1
to provide support and prolong or preserve something
What is Sustainability
What is a Tariff?
It’s a tax or duty on imported goods
Explain the term ‘Globalization’.
Is the emergence of a single world market.
Quotas is the total ban on a particular good or a ban on goods coming from a certain country.
True or False
False
An embargo, legal prohibition by a government or group of governments restricting the departure of vessels or movement of goods from some or all locations to one or more countries
True
False
True
Strategies to provides longevity of resources needed for future generations is called
Environmental Sustainability
Caribbean governments have historically played a crucial role in shaping the economic landscape of the region.
True
False
True
Embargoes, Quotas and Exchange control
These are some example of?
Barriers of trade
Barries to trade are
a. Measures designed to keep foreign goods out of domestic markets
b. To charge more for the goods
c. Keep the foreign goods in the domestic markets
d. None of the above
a. Measures designed to keep foreign goods out of domestic markets
Which of the following is a driver of globalization?
a.) protectionism
b.)improvements in technology
c.)economic growth
d.)high interest rates
B.) improvements in technology
Which one is an effect of trade liberalization and globalization on firms in the Caribbean?
A. Workers lose jobs
B. Increasing imports may result in a trade deficit
C. There is the westernisation of the world
D. There is the rise of multinational corporations.
D. There is the rise of multinational corporations.
Which organization plays a key role in facilitating global trade negotiations and agreements?
World Trade Organization (WTO)
All of these are effects of trade liberalization and globalization on consumers except?
A. There is an increased standard of living
B. There is the rise of multinational corporations.
C. The developed countries are exporting artificial wants
D. There is an increase in international travel and tourism
B. There is the rise of multinational corporations.
Define trade liberalisation?
is the reduction, or even total removal of barriers to trade.
In today's world, local firms are being faced more and more with competition from foreign firms. This is an effect of:
a.) protectionism
b.)export subsidies
c.) trade liberalization
d.) preferential tariff
c.) trade liberalization
Benefits of preferential tariffs
-The exporting country benefits from the lower tariff
-Foster stronger trading ties between countries
- give developed countries an opportunity to assist poorer countries
These organizations aim to promote economic integration and cooperation among member states, facilitating trade by reducing tariffs and encouraging investment.
Caribbean Community (CARICOM) and the Organization of Eastern Caribbean States (OECS).
CSME
Which of the following is driver of globalization?
a. Improvements in technology
b. Preferential tariffs
c. Protectionism
d. Economic growth
a. Improvements in technology
What is a embargoes?
Is the total Ban on a particular good
Give a social and economic benefit of large-scale production?
-There is open competition throughout the world
-Producing a larger output will enable small island economies to reap economies
of scale.
-There will be a reduction in unemployment.
-Caribbean people will feel a sense of worth as world citizens.
What is a potential downside of globalization for some local industries?
a.) Increased market access
b.) Greater competition
c.) Enhanced innovation
d.) Improved productivity
B.) Greater competition
Barries of trade are either
a. Tariff
b. Non- tariff
c. Both tariff and non -tariff
c. Both tariff and non -tariff
Seeking to resolve trade dispute is an essential function of which organization?
What is WTO
Which is not an effect of trade liberalization and globalization on consumers in the Caribbean?
a. An increased standard of living
b. Works lose jobs
c. Increase in international travel and tourism
d. Export subsidies
d. Export subsidies
What is brain drain?
When skilled workers migrate to more developed countries in search of better opportunities.