answer

The promotion of a single global culture

Question 7

What is one effect of globalization on the labor market?

Accepted Answer

Job outsourcing to countries with cheaper labor

Answer

Increased job security for workers

Answer

Higher wages for all jobs

Answer

Reduction in workplace diversity

Question 8

What role does technology play in globalization?

Accepted Answer

It facilitates faster communication and transportation

Answer

It creates barriers to international trade

Answer

It isolates countries from each other

Answer

It decreases access to information

Question 9

What is an example of a multinational corporation (MNC)?

Accepted Answer

Coca-Cola

Answer

A local bakery

Answer

A regional grocery store

Answer

A small family-owned restaurant

Question 10

Which of the following is a factor that drives globalization?

Accepted Answer

Advancements in technology

Answer

Isolationist policies

Answer

Declining international trade

Answer

Increased government regulations

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