Economic globalization is the increasing economic interdependence of national economies

across the world through a rapid increase in cross-border movement of goods, service,
technology, and capital. Some sociologists, like William I. Robinson has argued that because
a capitalist economy is premised on growth and expansion, a globalized economy is the
inevitable result of ________________.

-Capitalism

Britain, France, Germany, Russia, Netherlands, Japan, and the United States colonized
countries spread their empires. These nations have created global economic, political,
cultural, and social connections around the world. The extending of a country's power and
influence is called:

-Imperialism

The United Nations came into being in 1945, following the devastation of the Second World
War, with one central mission: the maintenance of international peace and security. The UN
does this by working to prevent conflict; helping parties in conflict make peace;
peacekeeping; and creating the conditions to allow peace to hold and flourish. What aspect
of globalization deals with the establishment of UN in order to maintain international peace
and security?

-Political

The 2016 Global Estimates of Child Labour indicate that one-fifth of all African children are
involved in child labour, a proportion more than twice as high as in any other region. Nine
per cent of African children are in hazardous work, again highest of all the world's regions.
Africa has the largest number of child labourers; 72.1 million African children are estimated
to be in child labour and 31.5 million in hazardous work (International Labour Organization,
2017). The statement means that:

-Child labor deprives children of their childhood.  

Dabbing, or the dab, is a simple dance move in which a person drops the head into the bent
crook of a slanted arm, typically while raising the opposite arm in a parallel direction but out
straight; both arms are pointed to the side and at an upward angle. Since 2015, it has also
been used as a gesture of triumph or playfulness, becoming a youthful American dance fad
and Internet meme (Ducey, 2015). Since the trend has gone viral, young Filipinos also picked
it up as a playful pose. The dab fad in the Philippines is what aspect of globalization?

-Cultural

When businesses want to manufacture their products at a cheaper rate, they employ the
services from developing countries which is possible in countries such as China and
Cambodia, where manufacturing costs and wages are lower than highly developed
countries. This business practice is called ____________.

-Networking

Social media has become a ubiquitous part of daily life, but this growth and evolution has
been in the works since the late 70s. From primitive days of newsgroups, listservs and the
introduction of early chat rooms, social media has changed the way we communicate,
gather and share information, and given rise to a connected global society (Morrison, 2015).
This evolution of social media is what aspect of globalization?

-Sociological 

Which of the following statements is true about the effects of globalization?

-All of the choices. 

_____ is the timeframe over which a thing is created, passed on to exhibit, and over the long
run removed from the world market.

-Item life cycle

Which of the following statements is not true about globalization?

- Globalization is a recent phenomenon which traces its origin in the Information Age and
thrived because of the presence of social media and new technologies.

In his book, The Modern World System, American sociologist Immanuel Wallerstein
described high-income nations as the ____ of the world economy.

- Core

The level of personal or family income below which one is classified as poor according to
governmental standards:

- Poverty line

KFC was founded by Colonel Harland Sanders, an entrepreneur who began selling fried
chicken from his roadside restaurant in Corbin, Kentucky during the Great Depression.
Sanders identified the potential of the restaurant franchising concept, and the first
"Kentucky Fried Chicken" franchise opened in Utah in 1952. By 1963, Sanders was fielding
franchise requests without having to put in the legwork, and had more than 600 restaurants
across the US and Canada selling Kentucky Fried Chicken. Years later, Kentucky Fried
Chicken would establish its own restaurants around the world, and the rest is history. The
success of KFC as a business is what attribute of global corporations?

- Value opportunity to expand

The term international financial institution typically refers to the International Monetary
Fund, the World Bank Group, the African Development Bank, the Asian Development Bank,
the Inter-American Development Bank, and the European Bank for Reconstruction and
Development. The last five banks are considered MDBs. What does MDBs stand for?

- Multilateral Development Banks

The United Nations defines _____ as a condition characterized by severe deprivation of basic
human needs including food, safe drinking water, sanitation facilities, health, shelter,
education and information.

- Extreme poverty

With around 20,000 stores in 63 countries, Starbucks, the world's most popular coffee house
has made its mark from Brazil to China, where many thought it would fail to take off due to
the cultural importance of tea drinking. The company has gone to great lengths to make
sure that every Starbucks feels like a local coffee house, without losing brand consistency.
For example, in China, a regional dislike for coffee was combatted with coffee-free drinks,
whilst stores in Asia feature more adaptable seating arrangements to cater for larger
groups. This effort is what attribute of a global corporation?

- Understand different cultures

The Millennium Development Goals were the eight international development goals created
by the United Nations for the year 2015 to address the different problems in the world.
Which of the following ranked first in the eight development goals?

- Eradicate extreme hunger and poverty

Which of the following statements is not true?

- Membership in the regional development banks is limited to countries from the region.

Which of the following statements is not true?

- Economic globalization is the independence of world economies as a result of the growing

scale of cross-border trade of commodities and services.

Which of the following is not true about the history of global market integration?

- The high costs of and the risks associated with long voyages did not limit trade to a
relatively small set of commodities of high value relative to their weight and bulk.

Conflicts in Central America made major progress toward a peaceful settlement, thanks to
an active role played by the United Nations. A general election was held on February 25,
1990. What was the name of the committee established by UN in response to a request by
Central American countries, which started its activity to ensure the dissolution and
repatriation of the anti-government guerrillas?

- Committee on International Assistance and Verification

This type of financing is provided by Multilateral Development Banks to member countries,

with maturities of up to 20 years, based on market interest rates. The financial resources for
these loans are obtained by borrowing on the international capital markets and re-lend to
borrowing governments in developing countries:

- Personal loans

In January 1989, the UN Security Council passed a resolution to implement in April the
resolution to establish the UN Transition Assistance Group (UNTAG) and called for material
and personnel support from member countries. In November, a constitutional assembly
election was held under observation of the UNTAG. As a result, this country became
independent in March 1990 and joined the United Nations in April:

- Namibia

These institutions provide financial support and professional advice for economic and social
development activities in developing countries and promote international economic
cooperation and stability:

- International Financial Institutions

Since joining the world body in 1956, this country has all along positioned cooperation with
the United Nations as a major pillar of its diplomacy. It has cooperated in UN activities in a
wide range of areas, making the second largest financial contributions among the member
States next only to the United States:

- Japan

Philip Morris International is an American cigarette and tobacco company which sells its
products in 180 countries outside the United States. In the Forbes Global 2000 List, it
grabbed the top spot with foreign revenue unsurprisingly accounting for 100 percent of
total revenue, considering that it sells its products exclusively overseas. What attribute of
global corporations does Philip Morris International employ?

- Carefully chosen international partners

Korean Pop music or more famously known as K-pop has become a truly global
phenomenon because of its distinctive blend of addictive melodies, slick choreography and
production values, and an endless parade of attractive South Korean performers who spend
years in grueling studio systems learning to sing and dance in synchronized perfection.
Aside from the music, K-pop has also influenced the global audience in terms of fashion,
movies, dramas, and cuisine. K-pop has been building for two decades, but K-pop in
particular has become increasingly visible to global audiences in the past five to 10 years.
South Korean artists have hit the Billboard Hot 100 chart at least eight times since the
Wonder Girls first cracked it in 2009 with their crossover hit "Nobody" - released in four
different languages, including English - and the export of K-pop has ballooned South
Korea's music industry to an impressive $5 billion industry. K-pop is what aspect of
globalization?

- Cultural

This includes private economy, educational institutions, churches, hospitals, fraternal

organizations, and other non-profit organizations:

- Political party

Long before Airbnb persuaded strangers to sleep in one another's homes and became a $25
billion company, it was just an idea to make extra bucks and make rent. It started with an
email. Joe Gebbia sent his roommate, Brian Chesky, an idea: What if they made a designer's
bed and breakfast, complete with a sleeping mat and breakfast? It was a way to "make a few
bucks." Almost nine years later that idea is worth $25 billion. They created a simple site,
airbedandbreakfast.com, and bought three air mattresses. The duo had met at college at the
Rhode Island School of Design, so they thought acting as tour guides to designers would be
a fun way to make money. By 2011, four years after the first air mattress guests, Airbnb was
already in 89 countries and had hit 1 million nights booked on the platform. It also finally
won the break-out mobile app award at SXSW - despite having tried to launch there three
years earlier (Carson, 2016). What attribute of global corporations contributed to the
success of Airbnb?

- Turbo-charged by the internet

Which of the following examples refers to political factor influencing economic

globalization?

- The Lydians introducing the coins in the western world in 700 BC

A group of people who has the ultimate authority to act on behalf of a state is called:

- Government

According to Albert Subbloie, CEO and Founder of Tangoe, a good benchmark of whether
your company should continue efforts in a country is when _______ percent of your business
is coming from outside the United States.

- 20-50%

The level of riches, comfort, material merchandise, cash and necessities accessible to a
specific financial class in a specific region is called:

- Way of life
Which of the following is not true about the attributes of global corporations?

-  High-growth companies view international markets as untapped markets full of potential.

The United Nations came into being in 1945, following the devastation of the Second World
War, with one central mission: the maintenance of international peace and security. The
United Nations is responsible for maintaining ceasefires and stabilizing situations on the
ground, providing crucial support for political efforts to resolve conflict by peaceful means.
Those missions consisted of unarmed military observers and lightly armed troops with
primarily monitoring, reporting and confidence-building roles. Which unit of the United
Nations is responsible for these efforts?

- Security Council

One of the traditional challenges of a country is an invasion of other countries, which is also
called:

- Military unrest

Which of the following examples refers to historical factor influencing economic

globalization?

- Europeans traveled around the globe to barter crafts and furs in exchange for silks and
perfumes in the Middle Ages

Which of the following examples refers to generation issues as factors influencing economic
globalization?

- Establishment of the North Atlantic Treaty Organization (NATO)

This type of financing is provided by the Multilateral Development Banks to member

countries, mostly for technical assistance, advisory services, or project preparation:

- Long-term loans

This type of financing is provided by the Multilateral Development Banks to member

countries, with maturities of 30 to 40 years, at interest rates well below market rates. These
are funded through direct contributions by governments in the donor countries:

- Personal loans

Among the eight Millennium Development Goals created by the United Nations in the
1990's, which ranked first?

- Eradicate extreme poverty and hunger