The Globalization Quiz Test your knowledge of global economic integration with this quiz. See how the world has become more interconnected with the process of globalization. remus2009 published on April 22, 20230 responses 0 « Previous Next » Questions in vertical order 1/12 What is the main purpose of globalization? Reduce job opportunities Increase living standards Improve world economy All of the above 2/12 What is the main disadvantage of globalization? Affordable luxury goods Decreased cultural identity Low wage jobs Rise in poverty rate 3/12 How does globalization impact the environment? Destruction of habitats Surplus energy resources Significant water pollution All of the above 4/12 What are the benefits of globalized trade? Decreased consumer choice Reduced environment costs Lower prices for consumers Decreased competition 5/12 What is the primary benefit of foreign direct investment? Increased exports Revenue from taxation Technology transfer Influx of capital 6/12 How does the World Trade Organization impact globalization? Eliminates trade restrictions Sets tariffs on imports Decreases competition for local producers Raises wages for foreign workers 7/12 What is the purpose of the International Monetary Fund? To reduce international trade barriers To promote global economic cooperation To assist member countries experiencing balance of payment difficulties To protect the world economy from risks of currency devaluation 8/12 What is the purpose of the World Bank? To reduce international trade barriers To provide loans for development projects To assist member countries experiencing balance of payment difficulties To protect the world economy from risks of currency devaluation 9/12 What is the purpose of the World Trade Organization (WTO)? To reduce international trade barriers To provide loans for development projects To assist member countries experiencing balance of payment difficulties To protect the world economy from risks of currency devaluation 10/12 What is the purpose of the General Agreement on Tariffs and Trade (GATT)? To reduce international trade barriers To provide loans for development projects To assist member countries experiencing balance of payment difficulties To protect the world economy from risks of currency devaluation 11/12 What is the purpose of the Organization for Economic Co-operation and Development (OECD)? To reduce international trade barriers To provide loans for development projects To monitor foreign economic data To protect the world economy from risks of currency devaluation 12/12 What type of technology innovation has led to accelerated globalization? High speed air travel The internet New refrigeration methods Cellular telephones
