global economy

Question 1

give 7 millennium development goals

Answer 1

1. having a global partnership for development
2. achieving universal primary education
3. improving maternal health
4. promoting gender equality and women empowerment
5. combating disease like HIV/AIDS and malaria
6. ensuring environmental sustainability
7. reducing child mortality
8. poverty

Question 2

A condition characterized by severe deprivation of basic human needs including food, safe drinking water, sanitation facilities, health, shelter, education, and information.

Answer 2

poverty

Question 3

people in absolute poverty makes how much money per day?

Answer 3

$ 1.25

Question 4

IN THE
PHILIPPINES . . . A person is officially living in poverty if he makes

Answer 4

100, 356 pesos or 275 per day

Question 5

The grates contribution why extreme
poverty is falling,

Answer 5

economic globalization

Question 6

The world’s economies have become more interconnected and free trade has driven the growth of many developing economies.

Answer 6

economic globalization

Question 7

The process or system by which goods
and services are produced, sold, and
bought in a country or region.

Answer 7

economy

Question 8

system of production, distribution, and consumption

Answer 8

economy

Question 9

It refers to the increasing interdependence of world economies as
result of the growing scale of cross border trade of commodities and services, flow of international capital, and wide and rapid spread of technologies.

Answer 9

global economy

Question 10

A policy of systematic government intervention in foreign trade with the
objective of encouraging domestic production.

Answer 10

protectionism

Question 11

It is the removal or reduction of restrictions or barriers on the free
exchange of goods between nations.

Answer 11

trade liberalization

Question 12

Countries being accused of practicing protectionism

Answer 12

Japan, China, USA

Question 13

It is the concern for the social, economic, and environmental well-being of marginalized small producers.

Answer 13

Fair Trade

Question 14

Trade protectionism comes in
forms of tariffs and quotas.

Answer 14

Protectionism

Question 16

how to measure economic growth? It takes into account the country’s entire
economic output. It includes all goods and services that businesses in the country produce for sale. It doesn’t matter whether they are sold domestically or overseas

Answer 16

GDP or Growth Domestic Product

Question 17

COMPUTING GDP: GDP = private consumption + gross investment + government investment + government spending + (exports – imports)

Answer 17

true

Question 18

an increase in the amount of goods and services produced per head of the population over a period of time

Answer 18

economic growth

Question 19

refers to a system by which
a society ranks categories
of people in a hierarchy.

Answer 19

stratification

Question 20

the result of companies trying to outmaneuver their competitors

Answer 20

economic and trade globalization

Question 21

refers to the spread of goods, tech, education, and diseases between the Americas and Europe after Christopher Columbus’s so called discovery of the Americas

Answer 21

columbian exchange

Question 22

an increase in one economic activity can lead to an increase in other economic
activities

Answer 22

multiplier effect

Question 23

a Bangladeshi professor won the Nobel Peace Prize: He gave small loans, on average around $100, to low income people in rural areas.

Answer 23

muhamad Yunus

Question 24

BUT WHY DID THE INDUSTRIAL REVOLUTION NOT TAKE HOLD ANYWHERE?

Answer 24

The theory argues that the tension
between tradition and technological
change is the biggest barrier to growth.

Question 25

What your parents do is what your parents did, and what you will do when you grow up too

Answer 25

traditional

Question 26

Greater individualism takes hold
and social status is more closely
linked with material wealth

Answer 26

take off

Question 27

The freedom to prosper within a
country without intervention from a government or economic authority.
Individuals are free to secure and
protect his/her human resources,
labor and private property. Economic
freedom is common in capitalist
economies and must incorporate
other civil liberties to be deemed as
truly free

Answer 27

economic freedom