GEC04-MODULE 1

DIAGNOSTICS: Instructions: Write AGREE if you think the statement is correct;

otherwise, DISAGREE.
AGREE 1. Globalization is I and the world.
AGREE 2. The world that we live in now is a product of globalization in the past.
DISAGREE 3. Globalization gone too far, heading in the wrong direction.
AGREE 4. All people benefit from globalization.
DISAGREE 5. Globalization is another word for Americanization.

EVALUATION ASSESSMENT TEST. Now that we are finished with our first lesson, let
us try to evaluate the learning you have presumably gained by answering these
questions. At this stage, you might want to review and scan the module. Then you may
start answering. Please be honest with your responses and try not to look or even take
a glimpse on the text that we have studied as you make your responses. A.
Identification. On the blank, write the word or group of words being defined or referred
to: (16 pts.)
INTERNATIONALIZATION AND GLOBALIZATION 1. A factor important in the globalization process that
facilitates human interactions in communication, transportation etc. that no longer confines them by
territorial means

THEODORE LEVITT 2. Former Harvard Business School Professor who o popularized

the term globalization in his 1983 article entitled “The Globalization of Markets”
TARIFF 3. A schedule of duties or taxes imposed by a government on imported or in
some countries exported goods which results in reduced cost on selling price
ECONOMIC GLOBALIZATION 4. A facet of globalization which is defined as “the closer
integration of national economies through trade and financial flows as well as cross-
border migration of people”
TRADE LIBERALIZATION 5. Process or policy of removal or reduction of restrictions or
barriers on the free trade of nations like abolition of tax on imported goods
PRIVITIZATION 6. The loosening or lifting of government regulations, usually to favor
private corporations‟ flexibility of operations and profitability
MANFRED B. STEGER 7. Defines globalization as the process of expansion and
intensification of social relations and consciousness across world-time and across
world-space
GLOBALIZATION 8. An attribute of globalization which refers to creation of new social
networks and likewise the multiplication of existing connections that cut across
boundaries
INTENSIFICATION 9. An attribute of globalization that refers to the stretching and
acceleration of social networks and global connectedness
CAPITALISM 10. An economic system or framework characterized by private or
corporate ownership of capital goods, production, and distribution and which is primarily
premised on “profit motive” and tied up with globalization of economy
MANFRED STEGER11. Supporters of globalization that favor market-oriented reform
policies such as "eliminating price controls, deregulating capital markets, lowering trade
barriers" and reducing state influence in the economy, especially through privatization
and austerity.
PRIVATISATION 12. Process or policy of subjecting an industry or service to private
control and ownership
ENVIRONMENT 13. Critics of globalization which favor changing the current system of
globalization to make it more humane, more-pro-environment, and more grassroots-
driven
FREE TRADE AGREEMENT 14. The exchange of goods or products between nations
without tariff or tax or much restriction
COST OF MANUFACTURING 15. Influence or control over another country, a group of
people, etc. brought about by globalization which its critics oppose
MIGRATION 16. The transfer or movement of people from one country to another which
is linked with globalization
B. True or False. On the blank before each number, write “TRUE” if the statement is
correct and “FALSE” if otherwise. (10 pts.)
TRUE 1. We are citizens of the world.
TRUE 2. Central to the study of the world is the concept of globalization
TRUE 3. In globalization, free movement of persons is achieved through liberalization.
TRUE 4. The degree of connectivity in globalization process is even.
TRUE 5. Globalization processes occur only at an objective level.
FALSE 6. According to the critics of globalization nobody is in charge of globalization
and it benefits everyone in the long run
TRUE 7. Liberalizing the global economy through lifting tariffs will eventually make
imported goods relatively cheaper to buy.
TRUE 8. One positive aspect of globalization is global income and wealth equality.
TRUE 9. Developed countries‟ investments in the developing countries can earn profits
which the former typically reinvests in latter than repatriate to their mother country.
TRUE 10. In globalization, technology transfers on a massive scale seldom happens
C. Enumeration. (24 pts.)
1 – 5. 5 intersecting dimensions of integration that bring about different kinds of
globalization (according to Arjun Appadurai)
*Appadurai's five scapes or flows are: ethnoscapes, technoscapes, ideoscapes,
financescapes, and mediascapes.
6 – 9. 4 “freedoms” in economic globalization (European Union)
*The four fundamental freedoms as they are known today are: the free movement of
goods, persons, services and capital.
10–11. 2 camps opposed to globalization

* The academics are divided into two opposing camps over globalization: globalization
skeptics, and hyper-globalizers.
12–15. 4 attributes of globalization

* The International Monetary Fund (IMF) identified four basic aspects of globalization:
trade and transactions, capital and investment movements, migration and
movement of people, and the dissemination of knowledge.
16–18. 3 positive aspects of globalization
* The Positive aspects of globalisation are - (i) It creates more employment
opportunities. (ii) It encourages free trade. (iii) It leads to a better choice of goods and
services to the consumer.
19–21. 3 negative aspects of globalization
* Unequal economic growth
Lack of local businesses
Increases potential global recessions
22–24. 3 reasons why globalization favors developed countries more than developing
ones
* Developed nations benefit under globalization as businesses compete worldwide,
and from the ensuing reorganization in production, international trade, and the
integration of financial markets.