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CONTEMPORARY > TEST > Flashcards

TEST Flashcards

1
Q
  • The transfer of ownership, property or business from the government to the private sector.
A

PRIVATIZATION

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2
Q
  • This involves the reduction of trade barriers such as tariffs, quotas, and other restrictions promoting the free flow of goods and services across borders.
A

LIBERALIZATION

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2
Q

WHAT ARE THE THREE INSTITUTION THAT WERE CREATED DURING THE BRETTON WOODS CONFERENCE?

A
  • International monetary fund
  • World bank
  • General agreement on tariffs and trade
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3
Q

In industrial settings, who use their imagination to find and solve difficult problems?

A
  • Entrepreneurs
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3
Q

This refers to the transfer of ownership, property, or business from the government to the private sector.

A

PRIVATIZATION

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4
Q

What is the meaning of UNCTAD?

A
  • United Nations Conference on Trade and Development.
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5
Q

This is about the extension of economic activities of nation-states across borders.

A

INTERNATIONALIZATION

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5
Q

A bank that actively supports its member countries and collaborates with partners through a multifaceted approach.

A

WORLD BANK (not sure)

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5
Q

This is considered by some economists, a rare, and extreme form recession.

A

DEPRESSION

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5
Q

A corporation that operates both in its native nation and in other countries across the world.

A

MULTINATIONAL CORPORATION (NOT SURE)

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6
Q

WHAT IS THE MEANING OF OECD?

A
  • Organization for Economic Cooperation and Development.
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7
Q

The American sociologist who was developed the World System Theory.

A

IMMANUEL WALLERSTEIN

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8
Q

Who was the economist who imagined that IMF would be a cooperative fund upon which members could draw to maintain economic activity and employment through economic crises.

A

JOHN MAYNARD KEYNES

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9
Q
  • A situation in which separate markets for the same product become one single market.
A

HORIZONTAL INTEGRATION

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9
Q
  • A combination of agencies or activities not directly related to each other.
A

CONGLOMERATION INTEGRATION

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10
Q

WHAT IS THE MEANING OF AFDB?

A
  • African Development Bank
10
Q
  • Formerly known as the United Nations Monetary and Financial Conference.
A

BRETTON WOODS CONFERENCE

10
Q
  • It is also the system of trade and industry across the world that has emerged due to globalization.
A

GLOBAL ECONOMY

10
Q
  • It refers to the network of laws, regulations, and agreements that govern the international exchange of commodities and services.
A

WORLD TRADE ORGANIZATION

10
Q
  • Goods that are mass-produced and can be made from multiple factories.
A

COMMODITY GOODS (not sure)

11
Q
  • At financial institution that is designed to finance projects that enhance the economic development of member states, provides technical assistance and policy advice, and supervises on behalf of international creditors.
A

THE WORLD BANK

12
Q
  1. Globalization encourages and increases interactions between different regions and populations around the world.
A
  • TRUE
12
Q
  1. The Philippine is considered a core nation.
A
  • FALSE
12
Q
  1. A member quota determines its minimum financial commitment to IMF voting power, and access to IMF financing.
A
  • TRUE
12
Q
  1. Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference.
A
  • TRUE
13
Q
  1. A horizontal integration is a combination of agencies not directly related to each other.
A
  • FALSE
14
Q
  1. The laws and regulations limiting who can enter a business and what prices they can charge are called economic regulations.
A
  • TRUE
14
Q
  1. The purpose of the Bretton Woods Conference was to promote the stability of exchange rates and financial flows.
A
  • TRUE
15
Q
  1. Cultural knowledge and adaptability are essential for successful foreign business operations.
A
  • TRUE
16
Q
  1. A Joint Statement by Experts on the Establishment of an International Monetary Fund was published on April 21, 1954.
A
  • FALSE
17
Q
  1. Globalization alters the way governments, businesses, and people interact.
A
  • TRUE
17
Q
  1. There is no economy that functions completely isolated from other economies.
A
  • TRUE
18
Q
  1. Periphery was described as the high-income nations of the world economy.
A
  • FALSE
19
Q
  1. A transitional corporation is a firm that operates globally with its own management decision- making body.
A
  • FALSE
20
Q
  1. People from varied backgrounds, perspectives, and cultures are becoming more acquainted as a result of globalization.
A
  • TRUE
20
Q
  1. Globalization is widely recognized as remarking the traditional social structures that transform the reality of people in every corner of the world.
A
  • TRUE

CONTEMPORARY (8 decks)

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