What is the pattern of the world and its economy becoming more interconnected.
100
What is absolute advantage?
What is being able to produce for fewer resources:
time, money, energy, labor etc...
100
How are interdependence and globalization connected?
What is through globalization the world is becoming more dependent upon one another.
100
What banks have a great deal of power over the world economy? List at least two.
What is BIS, Fed, Bank of England, European Central Bank
100
How globalization is leading to greater environmental damage.
What is greater use of resources in transportation. Also, as people get wealthier they consume more.
200
Define offshoring
What is relocating part of a business to a place where production is cheaper.
200
Define comparative advantage
What is producing for a lesser opportunity cost.
200
How has the US benefited from globalization?
What is greater variety of goods and services are available to us for a lesser cost.
200
What is the goal of the IMF?
What is to provide assistance to countries during a financial crisis.
200
How has globalization hurt the United States?
What is damaged reputation in some countries, loss of jobs in manufacturing.
300
What is sustainable development?
What is the developing practices where natural resources are not polluted or totally used up so future generations are not harmed by our actions.
300
How does the idea of comparative advantage lead to increased trade?
What is all countries will specialize in what they are best at, this leads to more overall production.
300
Why does interdependence lead to economic growth?
What is when everyone specializes more goods and services are provided.
300
What type of problem may the WTO try to address between two countries?
What is trade disputes.
300
What is a US Industry impacted by outsourcing?
What is many...
400
What is infrastructure?
What is the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise.
400
Correct this argument:
Since our country is the highest tech in the world, we have no reason to trade with any other country.
If you are the highest tech shouldn't you still focus on what you are best at and allow others to produce low tech things?
400
What is a country that has had a difficult time with globalization?
What is Bangladesh...others too:
Afghanistan
Bolivia
Nepal
Other ideas?
400
What is the purpose of World Bank
What is to fund development projects in the developing world.
400
How terrorism is linked to globalization.
What is many countries have not prospered like others have. This has led some people to revolt with terrorism.
500
Define embargo
What is denying another country to trade with yours.
500
Make a guess: What is something these countries may have a comparative advantage in?
What is:
Saudi Arabia
China
Germany
500
Reasons why some people are against globalization.
What is loss of culture, loss of jobs, increased environmental damage, abuse of human rights in poor countries.
500
These nations give the highest percentage of their GDP to others as foreign aid.
What are Scandinavian countries, especially Norway.
500
How has globalization led to a income gap between developed and undeveloped countries?
What is many things that developing countries specialize in are not as profitable. Also, lack of infrastructure and education systems make it difficult to compete.