Question 1

Which of the following is a potential challenge for businesses due to globalization?

Accepted Answer

Increased competition from foreign companies

Answer

Access to a larger workforce

Answer

Expansion into new geographical regions

Answer

Lower production costs

Question 2

What is one of the primary benefits of globalization for businesses?

Accepted Answer

Access to new markets

Answer

Reduced consumer choices

Answer

Increased local competition

Answer

Higher taxes

Question 3

What does outsourcing mean in the context of globalization?

Accepted Answer

Contracting out business processes to other countries

Answer

Producing all goods in one country

Answer

Increasing the number of employees locally

Answer

Maintaining all business functions in-house

Question 4

How does globalization impact consumer choices?

Accepted Answer

It increases the variety of products available

Answer

It limits access to foreign products

Answer

It reduces the quality of products

Answer

It standardizes prices worldwide

Question 5

What is a major environmental concern associated with globalization?

Accepted Answer

Increased pollution from global trade

Answer

Less transportation of goods

Answer

Reduced energy consumption

Answer

Improved recycling practices worldwide

Question 6

What does the term 'trade barrier' refer to in the context of globalization?

Accepted Answer

Restrictions that countries impose to control international trade

Answer

Policies that promote free trade

Answer

Efforts to reduce international shipping costs

Answer

Agreements between countries to share resources

Question 7

How can globalization impact cultural diversity?

Accepted Answer

It can lead to the spread of global cultures and practices

Answer

It isolates cultures from one another

Answer

It eliminates all local traditions

Answer

It only affects language use

Question 8

What role do multinational corporations (MNCs) play in globalization?

Accepted Answer

They facilitate international trade and investment

Answer

They only operate within their home country

Answer

They create barriers to trade

Answer

They limit consumer access to foreign goods

Question 9

What is a common effect of globalization on local economies?

Accepted Answer

Changes in job availability

Answer

Decreased internet access

Answer

Less communication between countries

Answer

Increased isolation from other markets

Question 10

Which of the following is a way globalization can improve innovation in businesses?

Accepted Answer

Sharing knowledge and technology across borders

Answer

Restricting access to information

Answer

Standardizing products only

Answer

Limiting collaboration with foreign companies

Question 11

What is a benefit of globalization related to competition?

Accepted Answer

Increased competition leads to better quality products

Answer

Reduced choices for consumers

Answer

Higher prices without improvement

Answer

Monopolies in every market

Question 12

How can globalization lead to better customer service for businesses?

Accepted Answer

By allowing companies to operate 24/7 with support teams in different time zones

Answer

By shutting down customer service options

Answer

By reducing the number of languages offered

Answer

By limiting support to business hours

Question 13

What role does globalization play in reducing production costs for businesses?

Accepted Answer

Enables access to cheaper raw materials and labor

Answer

Restricts sourcing to local suppliers

Answer

Increases shipping costs

Answer

Encourages longer production times

Question 14

How does globalization facilitate access to technology for businesses?

Accepted Answer

By promoting the exchange of innovations across borders

Answer

By limiting the availability of online resources

Answer

By making technology more expensive

Answer

By restricting technological advancements

Question 15

What is one significant advantage of globalization in supply chains?

Accepted Answer

Greater efficiency and cost savings

Answer

More complex regulations

Answer

Longer delivery times

Answer

Increased tariffs

Question 16

How does globalization impact the availability of skilled labor for businesses?

Accepted Answer

By allowing companies to hire talent from around the world

Answer

By restricting employment to local workers only

Answer

By promoting age discrimination in the workforce

Answer

By increasing unemployment in developing countries

Question 17

What is one way globalization can enhance a company's competitiveness?

Accepted Answer

By encouraging innovation through exposure to global trends

Answer

By standardizing business practices globally

Answer

By reducing the need for marketing

Answer

By isolating businesses from international ideas

Question 18

What is a positive effect of globalization on product diversity?

Accepted Answer

An increase in the variety of products available to consumers

Answer

A decrease in product quality

Answer

Standardization of all products

Answer

Limitation of product choices

Question 19

How does globalization help businesses reduce costs?

Accepted Answer

By outsourcing production to countries with lower labor costs

Answer

By limiting access to technology

Answer

By increasing local taxes

Answer

By reducing the number of suppliers

Question 20

What is one benefit of globalization for businesses?

Accepted Answer

Access to larger markets

Answer

Increased barriers to trade

Answer

Higher operating costs

Answer

Limited competition

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