The chart above shows that for the majority of the world globalization has...

increased the standard of living.

The buying and selling of goods and services

Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less de

International division of labor

Quality of life based on ownership of necessities and luxuries that make li

the process of the world becoming more interconnected economically and cult

Products made in a factory usually by machinery and people on an assembly l

a model of development that explains global inequality in terms of the hist

What is a benefit of sweatshop labor in less developed countries?

The opportunity to move out of poverty

A shop or factory where workers work long hours at low wages under unhealth

Which statement best expresses the motive for 19th-century European imperialism?

Imperialism would benefit the economies of the colonial powers

Actions or activities that one person performs for another

Comparative Advantage

The ability of a country to produce a good at a lower cost than another cou

Which of the statements below best describes how India gained its independence?

Strong leaders led the country in using non-violent forms of conflict

What is the impact of free trade agreement being shown in the chart?

Manufacturing jobs are moving to countries with cheaper labor.

Why are many goods sold in the United States produced overseas, often in several countries?

It results in much lower prices for consumers.

The mutual beneficial trade relationship that exists between two countries

Which of the following is not a reason for why a country would participate in free trade?

Free trade encourages countries to develop a diverse economy

Free trade agreements

Pacts between countries that make it easier to trade goods across national

A good or service produced in the home country and sold in another country.

A relationship between countries in which they rely on one another for reso

the process of moving call centers and manufacturing out of the country tha

Items purchased to satisfy needs and wants

A system of trade between nations in which there are no special taxes place

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Unit 8: Trade and Commerce

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Questions 74

Answers

1
What is the process of MDCs shifting to a more service oriented economy from a manufacturing economy?
globalization
comparative advantage
the international division of labor
deindustrialization
2
The chart above shows that for the majority of the world globalization has...
increased the standard of living.
led to rise of more pandemics like AIDS and COVID-19.
led to the blending of cultures together.
increased the likelihood of terrorism.
3
To bring a product into a country to be sold
Raw Materials
Import
Manufactured Goods
Free trade agreements
4
Commerce
The buying and selling of goods and services
the process of the world becoming more interconnected economically and cult
To bring a product into a country to be sold
Transfer of some types of jobs, especially those requiring low-paid less sk
5
Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less de
Interconnected
Manufactured Goods
International division of labor
Dependency Theory
6
More developed countries usually trade more...
unprocessed petroleum.
lumber.
raw materials.
manufactured products.
7
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are different to them
have conflict
have cooperation
8
a model of development that explains global inequality in terms of the historical exploitation of poor nations by rich o
Goods
Deindustrialization
Dependency Theory
Tariff
9
Standard of Living
Materials or substances such as minerals, forests, water, and fertile land
Quality of life based on ownership of necessities and luxuries that make li
Exchange of goods and services
The process of more developed countries shifting to a more service oriented
10
What is the free trade agreement between the United States, Canada, and Mexico? Formerly known as NAFTA.
WTO
NATO
IMF
USMCA
11
What is an international organization formed after WWII to promote international peace, security, and cooperation?
the League of Nations
the United Nations
the World Trade Organization
the North Atlantic Free Trade Organization
12
A materials such as minerals, forests, or water that can be used for economic gain are...
manufactured resources
material resources
consumer resources
natural resources
13
Globalization
the process of the world becoming more interconnected economically and cult
mutually joined or related
Materials or substances such as minerals, forests, water, and fertile land
Pacts between countries that make it easier to trade goods across national
14
Manufactured Goods
the basic material from which a product is made.
Materials or substances such as minerals, forests, water, and fertile land
The mutual beneficial trade relationship that exists between two countries
Products made in a factory usually by machinery and people on an assembly l
15
Dependency Theory
Items purchased to satisfy needs and wants
To bring a product into a country to be sold
a model of development that explains global inequality in terms of the hist
The mutual beneficial trade relationship that exists between two countries
16
Interconnected
Products made in a factory usually by machinery and people on an assembly l
mutually joined or related
A shop or factory where workers work long hours at low wages under unhealth
the basic material from which a product is made.
17
The ability of a country to produce a good at a lower cost than another country can.
Comparative Advantage
Tariff
Interconnected
Manufactured Goods
18
Countries specializing in producing what they are good at producing, and importing other goods is
comparative advantage
free trade
standard of living
containerization
19
Germany’s largest export is motor vehicles. This demonstrated that their economy is most likely
more developed
stagnant
less developed
Communist
20
Tariff
Exchange of goods and services
The transporting of goods in standard-sized shipping containers
A tax on imported goods
Actions or activities that one person performs for another
21
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are different to them
have cooperation
have conflict
22
What is a benefit of sweatshop labor in less developed countries?
Fewer opportunities for women in the economy.
A wage that is similar to a living wage in the United States
Sweatshops are often very safe
The opportunity to move out of poverty
23
Sweatshop
A relationship between countries in which they rely on one another for reso
Quality of life based on ownership of necessities and luxuries that make li
A shop or factory where workers work long hours at low wages under unhealth
Exchange of goods and services
24
the basic material from which a product is made.
Manufactured Goods
Raw Materials
Deindustrialization
Free trade agreements
25
Which statement best expresses the motive for 19th-century European imperialism?
Imperialism would benefit the economies of the colonial powers
reducing the number of wars
living space for Europeans
benefits from culture
26
Exchange of goods and services
Containerization
Trade
Goods
Globalization
27
Services
Transfer of some types of jobs, especially those requiring low-paid less sk
Items purchased to satisfy needs and wants
A shop or factory where workers work long hours at low wages under unhealth
Actions or activities that one person performs for another
28
the process of the world becoming more interconnected economically and culturally
Globalization
Tariff
International division of labor
Comparative Advantage
29
Comparative Advantage
Products made in a factory usually by machinery and people on an assembly l
The buying and selling of goods and services
The ability of a country to produce a good at a lower cost than another cou
Items purchased to satisfy needs and wants
30
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for econ
Globalization
Standard of Living
Free trade agreements
Natural Resources
31
Which of the statements below best describes how India gained its independence?
The country wrote a Declaration of Independence
Strong leaders led the country in using non-violent forms of conflict
Ethnic groups led rebellions
They were slowly allowed to create its own government
32
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are similar to them
have cooperation
have conflict
33
Quality of life based on ownership of necessities and luxuries that make life easier
Standard of Living
International division of labor
Dependency Theory
Natural Resources
34
Products made in a factory usually by machinery and people on an assembly line
Deindustrialization
Free Trade
Export
Manufactured Goods
35
the process of moving call centers and manufacturing out of the country that the company is headquartered in
International division of labor
Outsourcing
Complementarity
Free trade agreements
36
A relationship between countries in which they rely on one another for resources, goods, or services
Interdependence
Trade
Containerization
Dependency Theory
37
A tax on imported goods
Tariff
Free trade agreements
Comparative Advantage
International division of labor
38
What is the impact of free trade agreement being shown in the chart?
There is a greater variety of goods available.
Manufacturing jobs are moving to countries with cheaper labor.
Prices for consumers are cheaper.
Increased tariffs restrict the movement of goods
39
Why are many goods sold in the United States produced overseas, often in several countries?
It leads to conflict between countries.
Overseas production is better for the environment.
It results in much lower prices for consumers.
It results in more jobs in the United States.
40
A worker in a sweatshop is most likely to experience...
a income of less than $2 a day.
all of the above
poor working conditions.
the use of child labor.
41
Complementarity
A good or service produced in the home country and sold in another country.
Items purchased to satisfy needs and wants
The mutual beneficial trade relationship that exists between two countries
the basic material from which a product is made.
42
A system of trade between nations in which there are no special taxes placed on imports
Standard of Living
Tariff
Natural Resources
Free Trade
43
Which of the following is not a reason for why a country would participate in free trade?
Free trade lowers prices by encouraging competition
Free trade between countries reduces the chance of conflict
Free trade encourages countries to develop a diverse economy
Free trade leads to economic growth.
44
mutually joined or related
Deindustrialization
Outsourcing
Raw Materials
Interconnected
45
Free trade agreements
Pacts between countries that make it easier to trade goods across national
The ability of a country to produce a good at a lower cost than another cou
Actions or activities that one person performs for another
A shop or factory where workers work long hours at low wages under unhealth
46
Export
a model of development that explains global inequality in terms of the hist
A good or service produced in the home country and sold in another country.
the basic material from which a product is made.
The buying and selling of goods and services
47
Interdependence
A shop or factory where workers work long hours at low wages under unhealth
A relationship between countries in which they rely on one another for reso
Products made in a factory usually by machinery and people on an assembly l
The transporting of goods in standard-sized shipping containers
48
Outsourcing
the process of moving call centers and manufacturing out of the country tha
To bring a product into a country to be sold
Exchange of goods and services
Quality of life based on ownership of necessities and luxuries that make li
49
A t-shirt being designed in Germany, produced in Vietnam, and sold in the United States, is
interdependence
less developed
independence
isolation
50
Goods
the process of the world becoming more interconnected economically and cult
Materials or substances such as minerals, forests, water, and fertile land
mutually joined or related
Items purchased to satisfy needs and wants
51
Free Trade
A system of trade between nations in which there are no special taxes place
Materials or substances such as minerals, forests, water, and fertile land
The mutual beneficial trade relationship that exists between two countries
the process of the world becoming more interconnected economically and cult
52
Why has global trade increased rapidly over the last century?
all of the above answers
Methods of transportation have improved
Trade barriers have reduced
Communication technology has improved
53
Raw Materials
A relationship between countries in which they rely on one another for reso
Quality of life based on ownership of necessities and luxuries that make li
Pacts between countries that make it easier to trade goods across national
the basic material from which a product is made.
54
A shop or factory where workers work long hours at low wages under unhealthy conditions
Sweatshop
Tariff
Outsourcing
Goods
55
Pacts between countries that make it easier to trade goods across national boundaries
Free trade agreements
International division of labor
Standard of Living
Comparative Advantage
56
Containerization
Items purchased to satisfy needs and wants
A system of trade between nations in which there are no special taxes place
Quality of life based on ownership of necessities and luxuries that make li
The transporting of goods in standard-sized shipping containers
57
The buying and selling of goods and services
Commerce
Natural Resources
Containerization
International division of labor
58
The mutual beneficial trade relationship that exists between two countries who trade
Goods
Interdependence
Complementarity
Import
59
Import
To bring a product into a country to be sold
A good or service produced in the home country and sold in another country.
Quality of life based on ownership of necessities and luxuries that make li
A tax on imported goods
60
The transfer jobs requiring low-paid less skilled workers from MDCs to LDCs is a part of...
free trade agreements.
deindustrialization.
containerization.
the international division of labor.
61
Trade
mutually joined or related
Quality of life based on ownership of necessities and luxuries that make li
Exchange of goods and services
Materials or substances such as minerals, forests, water, and fertile land
62
Which was a major effect of European imperialism on Africa?
Africans became economically dependent on European nations.
Most Africans voluntarily abandoned tribal or ethnic loyalties
Africans and Europeans developed a respect for each other's cultures.
Most African nations developed self-sufficient economies.
63
Which of the following is a negative effect of globalization?
Multinational corporations are declining in number
Increased environmental damage
Increased freedom and democracy
Higher standard of living
64
The process of more developed countries shifting to a more service oriented economy from a manufacturing economy
Free trade agreements
Raw Materials
Interconnected
Deindustrialization
65
Actions or activities that one person performs for another
Free trade agreements
Goods
Services
Deindustrialization
66
A good or service produced in the home country and sold in another country.
Export
Commerce
Deindustrialization
Containerization
67
Natural Resources
Products made in a factory usually by machinery and people on an assembly l
Materials or substances such as minerals, forests, water, and fertile land
the process of moving call centers and manufacturing out of the country tha
a model of development that explains global inequality in terms of the hist
68
Items purchased to satisfy needs and wants
Globalization
Manufactured Goods
Goods
Trade
69
Less developed countries usually trade more...
automobiles.
raw materials.
manufactured products.
consumer electronics.
70
The transporting of goods in standard-sized shipping containers
Natural Resources
Manufactured Goods
Containerization
Sweatshop
71
International division of labor
Pacts between countries that make it easier to trade goods across national
A system of trade between nations in which there are no special taxes place
Transfer of some types of jobs, especially those requiring low-paid less sk
The process of more developed countries shifting to a more service oriented
72
Deindustrialization
A tax on imported goods
Items purchased to satisfy needs and wants
The process of more developed countries shifting to a more service oriented
A good or service produced in the home country and sold in another country.
73
The process of increasing connections in the areas of economics, communications, technology, and politics is known as...
globalization
fundamentalism
modernization
dependency
74
What is the impact of outsourcing on the country that is doing the offshore outsourcing of jobs?
Gaining jobs
Companies can increase profits
Access to higher than average wages
The cost of goods available goes up

Unit 8: Trade and Commerce Flashcards | StudBud