Chapter 1

Question 1

Globalization

Answer 1

Refers to the shift toward a more integrated and interdependent world economy.

Question 2

United Nations (UN Charter

Answer 2

The equality and self-determination of nations. (Human Rights, Fundamental and the obligation of member countries to
obey the Charter)

Question 3

World Trade Organization (WTO)

Answer 3

Responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by WTO member states.

Question 4

International Monetary Fund

Answer 4

Countries are required to adopt specific policies aimed at returning their
troubled economies to stability and growth.

Question 5

List 2 Factors of Globalization

Answer 5

1. Decline in barriers
2. Technological Change

Question 6

Technological Change has made (5) ____ Easier

Answer 6

1. Globalization
2. Communication
3. Information Processing
4. Transportation
5. Emergence of the Internet and World Wide Web

Question 7

Examples of Technological Change in Transportation

Answer 7

1. Commercial jet aircraft
2. Super freighters
3. Shipping Containers

Question 8

What are the 3 facets of globalization?

Answer 8

1. Globalization of Markets
2. Globalization of Production
3. Globalization of Consumers