Meanings

Question 1

Ways of transport/travelling

Answer 1

Caravan, Horses, Mules, Donkeys

Question 2

Items traded along the silk road

Answer 2

Silk, Ivory, Tea, Spices, Cotton

Question 3

Trade Network

Answer 3

Facilitated the exchange of goods like silk, spices etc

Question 4

Religious Spread

Answer 4

Introduced and Influenced and spread religions like Christianity, Islam, Buddhism

Question 5

Cultural exchange

Answer 5

Shared languages, religions, art, customs etc

Question 6

Trade defecit

Answer 6

When a country’s imports exceed its exports during a specific period

Question 7

Export

Answer 7

Export refers to the act of selling goods or services produced in one country or another

Question 8

MEDC

Answer 8

More economically developed country

Question 9

NIC

Answer 9

Newly Industrialized Country

Question 10

Examples of MEDC

Answer 10

United States, Japan, Germany

Question 11

Examples of NIC

Answer 11

South Korea, Taiwan, Mexico

Question 12

Globalization

Answer 12

The interconnectedness of communities worldwide

Question 13

Formulate a research question

Question 14

Interconnectedness

Answer 14

Interconnectedness can lead to various positive things

Question 15

Example of interconnectedness

Answer 15

Increased interconnectedness leads to greater exchange

Question 16

Solutions to globalization

Answer 16

The exchange of ideas and technology

Question 17

Globalization leads to

Answer 17

Economic growth by opening up new markets, increasing trade

Question 18

Trade barriers

Answer 18

Any regulation/Policy that restricts International trade

Question 19

Trading blocs

Answer 19

An agreement made between countries to trade

Question 20

Trade

Answer 20

The action of buying and selling goods and services

Question 21

Trading organization

Answer 21

A business or an institution that is primarily engaged in the act of trading

Question 22

Tariffs

Answer 22

Taxes on imported goods or service

Question 23

Quotas

Answer 23

The limit on the quantity or value of a goods service that can be imported into a country

Question 24

Subsidy

Answer 24

Any financial support provided by the government to domestic producers

Question 25

Import

Answer 25

Buying goods and services outside your country

Question 26

Examples of Imports

Answer 26

Cars, gas, oil, clothing and computers

Question 27

Free trade

Answer 27

Economic policy allowing unrestricted international exchange

Question 28

Fair trade

Answer 28

Ethical business giving fair pay/wages safe jobs to producers

Question 29

Digital revolution

Answer 29

The modern digital world: how we communicate, shop, live (CHANGE)

Question 30

Examples of digital devices

Answer 30

Landline to Phone to Smartphoen

Question 31

Digital Divide

Answer 31

The unequal access to digital technology based on wealth, location

Question 32

Ethical trade

Answer 32

A system of trade that prioritizes fair practices, respects workers right, and minimizes environmental impact

Question 33

Advantages of TNC

Answer 33

Tnc create jobs, bring investment and can provide access to global markets

Question 34

Disadvantages of TNC

Answer 34

They lack ability because they can exploit labor, create dependency

Question 35

LEDC Examples

Answer 35

Afghanistan, Senegal, Somalia