St.

Louise de Marillac College of Bogo

Sor D. Rubio St., Bogo City, Cebu
College Department
ANSWER SHEET PRELIM EXAMINATION in THE CONTEMPORARY WORLD
S.Y. 2020-2021

Name:__Wenceslao L. Canete iii___ Course & Year:_BSHM-1_ Date:__OCT 2,2020___ Score:______________

Test I. Identification Identify the term appropriate for each statement. . Write your answer on the blank provided
before the number.
ECONOMIC IMPERIALISM _1. It is a situation in which one nation assumes economic power or
influence over the others.
__ECONOMIC INTEGRATION__ 2. It is a term used to describe globalization as a condition.
_ETHNOCENTRISM_ 3. It is a conviction that there is a ”better” culture.
GERRING; STEGER 4. Has the description that globalization is an ideology.
SCHOTTTLE 5. He stated that globalization stands for quite a large public spread across the world.
__STEGER __ 6. He referred globalization to the expansion and intensification of social relations and
consciousness across world- time and world-space.
Globalization has various forms of connectivity such that it can be economic, political, or cultural.
7. It is an attribute of globalization enabled by various factors, pressures, or media, affect,
different degrees of interconnection.
__________FREEDEN________ 8. He said that globalization denotes a range of processes nesting under one
rather unwieldy epithet.
_WORLD ORGANIZATION _____ 9. They said globalization means increase of free trade, speed of trade,
global economic organization and regional trade blocks.
__ARJUN APPADURAI____ 10. He proposed five dimensions of global cultural flow; technoscapes,
mediascapes, ethnoscape, financescape, and ideoscapes.

Test II. Decode the acronyms used in globalization. Write the word/words on the space after the abbreviated item.

1. GDP- GROSS DOMESTIC PRODUCT

2. UN- UNITED NATIONS
3. EU- EUROPEAN UNION
4. ASEAN- ASSOCIATION OF SOUTHEAST ASIAN NATION
5. AFTA- ASIAN FREE TRADE AREA
6. NGO- NON-GOVERNMENT ORGANIZATION
7. WTO- WORLD TRADE ORGANIZATION
8. IMF- INTERNATIONAL MONETARY FUND
9. WB- WORLD BANK
10. EFTA- EUROPEAN FREE TRADE ASSOCIATION
11. ILO- INTERNATIONAL LABOR ORGANIZATION
12. FDI- FOREIGN DIRECT INVESTMENT
13. TRAIN- TRANSPORTATION ASSESSMENT INTEGRATION
14. BPO- BUSINESS PROCESS OUTSOURCING
15. MCNs- MULTI-CHANNEL NETWORKS
16. TCNs- THIRD COUNTRY NATIONALS
17. IMS- INTEGRATED MANAGEMENT SYSTEM
18. EMS- EUROPEAN MONETARY SYSTEM
19. IBRD- INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
20. EMU- EUROPEAN ECONOMIC AND MONETARY UNION

Test III. Essay: Discuss the following concepts on globalization. Each item is worth 5 points. Answer must
be 3-5 sentences only.

1. Differentiate the international monetary system.

The World Bank Community works with developing countries to alleviate poverty and increase mutual
prosperity, while the International Monetary Fund helps to stabilize the international monetary system and to
track world currencies. The World Bank Group provides finance, policy advice and technical assistance to
governments and also focuses on expanding the private sector in developing countries. The IMF keeps track of
the economy internationally and loans count to member countries.

2. International trade and trade policy are forms of economic integration, why?

GEC 3 TCW Page 1

 Because Economic integration can reduce the costs of trade, improve the availability of goods and
services, and increase consumer purchasing power in member nations. Employment opportunities tend to
improve because trade liberalization leads to market expansion, technology sharing, and cross-border
investment.

LCL20 Good Luck!!!

GEC 3 TCW Page 2

GEC 3 TCW Page 3