The word EXPORT is best defined as?

To sell a good to another country

All of the following are reasons why globalization is bad EXCEPT?

It allows us to share ideas, music, technology, art, etc.

The pencils we use in school are an example of globalization because...

The materials used to make a pencil come from many places

In a globalized economy many companies will move factories or businesses to-

Countries with low labor costs to save money

What does Globalization mean?

The development of a global, or worldwide, society

A major economic factor of globalization is-

low cost shipping and buying goods and natural resources

The clothes in our closet are an example of globalization because...

Our pants, hats, shoes, etc, are all made in various places

Trade is BEST defined as?

The buying and selling of products between nations

Define the word SPECIALIZE (in relation to trade).

To produce certain goods and services

The word IMPORT means?

To buy a good from another country

An effect of the expansion of businesses expanding into multiple nations is-

Economic development across the globe

Combining businesses, technology, and transportation globalization has-

Made more goods and services available all over the world

A simple t-shirt is an example of globalization because...

The creation and selling of a t-shirt happens in many places

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Globalization and Trade

23 termsStudBud Administration25 plays

Globalization and trade - what is trade, importing and exporting, Minnesota trading partners, and what countries specialize in.

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Questions 23

Answers

1
What does the United States specialize in?
Cotton
Corn
Coffee
Cocoa
2
When companies use overseas companies to lower the cost of a product or service it is-
Wage laboring
Shopdropping
Communism
Outsourcing
3
The word EXPORT is best defined as?
To sell a good to another country
To borrow a good from another country
To buy a good from another country
To trade a from with another country
4
All of the following are reasons why globalization is bad EXCEPT?
Many Americans have lost their jobs
Traditional arts and languages may be lost
It allows us to share ideas, music, technology, art, etc.
It can make countries less self-sufficient
5
The pencils we use in school are an example of globalization because...
The pencil costs very little to make therefore it is cheap
The materials used to make a pencil come from many places
The pencil is something we use everyday
The pencil is made of wood and metal
6
What does China specialize in?
Corn
Cocoa
Cotton
Crude Oil
7
In a globalized economy many companies will move factories or businesses to-
Industrial capitals of their home nation
Provide better climate for employees
Countries with low labor costs to save money
Highly skilled labor countries
8
Who is the United States #1 trading partner?
Australia
Mexico
Japan
Canada
9
What does Saudi Arabia specialize in?
Cotton
Coffee
Crude Oil
Cocoa
10
What does Globalization mean?
Total domination of the world
The development of a global, or worldwide, society
Moving across the world
Loyalty to one's own country
11
A major economic factor of globalization is-
A decrease in human trafficing
A decrease in global terrorism
low cost shipping and buying goods and natural resources
A decrease in poverty across the globe
12
What does Brazil specialize in?
Coffee
Corn
Crude Oil
Cocoa
13
The clothes in our closet are an example of globalization because...
Our pants, hats, shoes, etc, are all made in various places
Different brands cost more or less money
Our parents bought them for us
Workers in sweatshops may have created what we wear
14
Trade is BEST defined as?
The products nations buy from other nations
Taxes on imported goods
The products nations sell to others
The buying and selling of products between nations
15
What does Cote d'Ivoire special in?
Crude Oil
Cotton
Corn
Cocoa
16
There are more people here than anywhere else in the world. They grow rice, tea and cotton.
India
United States
China
Indonesia
17
Define the word SPECIALIZE (in relation to trade).
To produce certain goods and services
To undo what you have already done
To complete a task on time
To be important or special
18
The word IMPORT means?
To borrow a good to another country
To sell a good to another country
To trade a good with another country
To buy a good from another country
19
An effect of the expansion of businesses expanding into multiple nations is-
A decrease in large corporations
Economic development across the globe
A decrease in global trade
Stricter international business laws
20
Combining businesses, technology, and transportation globalization has-
An increase in global unity
Decreased global poverty rates
An increase in international diplomacy
Made more goods and services available all over the world
21
Which of the following is a reason globalization is bad?
It closes factories at home
It brings economic growth to countries
It creates new jobs
It brings people closer together
22
A simple t-shirt is an example of globalization because...
T-shirts are recycled and or donated to the poor
The creation and selling of a t-shirt happens in many places
T-shirts have created thousands of jobs
We can wear a t-shirt all year round
23
The largest country in South America that sends Minnesota coffee and cocoa.
Costa Rica
Bolivia
Chile
Brazil

Globalization and Trade Flashcards | StudBud