3.1 Market Integration

Question 1

occurs when markets follow similar patterns for a long period of time.

Answer 1

market integration

Question 2

market integration fosters what?

Answer 2

competition

Question 3

brought experimentation with new crops

Answer 3

agricultural revolution

Question 4

a fundamental change in the way goods are produced

Answer 4

industrial revolution

Question 5

a more efficient means of production

Answer 5

industrial revolution

Question 6

did the industrial revolution cause pollution?

Answer 6

yes

Question 7

did the industrial revolution cause over-population?

Answer 7

yes

Question 8

this revolution describes current trends

Answer 8

information revolution

Question 9

this revolution is significant to people’s lives

Answer 9

info revolution

Question 10

this is inseparable to globalization

Answer 10

global corporations

Question 11

to locate the phenomenon itself in early trade patterns

Answer 11

historical globalization

Question 12

after ww2, economic recovery and expansion were led by?

Answer 12

american corporations

Question 13

contemporary global corp is commonly referred to as?

Answer 13

Transnational corp, multinational corp

Question 14

they are importers and exporters, no investments outside their country

Answer 14

international companies

Question 15

they have investments outside their country but no coordinated product offerings

Answer 15

multinational companies

Question 16

this corp produces or delivers services in more than one country

Answer 16

multinational

Question 17

this corp does not identify itself with one national home

Answer 17

transnational

Question 18

MNCs and TNCs can have larger revenues than some countries ___.

Answer 18

GDP

Question 19

3 structural periods according to Geriffe

Answer 19

investment based, trade based, digital based

Question 20

investment based lasted from? to?

Answer 20

1950-1970

Question 21

trade based lasted from? to?

Answer 21

1970-1995

Question 22

digital based lasted from?

Answer 22

1995- onwards

Question 23

first phase of globalization started from? to?

Answer 23

1830-1880

Question 24

in this phase, railroads, ocean transport and trading companies became widespread

Answer 24

first phase

Question 25

what was invented in the first phase

Answer 25

telephone and telegraph

Question 26

second phase began when?

Answer 26

1900s

Question 27

second phase was caused by the rise of?

Answer 27

steel and electricity production

Question 28

the phase reached its height just before what?

Answer 28

the great depression 1929

Question 29

the most industrialized region in 1900s?

Answer 29

western europe

Question 30

third phase when?

Answer 30

1948-1970s

Question 31

which country was least harmed by ww2?

Answer 31

US

Question 32

to reduce international trade barriers, what was made?

Answer 32

general agreement on tariffs and trade

Question 33

GATT was the precursor to?

Answer 33

world trade organization

Question 34

4th phase began?

Answer 34

1980s

Question 35

this phase witnessed enormous growth in cross border trade

Answer 35

fourth phase

Question 36

is when a company owns another company in a different country

Answer 36

Foreign direct investment

Question 37

date of major turning point for FDI

Answer 37

1960

Question 38

BRIC stands for

Answer 38

brazil, russia, india, china

Question 39

BRIC believes they will be dominant suppliers in the future. true or false?

Answer 39

true