GLOBAL MARKET

Question 1

The process of unifying separate markets into a single global marketplace

Answer 1

Market integration

Question 2

• Increased interconnection between national economies.
• Driven by trade, investment, and the role of international financial institutions

Answer 2

MARKET INTEGRATION

Question 3

3 KEY INTERNATIONAL FINANCIAL INSTITUTIONS

Answer 3

1. International Monetary Fund (IMF)
2. World Bank
3. World Trade Organization (WTO)

Question 4

Stabilizes international exchange rates and facilitates global monetary cooperation

Answer 4

International Monetary Fund (IMF)

Question 5

Provides financial and technical assistance for development projects to reduce poverty

Answer 5

World Bank

Question 6

Facilitates international trade by regulating and promoting free trade agreements

Answer 6

World Trade Organization (WTO)

Question 7

The beginnings of market integration during the colonial era and industrial revolution

Answer 7

Pre-20th Century

Question 8

World War I and II disrupted markets, but post-WWII efforts created new global structures (e.g., Bretton Woods).

Answer 8

Early 20th Century

Question 9

1. 1944 Bretton Woods Conference: Established IMF, World Bank, and set the foundation for global trade.
2. Formation of GATT in 1947 (later WTO in 1995), leading to the reduction of trade barriers and tariffs.
3. The rise of multinational corporations and increased cross-border investments.

Answer 9

Post WWII Integration

Question 10

What established the IMF, World Bank, and set the foundation for global trade

Answer 10

1994 Bretton Woods Conference

Question 11

What lead to the reduction of trade barriers and tarrifs

Answer 11

Formation of GATT in 1947 (later WTO in 1995)

Question 12

1. Expansion of free trade agreements (e.g., NAFTA in 1994, the European Union’s single market).
2. Globalization’s acceleration with technological advancements and the digital revolution.

Answer 12

Late 20th Century

Question 13

5 Key characteristics/attributes of Global Corporations

Answer 13

1. Global reach
2. Supply Chains
3. Market Dominance
4. Innovations
5. Responsibility

Question 14

5 Key characteristics/attributes of Global Corporations: Operations in
multiple countries with a centralized headquarters (e.g., Apple, Toyota)

Answer 14

Global reach

Question 15

5 Key characteristics/attributes of Global Corporations: Complex global supply chains that span several countries for manufacturing, sourcing, and distribution

Answer 15

Supply Chains

Question 16

5 Key characteristics/attributes of Global Corporations: Significant influence over global markets and the ability to shape industry trends

Answer 16

Market Dominance

Question 17

5 Key characteristics/attributes of Global Corporations: Continuous investment in research and development to maintain competitiveness

Answer 17

Innovation

Question 18

5 Key characteristics/attributes of Global Corporations: Corporate social responsibility (CSR) efforts, including sustainability and ethical practices

Answer 18

Responsibility

Question 19

3 Key Drivers of Market Integration

Answer 19

1. Technological Advancement
2. Trade Liberalization
3. Financial Market

Question 20

2 impacts of Global Corporations on Market Integration

Answer 20

1. Economic Influence
2. Social and Environmental Impacts

Question 21

3 challenges to Market Integration

Answer 21

1. Global Inequality
2. Economic Dependencies
3. Global Governance

Question 22

• Unequal distribution of benefits, with wealth concentrated in developed nations and corporations.
• Exploitation of labor in developing nations due to differences in regulations.

Answer 22

Global Inequality

Question 23

The risk of economic instability when too reliant on global supply chains, highlighted by the COVID-19 pandemic

Answer 23

economic dependencies

Question 24

The need for better international governance to ensure fair trade practices and global economic stability

Answer 24

Global governance