INTRODUCTION TO GLOBALIZATION

Question 1

refers to the interconnected worldwide economic activities that take place between multiple countries.

Answer 1

Global Economy

Question 2

-Simply the interconnectedness of different countries.

Answer 2

GLOBALISATION

Question 3

A process by which national and regional economies, societies and cultures have become integrated through the global network of trade communication, immigration, and transportation.

Answer 3

GLOBALISATION

Question 4

It refers to the exchange of goods and services across different countries.

Answer 4

INTERNATIONAL TRADE

Question 5

The study of monetary interactions that transpire between two or more countries.
The transfer of money between countries at a faster rate.

Answer 5

INTERNATIONAL FINANCE

Question 6

Investment strategy that is not constrained by geographical boundaries.

Lies at the heart of globalization.

_____________ takes place via foreign direct investment (FDI)

Answer 6

GLOBAL INVESTMENT

Question 7

• A set of rules/actions to control a nations overall money supply and achieve economic growth.

Answer 7

Monetary policy

Question 8

An economy that transitioning from a developing to a develop economy.

Answer 8

Emerging Markets

Question 9

most common measurement for the size of an economy

-measures the value of total final output of goods and services produced by that economy in a certain period of time.

Answer 9

Gross Domestic Product (GDP)

Question 10

• a measure of the amount of money earned per person in a nation or geographic region.

Answer 10

Per Capita Income

Question 11

is dominated by large financial institutions.

Answer 11

Who controls the Global Economy?

Question 12

-The functioning of the global economy can be explained through one word-transactions

Answer 12

How does the global economy work?

Question 13

taking place between top economies in the world help in the continuance of the global economy.

Answer 13

international transactions

Question 14

1. Unrelated countries
2. Economic impact
3. Production and exchange of goods and services
4. Restrictions on the import and export of goods and services can potentially hamper the economic stability of countries who choose to impose too many.

Answer 14

EFFECTS OF GLOBAL ECONOMY

Question 15

(4) BENEFITS OF GLOBAL ECONOMY

Answer 15

1. Free trade
2. Movement of labour
3. Increased economies of scale
4. Increased Investment

Question 16

(7) FACTORS AFFECTING GLOBAL ECONOMY

Answer 16

1. Natural Resources
2. Automation
3. Population
4. Labour
5. Human Capital
6. Technology
   7.Law

Question 17

products of biological ecological, or geological processes that satisfy human wants.

Answer 17

1. Natural Resources

Question 18

reduce human intervention in processes.

Answer 18

2. Automation

Question 19

the whole number of people or inhabitants in a country or region.

Answer 19

3. Population

Question 20

work done by a group of workers or by a particular worker.

Answer 20

4. Labour

Question 21

Economic value. human experience, knowledge, skills.

Answer 21

5. Human Capital

Question 22

the application of scientific knowledge to the practical aims of human life.

Answer 22

6. Technology

Question 23

a binding custom or practice of a community.

Answer 23

7. Law