Group 1 - 4

Question 1

Is the process by which economies, societies, cultures, and politics become more interconnected and integrated across national borders.

Answer 1

Globalization

Question 2

This network of trade routes connected Europe, Africa, and Asia and the facilitated the exchange of goods, technologies, and ideas.

Answer 2

Silk Road

Question 3

In the 18th and 19th centuries led to the emergence of global markets and increased trade between Europe, America, and Asia.

Answer 3

Industrial Revolution

Question 4

International organizations

Answer 4

Aimed to promote economic cooperation and development between countries.

Question 5

Are the interconnected systems enabling the global of goods, services, capital, and people.

Answer 5

Structures of Globalization

Question 6

Refers to the fragmentation of production processes across different countries and the increasing internationalization of production.

Answer 6

Globalization of Production

Question 7

This refers to the practice of contracting out specific business processes or functions to external service providers, typically in other countries.

Answer 7

Outsourcing

Question 8

This refers to the practice of relocating a part or all of a company’s production processes to another country, typically to take advantage of lower labor cost or other factors such as favorable tax laws or regulation

Answer 8

Offshoring

Question 9

Refers to the process where companies expand their operations beyond their domestic market and operate in multiple countries around the world.

Answer 9

Globalization of Corporation

Question 10

Refers to a company or corporation that operates in more than one country which has significant investments and facilities in multiple countries and is usually headquartered in one country.

Answer 10

Global Corporation

Question 11

A more general term that can refer to any type of business that operates internationally, whether it is a corporation, a small business, or a sole proprietorship.

Answer 11

Global Business

Question 12

Refers to the spread of technological innovations and advances across national borders.

Answer 12

Globalization of Technology

Question 13

Refers to the movement of people across national borders in search of employment opportunities.

Answer 13

Globalization of Labor

Question 14

Refers to the increasing interconnectedness of markets across national borders.

Answer 14

Globalization of Markets

Question 15

Refers to the flow of capital and corporate investments between various countries.

Answer 15

Globalization of Finance

Question 16

Refers to the spread of management practices, organizational structure, and standards across national boundaries.

Answer 16

Globalization of Organizational Regimes

Question 17

Refers to the process of bringing different regional or national markets together to from a single, larger market that is more efficient, effective and competitive.

Answer 17

Market Integration

Question 18

Is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company.

Answer 18

Vertical Integration

Question 19

Is a business strategy in which one company grows its operations at the same level in an industry.

Answer 19

Horizontal Integration

Question 20

Is a form of vertical integration in which a company expands its role to fulfill tasks formerly completed by businesses up the supply chain.

Answer 20

Backward Integration

Question 21

Happens when a business improves its production cycle by taking control of all the stages in the supply chain to create its product. It takes place inside of the distribution channel.

Answer 21

Forward Vertical Integration

Question 22

Any merger that is not horizontal or vertical; in general, it is the combination of firms in different industries or firms operating in different geographic areas.

Answer 22

Conglomerate Merger

Question 23

Year of the creation of the German Customs Union, or Zollverein.

Answer 23

1834

Question 24

Year where regional trade agreements were formed, including the Benelux Customs Union(Belgium, Netherlands, and Luxembourg) and the Scandinavian Monetary Union(Denmark, Norway, and Sweden).

Answer 24

Late 19th and early 20th centuries

Question 25

Year where Six European countries formed the European Coal and Steel Community (ECSC), which was designed to create a common market for these key industrial commodities.

Answer 25

1951

Question 26

Expanded to include other goods and services, leading to the formation of the European Economic Community (EEC)

Answer 26

1957