Changing Economic World: Explore Globalization, Development, and Technology

Question 1

How have multinational corporations contributed to globalization and impacted the economic development of various countries?

Accepted Answer

By promoting free trade, reducing barriers, and fostering global interconnectedness and economic integration.

Answer

By investing primarily in developed nations, widening economic gaps and slowing growth in less developed regions.

Answer

By exploiting cheap labor and resources in less developed countries, leading to economic dependency and hindering sustainable development.

Question 2

How does climate change affect economic growth and development? Discuss the challenges and opportunities it presents for promoting sustainable economic development.

Accepted Answer

Climate change presents challenges to economic growth, yet it also offers opportunities for promoting sustainable economic development.

Answer

Climate change has no significant impact on economic growth and development.

Answer

Promoting sustainable economic development is the only way to address the challenges posed by climate change.

Answer

The challenges of climate change outweigh the opportunities for sustainable economic development.

Question 3

Examine the ethical considerations surrounding economic growth. Weigh the benefits of economic progress against the potential drawbacks for society and the environment.

Accepted Answer

The ethical implications of economic growth require careful evaluation and should be balanced against its potential benefits.

Answer

Economic growth is inherently ethical because it creates wealth and improves living standards.

Answer

Social and environmental concerns should always take precedence over economic growth.

Question 4

Which of the following is a primary driver of globalization?

Accepted Answer

Advancements in technology and transportation

Answer

Increased political cooperation

Answer

Cultural isolationism

Answer

Economic nationalism

Question 5

How has technology influenced global trade in recent decades?

Accepted Answer

Reduced transportation costs and increased access to global markets

Answer

Increased trade barriers and protectionism

Answer

Eliminated the need for intermediaries

Answer

Reduced the overall volume of global trade

Question 6

What is a core objective of the World Trade Organization (WTO)?

Accepted Answer

To promote free trade and reduce trade barriers

Answer

To provide financial assistance to developing countries

Answer

To regulate international investment

Answer

To protect intellectual property rights

Question 7

Which of the following is a quantitative measure of economic inequality?

Accepted Answer

Gini coefficient

Answer

GDP per capita

Answer

Human Development Index

Answer

Purchasing Power Parity

Question 8

How has the rise of China as an economic power affected the global economy?

Accepted Answer

Increased global competition and shifted supply chains

Answer

Reduced economic growth in developed economies

Answer

Increased global financial stability

Answer

Decreased the demand for natural resources

Question 9

What is a key principle of the theory of comparative advantage?

Accepted Answer

Countries should specialize in producing goods and services where they have the lowest opportunity cost

Answer

Countries should protect their domestic industries from foreign competition

Answer

Countries should aim to produce everything they need for self-sufficiency

Answer

Countries should export all their goods and services to maximize revenue

Question 10

What is a key goal of sustainable economic development?

Accepted Answer

To balance economic growth with environmental protection

Answer

To prioritize short-term economic gains over long-term sustainability

Answer

To exploit natural resources without regard for future generations

Answer

To ignore the social and environmental impacts of economic activities

Question 11

Which of the following is NOT a key characteristic of globalization?

Accepted Answer

Reduced cultural diversity

Answer

Increased economic interconnectedness

Answer

Accelerated technological advancements

Answer

Heightened economic interdependence

Question 12

Which of the following is a valid indicator of economic development?

Accepted Answer

Gross Domestic Product (GDP) per capita

Answer

Infant mortality rate

Answer

Carbon emissions

Answer

Number of internet users

Question 13

What is a key characteristic of a multinational corporation (MNC)?

Accepted Answer

Has business operations in multiple nations

Answer

Primarily operates within a single country

Answer

Employs individuals exclusively from its home country

Answer

Exclusively produces goods within its home country

Question 14

Which of the following is a primary driver of globalization?

Accepted Answer

Advancements in technology

Answer

Political stability

Answer

Cultural differences

Answer

Economic inequality

Question 15

Which of the following is a potential challenge associated with globalization?

Accepted Answer

Spread of infectious diseases

Answer

Increased political stability

Answer

Reduced unemployment

Answer

Enhanced environmental protection

Question 16

What is the primary role of the World Trade Organization (WTO)?

Accepted Answer

To promote free trade and reduce trade barriers

Answer

To provide humanitarian aid to developing countries

Answer

To regulate the global financial system

Answer

To protect intellectual property

Question 17

What is the term for the relocation of business operations to countries with lower labor costs?

Accepted Answer

Offshoring

Answer

Outsourcing

Answer

Relocation

Answer

Migration

Question 18

Which economic theory emphasizes innovation and technological progress as key drivers of economic growth?

Accepted Answer

Schumpeterian theory

Answer

Marxist theory

Answer

Keynesian theory

Answer

Neoclassical theory

Question 19

Which of the following is NOT a key principle of sustainable economic development?

Accepted Answer

Maximizing economic growth at any cost

Answer

Reducing poverty

Answer

Improving social equity

Answer

Protecting the environment

Question 20

Which theory suggests that economic development occurs in a linear, sequential manner?

Accepted Answer

Rostow's Modernization Theory

Answer

Kuznets' Kuznets Curve

Answer

Schumpeter's Innovation Theory

Answer

Friedman's Free Market Theory

Question 21

What is the term for the barriers and restrictions that hinder the movement of goods and services across borders?

Accepted Answer

Trade protectionism

Answer

Economic isolationism

Answer

Global tariffs

Answer

Import quotas

Question 22

What is the term for the process of integrating economies and markets on a global scale?

Accepted Answer

Globalization

Answer

Neoliberalism

Answer

Interdependence

Answer

Trade liberalization

Question 23

What is the main goal of sustainable development?

Accepted Answer

To meet the needs of the present without compromising the ability of future generations to meet their own needs

Answer

To maximize economic growth at any cost

Answer

To protect the environment at the expense of economic development

Answer

To reduce poverty and inequality

Question 24

What is the term used to describe the process by which countries improve their economic well-being?

Accepted Answer

Economic development

Answer

Industrialization

Answer

Modernization

Answer

Urbanization

Question 25

Which of the following is an example of a primary sector industry?

Accepted Answer

Agriculture

Answer

Manufacturing

Answer

Services

Answer

Tourism

Question 26

What is the primary goal of the World Trade Organization (WTO)?

Accepted Answer

To promote free and fair trade

Answer

To protect intellectual property rights

Answer

To reduce global poverty

Answer

To promote sustainable development

Question 27

Identify the term that describes the economic transformation driven by technological advancements:

Accepted Answer

Digital transformation

Answer

Mechanization

Answer

Globalization

Answer

Industrialization

Question 28

Which of the following phrases best captures the process of increasing global economic interconnectedness?

Accepted Answer

Globalization

Answer

Economic cooperation

Answer

Regional integration

Answer

International trade

Question 29

Identify the factor that does NOT contribute to the phenomenon of globalization:

Accepted Answer

Government policies promoting isolationism

Answer

Technological advancements in communication and transportation

Answer

Increased international trade

Answer

Global political agreements

Question 30

Identify the type of economy that prioritizes knowledge, education, and research as primary drivers of growth:

Accepted Answer

Knowledge economy

Answer

Digital economy

Answer

Industrial economy

Answer

Service economy

Question 31

Which term describes the process where countries form economic partnerships, reducing trade barriers and aligning economic policies?

Accepted Answer

Regionalism

Answer

Globalism

Answer

Internationalism

Answer

Multilateralism

Question 32

Which of the following is not a potential challenge presented by the changing economic world?

Accepted Answer

Accelerated economic growth

Answer

Increased economic inequality

Answer

Job displacement due to automation

Answer

Environmental degradation

Question 33

According to the theory of comparative advantage, countries should specialize in producing and exporting:

Accepted Answer

Goods and services they can produce most efficiently and at a lower cost

Answer

Goods and services they consume the most

Answer

Goods and services that are in high demand globally

Answer

Goods and services that require the most advanced technology

Question 34

Which of the following is NOT a key characteristic of globalization?

Accepted Answer

Cultural diversity

Answer

Enhanced connectivity between countries

Answer

Reduced trade barriers

Answer

Increased interdependence

Question 35

What is the primary objective of the World Bank?

Accepted Answer

To promote economic growth and reduce poverty in developing nations

Answer

To provide financial援助 to businesses and governments globally

Answer

To regulate international trade and investment

Answer

To enforce environmental protection laws

Question 36

What is the term used to describe the movement of people from rural areas to urban centers?

Accepted Answer

Urbanization

Answer

Migration

Answer

Industrialization

Answer

Suburbanization

Question 37

What is the term used to describe the notion that economic growth can have adverse effects on the environment?

Accepted Answer

Environmental Kuznets curve

Answer

Tragedy of the commons

Answer

Carbon footprint

Answer

Sustainable development

Question 38

Globalization is characterized by:

Accepted Answer

Increased cross-border economic activity

Answer

Reduced government regulation

Answer

Decreased cultural diversity

Answer

Increased economic isolationism

Question 39

The term describing the transfer of economic practices and technologies from developed to less developed countries is:

Accepted Answer

Technological diffusion

Answer

Economic convergence

Answer

Capital accumulation

Answer

Comparative advantage

Question 40

The international organization promoting free trade and economic cooperation is:

Accepted Answer

World Trade Organization

Answer

World Bank

Answer

International Monetary Fund

Answer

United Nations

Question 41

The process of the service sector becoming dominant in advanced economies is referred to as:

Accepted Answer

Tertiarization

Answer

Industrialization

Answer

Deindustrialization

Answer

Globalization

Question 42

The economic principle suggesting trade benefits all countries, even if specific industries suffer losses, is:

Accepted Answer

Comparative advantage

Answer

Absolute advantage

Answer

Mercantilism

Answer

Protectionism

Question 43

An example of a non-tariff trade barrier is:

Accepted Answer

Product safety standards

Answer

Import tariffs

Answer

Export subsidies

Answer

Quotas

Question 44

The primary function of the International Monetary Fund (IMF) is to:

Accepted Answer

Maintain stability in the global financial system

Answer

Promote economic development in developing countries

Answer

Facilitate international trade

Answer

Provide humanitarian aid

Question 45

The term used to describe the process of economic development is:

Accepted Answer

Economic growth and development

Answer

Industrialization

Answer

Modernization

Answer

Export-oriented growth

Question 46

The use of technology to facilitate global economic activities is known as:

Accepted Answer

Digital transformation

Answer

Economic globalization

Answer

Technological innovation

Answer

E-commerce

Question 47

The process by which goods and services are standardized to meet global demand is called:

Accepted Answer

Homogenization

Answer

Localization

Answer

Diversification

Answer

Integration

Question 48

The World Trade Organization (WTO) is an international organization that primarily:

Accepted Answer

Sets global trade rules

Answer

Promotes free trade

Answer

Resolves trade disputes

Answer

Provides monetary aid to developing countries

Question 49

The term used to describe the process by which the private sector takes over state-owned businesses is:

Accepted Answer

Privatization

Answer

Nationalization

Answer

Denationalization

Answer

Deregulation

Question 50

Analyze the potential advantages and ethical dilemmas posed by consumerism. Discuss strategies for encouraging ethical sourcing and sustainable consumption.

Accepted Answer

Consumerism can drive economic growth but may also worsen environmental issues.

Accepted Answer

Sustainable consumption emphasizes environmentally and socially responsible choices in purchasing.

Accepted Answer

Ethical sourcing ensures products are made in a way that respects workers' rights and minimizes environmental harm.

Question 51

Which of the following is a key factor contributing to the globalization of the world economy?

Accepted Answer

Advancements in technology

Answer

Increased political cooperation

Answer

Reduced cultural diversity

Answer

Growth of protectionist policies

Question 52

What term refers to the process of adopting economic and industrial practices from developed countries?

Accepted Answer

Modernization

Answer

Westernization

Answer

Industrialization

Answer

Globalization

Question 53

Which of the following characteristics is associated with post-industrial economies?

Accepted Answer

Dominance of service and knowledge-based industries

Answer

Focus on heavy manufacturing

Answer

High levels of unemployment

Answer

Limited technological innovation

Question 54

What term describes the interconnectedness of global financial markets?

Accepted Answer

Financial integration

Answer

Economic interdependence

Answer

Global trade

Answer

Political globalization

Question 55

Which of the following is an example of a multinational corporation (MNC)?

Accepted Answer

Nike

Answer

United Nations

Answer

World Bank

Answer

International Monetary Fund

Question 56

What term is used to describe the increasing interconnectedness and interdependence of the global economy?

Accepted Answer

Globalization

Answer

Internationalization

Answer

Convergence

Answer

Integration

Question 57

Which of the following is NOT a characteristic of globalization?

Accepted Answer

Increased economic equality

Answer

Increased interconnectedness of people and economies through trade, communication, and technology

Answer

Greater movement of capital and labor across borders

Answer

Reduced trade barriers, such as tariffs and quotas

Question 58

Which of the following is an example of a multinational corporation (MNC)?

Accepted Answer

McDonald's

Answer

BBC

Answer

NHS

Answer

Tesco

Question 59

How has the rise of e-commerce affected traditional retail, both positively and negatively?

Accepted Answer

E-commerce has helped traditional retail by expanding its reach and lowering costs, but it has also increased competition and changed how people shop.

Answer

E-commerce has helped traditional retail by providing new ways to make money and build relationships with customers.

Answer

E-commerce has hurt traditional retail by taking away market share and making physical stores less important.

Answer

E-commerce has had little effect on traditional retail because people still prefer to shop in person.

Question 60

Which of the following is a key driver of globalization?

Accepted Answer

Advancements in technology, particularly in transportation and communication

Answer

Political stability and cooperation

Answer

Cultural isolation and resistance to foreign influence

Answer

Economic recession and protectionist policies

Question 61

What is the term used to describe the process of countries becoming more economically interdependent through the expansion of trade and investment?

Accepted Answer

Economic integration

Answer

Free trade

Answer

Protectionism

Answer

Globalization

Question 62

Which of the following is a potential benefit of globalization?

Accepted Answer

Increased economic growth and opportunities

Answer

Reduced inequality and poverty

Answer

Environmental degradation

Answer

Loss of cultural identity

Question 63

What is the primary objective of the World Trade Organization (WTO)?

Accepted Answer

To promote free trade and resolve trade disputes between countries

Answer

To regulate global financial markets

Answer

To provide humanitarian aid to developing countries

Answer

To coordinate international environmental policies

Question 64

Which of the following is a multinational corporation (MNC)?

Accepted Answer

Apple

Answer

BBC

Answer

NHS

Answer

Tesco