Globalization and Global Economy Flashcards
It suggests that following initial investment, countries would then set off on an evolutionary process in which they would progress up 5 stages of the development ladder which will take 60 years to reach modernization.
Walt Rostow’s theory of Modernization
This theory argues that liberal trade causes greater impoverishment, not an economic improvement, to less developed countries.
Dependency Theory
In this theory, the periphery remains economically dependent on the core in a number of ways; Poor nations tend to have few resources to export to rich countries.
Modern World Systems
This theory frames global stratification as a function of technological and cultural differences between nations.
Modernization theory
Solidity describes a world in which barriers exist and are erected to prevent the free movement of all sorts of things. All are examples of solidity, except:
All of the above are examples of Solidity
A policy of systematic government intervention in foreign trade with the objective of encouraging domestic production is called ________.
Protectionism
T or F : Philippines is the 2nd largest exporter of bananas in the world.
True
T or F : In sum, under the dependency theory, the problem is that there is lack of global wealth; that is why it is hard to distribute goods.
False
This refers to the current happenings in human society.
Contemporary World
T or F: It is better to experience the negative impacts of globalization rather than not to experience globalization at all.
True
T or F : Microcredit can help low-income households to stabilized their income flows and save for future needs.
True
When did the Protectionism started?
Mercantilist era
The event that heavily influenced the shifting of dominant economic policy from protectionism to trade liberalization.
World War 2
T or F : According to the cyclical perspective, globalization starts when a specific event happens like the COVID-19 pandemic.
False
It refers to the Transplanetary process(es) involving increasing liquidity and growing multi - directional flows as well as the structures they encounter and create.
Globalization
India practices what type of economy?
Protectionism
T or F : Exploitation and oppression of workers can be avoided with the help of economic and trade globalization.
True
Did the United Nation successfully eradicate extreme poverty and hunger.
Yes, but not entirely
Statement: All goods and services that the business in the country produce for sale can be an indicator of economic growth. Products are sold domestically can not be an indicator of economic growth because it is only consumed in the country, not overseas.
First statement is correct, Second is wrong
Statement: Time is of the essence why some “solids” “melt or “liquify”. And once the liquid phenomena “move”, they are difficult to stop.
Both statement is correct
T or F : NAFTA stands for North Atlantic Free Trade Association.
False
An imaginary linee used by China in their claim to the South China Sea.
Nine-dash-line
T or F : United States of America is not a pure capitalist society.
True
A metaphor that if one leaves a capitalist economy alone, consumers will regulate things themselves by selecting goods and services that provide the best value.
Invisible hands
T or F: Philippines is one of the big exporters of Nitrogen in the world.
False
Which is true about North American Neo-Marxist Approach.
All of the Above are true
T or F: Ever since Christopher Columbus discovered the Americas, people from America provides technology, education and medicines in Europe.
False
T or F: Economic and trade globalization is the result of companies trying to outmaneuver their competitors.
True
T or F: Martin Khor’s said that “Globalization is what we in the Third World have for several centuries called colonization”. His definition is a negative view of globalization.
True
What happens when a country practices a pure capitalist society?
The consumers will be the one to regulate the goods and services which would lead to monopoly.
