How did the economy get to how it stands?
What impact did machines have during the Industrial Revolution on the production of goods?
Machines made it quicker and easier to produce goods.
Which country has the largest economy and financial hub?
The United States.
How are consumers benefiting from globalization?
People are benefiting from cheaper goods.
How do online shops like Temu, Alibaba, Amazon, and eBay help businesses?
They allow businesses to sell globally.
What environmental changes are expected to help reduce carbon emissions?
Carbon emissions will be reduced through the use of renewable energy and sustainable production.
How did the Industrial Revolution contribute to the increase in trade and market connections?
It led to faster and more efficient production, which caused an increase in trade and helped connect markets.
Which country is known as the world's largest manufacturer?
China.
How does globalization help businesses?
Businesses can sell globally, raising profit.
How are digital banks, wallets, and cryptocurrencies changing the way we use money?
They are changing how we use our money by introducing new, digital forms of banking and payment systems.
How are machines impacting jobs?
Machines are replacing some jobs while also creating new opportunities in the tech industry.
What technological advancements in the 1990s and 2000s helped boost globalization?
The internet and container shipping.
What is the European Union known for in terms of global economics?
It is a collective economic power with massive influence on trade.
How does globalization support the growth of new or developing countries?
New growing countries grow faster by exporting goods and attracting investment.
How has the internet impacted jobs in fields like design, customer service, and tech?
The internet allows people in these fields to do their jobs across borders, enabling remote work.
Which countries are growing rapidly?
Countries like Nigeria, Vietnam, and Indonesia are growing fast.
Why did manufacturers begin producing goods in countries like China during the era of globalization?
Because it was cheaper to produce goods in countries like China.
Which country is a major player in technical business?
India
Why are some people losing jobs due to globalization?
Many people are losing jobs because companies buy their products from countries like China where production is cheaper.
How are AI, product development, and advertising related to data?
AI, product development, and advertising are all driven by data.
What are some countries doing to reduce reliance on foreign production?
Countries are trying to cut production out of their territories and start producing goods domestically, like what Trump is doing by placing tariffs on China.
How did container shipping contribute to the ease of global business in the late 20th and early 21st centuries?
It made shipping goods around the world more efficient and cost-effective.
What organization sets global trade rules?
The World Trade Organization.
How does globalization contribute to environmental problems?
Transport and global production contribute to global warming and pollution.