Essay, Pages 2 (252 words)
Economic interdependence means that every country has an interest in global economic
As economies grow, they demand more
Globalization has affected developed countries by
turning their focus to providing services.
What are the purposes of international economic organizations? Select all that apply.
to resolve trade disputes
to observe global economics
to encourage trade in developing countries
Globalization has led groups of nations to join _____organizations.
The graph shows US Oil Import Prices from 1995 to 2010.
What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?
A global recession
NAFTA can be defined as
an agreement between bordering nations.
Which group is an example of a commodity organization?
Organization of Petroleum Exporting Countries
A multinational organization is defined as a business that
operates in multiple countries.
The graph below shows global trade and percentage of GDP.
What conclusion should be drawn from the graph?
Trade increases create higher GDP percentage rates.
In countries such as China, globalization has led to
a better standard of living.
How can businesses best take advantage of globalization?
by increasing employment and production
Which of the following causes the most problems in countries with low economic growth?
higher standard of living
The graph shows US trade with Mexico.
In what years did US exports to Mexico remain approximately the same?
Why do companies choose to outsource work?
to increase profits
What is the primary purpose of the European Union?
to allow more trade between countries