Move production facilities overseas

Trade occurs because...

Unequal distribution of resources

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

Increase in the price of imports

moving the production facilities overseas

What does NAFTA stand for?

North American Free Trade Agreement

What is a tariff meant to do?

Increase the price of the import

Hiring another company to do the work

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Globalization

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Questions 25

Answers

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

Globalization Flashcards | StudBud