What does NAFTA stand for?

North American Free Trade Agreement

Move production facilities overseas

Trade occurs because...

Unequal distribution of resources

What is a tariff meant to do?

Increase the price of the import

moving the production facilities overseas

All of these are considered costs of globalization except...

Increase in the price of imports

Hiring another company to do the work

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Globalization

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Questions 25

Answers

1
Exchange of goods and services is...
Tariff
Offshoring
Trade
Productive resource
2
What does NAFTA stand for?
North American Free Trade Administration
North Atlantic Free Trade Association
North Atlantic Free Trade Administration
North American Free Trade Agreement
3
European Union and NAFTA are examples of what?
Possible global recession
Free Trade Zone
World Trade Organization
Unequal distribution of resources
4
What is an example of a human resource?
Fresh water
Labor
Business owner
Machine
5
What is Offshoring?
Move production facilities overseas
Entrepreneurship
Drilling for natural resources
Someone else does the job
6
Includes a system of law and order
Capital resources
Infrastructure
Natural Resources
Economic Activity
7
Goods made, not to consume but to make other goods or services
Natural Resources
Human Resources
Entrepreneurship
Capital Resources
8
What is an example of an Entrepreneur?
Salesman
Worker
Middle management
Business owner
9
Trade occurs because...
Tariffs are low
World is more friendly
Unequal distribution of resources
Regions produce what they can
10
Which is not considered one of the four productive resources?
Capital resource
Infrastructure
Human resource
Entrepreneur
11
Why would an American Corporation move their facilities to China?
To many regulations in the US
They are trying to expand their company
The labor is cheaper
Nobody wants to the work in the US
12
The European Union and NAFTA are examples of...
GATT
Exclusive trading partners
WTO
Free Trade Zones
13
This influences agricultural activities
Climate
Globalization
Natural Resources
Capital Resources
14
What is a tariff meant to do?
Decrease the price of the import
Encourage trade
Increase the price of the import
Discourage trade
15
An example of a capital resource is...
Labor
Coal
Crops
Hammer
16
All are costs of globalization except...
Price of imports increases
Pandemics
Possible global recession
Exploitation of unstable countries
17
What is the investment a society makes by building roads and railroad tracks?
Globalization
Human resource
Capital resource
Infrastructure
18
What is offshoring?
work done by others
moving the production facilities overseas
work done off shore by someone else
Paying an asian company to do the work
19
All of these are considered costs of globalization except...
Possible global recession
Pandemics
Pollution
Increase in the price of imports
20
How many productive resources are there?
6
4
5
3
21
What is the purpose of productive resources?
Produce goods and services
Economic activities
Trade
Globalization
22
NAFTA includes what countries?
North America and South America
European Union and USA
Canada, USA and Europe
Mexico, USA and Canada
23
A Tariff is...
tax or levy on imported goods
Region that engages in trade
Trade company
Overseas shipping company
24
What is Outsourcing?
Moving production facilities overseas
Hiring another company to do the work
Entrepreneurship
Finding new resources
25
Why do companies outsource?
Specialization
Comparative advantage
Less Tariffs
Save money

Globalization Flashcards | StudBud