Globalization

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Question 1

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The shift toward a more integrated and interdependent world economy is referred to as globalization.

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Question 2

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A company does not need a large size to facilitate,and benefit from,the globalization of markets.

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Question 3

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Companies hope to lower their overall cost structure or improve the quality or functionality of their product offering through globalization of production.

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Question 4

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The most global markets currently are markets for consumer products.

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Question 5

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Outsourcing is a process that is limited to manufacturing enterprises.

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Question 6

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The health care sector in the U.S.cannot avail the benefits of outsourcing to low-cost producers in other nations because of the nature of the work.

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Question 7

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The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties.

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Question 8

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The World Bank is known as the lender of the last resort.

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Question 9

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One of the UN's central mandates is the promotion of higher standards of living,full employment,and conditions of economic and social progress and development.

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Question 10

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The Uruguay Round,finalized in December 1993,reduced protection for patents,trademarks,and copyrights.

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Question 11

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"Beggar thy neighbor" retaliatory trade policies involved countries progressively lowering trade barriers against each other,which contributed to the Great Depression of the 1930s.

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Question 12

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Rivers Inc.,a U.S.based sports apparel manufacturer,sets up a production unit in China to take advantage of the lower labor costs there.This is an example of foreign direct investment.

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Question 13

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World Bank gives an aid of 100 million dollars to Kenya for creating rural health care facilities.This is an example of foreign direct investment.

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Question 14

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The lowering of barriers to international trade enables firms to view the world,rather than a single country,as their market.

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Question 15

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According to WTO data,the volume of world merchandise trade has grown faster than the world economy since 1950.

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Question 16

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The expansion of world trade implies that nations are becoming less dependent on each other for important goods and services.

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Question 17

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Over the past 30 years the flow of FDI has accelerated faster than the growth in world trade and world output.

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Question 18

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The globalization of markets and production and the resulting growth of world trade,foreign direct investment,and imports all imply that firms are finding their home markets protected from foreign competitors.

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Question 19

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The cost of microprocessors continues to fall,while their power increases.This statement supports the predictions made by Moore's Law.

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Question 20

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Efficiency gains associated with containerization have caused transportation costs to fall dramatically.

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