APEX Econ 6.3: The Challenges of Globalization

Categories: Globalization

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Which of the following is not a hazard of globalization?

Increased prices

Globalization can lead to radically unequal economic growth because of what?

An unequal distribution of economic power

Why do globalization and increasing interdependence pose risks to the global economy?

Disruptions in one place have effects everywhere

Which of these has occurred during the most recent period of globalization?

The income gap between rich and poor countries has widened

What is one of the negative effects of globalization?

An increasing income gap between rich and poor countries

The most recent period of globalization increased the global GDP at the same time it did what else?

Widened the income gap between rich and poor countries

Which of the following characterizes developing countries?

A low standard of living

What is the main difference between developed countries and developing countries?

The income level and standard of living

Which of these is the largest difference between developed and developing countries?

The level of wealth

What is true of the majority of the world’s countries today?

They are left on the margins of globalization

Which two countries are the biggest and most successful of the “new globalizers”?

China and India

What has happened recently in the group of countries known as the “new globalizers”?

There has been a dramatic increase in international trade

What is the main reason why some developing countries fear the increase of free-trade policies around the world?

Their industries are too weak to compete with foreign competitors

Why have many developing countries failed to benefit from the spread of free trade around the world?

Developed countries continue to maintain high tariffs on the agricultural goods that developing countries export in large numbers

How do developed countries maintain an advantage over developing countries in international trade?

They maintain high tariffs on the agricultural goods that many developing countries export

Globalization has increased which of the following throughout the world?

The migration of workers

What has contributed to the increase in labor migration during the recent period of globalization?

Workers are going to developed countries in search of better-paying jobs

What is happening in the information technology sector of the global economy?

Many information technology jobs are shifting from developed countries to the new globalizers

Why does globalization contribute to the rise of international terrorism?

Globalization has resulted in turmoil and dislocation for many people around the world

Why has globalization enabled countries that abuse human rights to continue to do so?

Companies taking advantage of low labor costs don’t make trouble for repressive governments

Why has globalization resulted in increasing environmental damage around the world?

The profit motive drives companies that are competing in the global marketplace to exploit natural resources

Match each of the global business practices with an example of its use.

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A. Offshoring
B. Outsourcing
C. Insourcing

A. A U.S. car company begins making certain car parts in Bangladesh.
B. A U.S. car company hires a South Korean company to make its tires.
C.
A Japanese car company opens a factory in the United States.

Match each of the global business practices with an example of its use.
A. Offshoring
B. Outsourcing
C. Insourcing

A. A Brazilian clothing company opens a factory in Indonesia to take advantage of lower labor costs.
B. A U.S. clothing company buys shirts and pants from a clothing manufacturer in Turkey.
C. A Mexican clothing company opens a textile mill in the United States where it sells most of its products.

Match each of the global business practices with an example of its use.
A. Offshoring
B. Outsourcing
C. Insourcing

A. A U.S. computer company begins making its monitors in China.
B. A Canadian computer company hires an Indian company to handle its customer service calls.
C. A European computer company opens a factory in the United States where it sells most of its computers.

Why does the U.S. textile industry lose jobs to foreign countries?

Cheap imports can force U.S. companies out of business

Which of these is most directly responsible for job loss in the United States?

Cheap imported goods

Why do lower labor costs in other countries lead to job loss in the United States?

Lower labor costs enable producers to export inexpensive products to the United States

How do people in the United States benefit from globalization?

Economic growth

How does globalization hurt the United States economy?

By bringing wage reductions

Which of these is a problem that globalization poses for the U.S. government?

Increased security concerns