Unit 1

Question 1

is a process of expanding various sociocultural and socio- ecological processes from national to international and transcultural level (Al-Rodhan, 2006).

Answer 1

Globalization

Question 2

is a measurement of flows and interconnections of a country to other global players through exchanges in trade, capital, people, and information (Altman, et al., 2018)

Answer 2

Global Connected Index (GCI)

Question 3

is seen as the process that focuses on the movement of trade, capital, and ideas.

Answer 3

Globalization

Question 4

One of the factors that drive globalization is the reduction of ———-

Answer 4

trade barriers

Question 5

identified ———— as a key driver of globalization that facilitated faster communication and access to data or information. This further promoted the development of an information society (

Answer 5

modern technology developments

Question 6

This index measures the flow of trade, capital, information, and people across countries.

Answer 6

Global Connected Index (GCI)

Question 7

factors that drove globalization

Answer 7

lessen trade barriers and modern technology developments

Question 8

an idea of prescribed path to attain development through certain set of activities, according to a defined vision (Bellù, 2011)

Answer 8

Development paradigms

Question 9

is mainly conceptualized as intensified transference or exchange of things across

Answer 9

Globalization

Question 10

is primarily an economic process, the drive toward integration of economies throughout the world. This is achieved through trading and financial flows across countries’ borders

Answer 10

globalization

Question 11

is a complex global process of expanding the market economic system all throughout the world.

Answer 11

Economic globalization

Question 12

the economic system that gives freedom to entrepreneurs to control productive process to pursue profit, is just one kind of economic system designed by human societies

Answer 12

market economy

Question 13

Important aspects of globalization include?

Answer 13

global trading, capital flows, and movement of people

Question 14

enabled by international fiscal payments where private banks and the central banks of particular nations play important roles

Answer 14

International trading

Question 15

concerns importation and exportation

Answer 15

Global trading

Question 16

can be categorized as commercial loans, official flows, or foreign direct investment.

Answer 16

Foreign investment

Question 17

are money lent to foreign businesses or governments.

Answer 17

Commercial loans

Question 18

refer to development aid or money granted by rich countries to developing nations

Answer 18

official flows

Question 19

refers to buying or putting up a firm in a foreign country or contributing to the enhancement of an existing firm

Answer 19

Foreign direct investment

Question 20

businesses that operate in more than one country, primarily undertake foreign direct investment

Answer 20

Transnational corporations,

Question 21

refers to the increasing “contact between people and their cultures-their ideas, their values, their ways of life”

Answer 21

Cultural globalization

Question 22

is the enlargement of the international political system and its establishments, where inter-regional dealings, including trade, are managed

Answer 22

Political globalization

Question 23

Facilitate investment of capital for member countries
Fund large-scale projects by providing loans for member countries

Answer 23

World bank

Question 24

What organizations are responsible mainly for ensuring economic globalization

Answer 24

International Monetary Fund (IMF)
World Trade Organization (WTO)
World bank

Question 25

Provide short-term emergency loans.
Help bring enormous flow of foreign money through loans and speculative investment

Answer 25

International Monetary Fund (IMF)

Question 26

Create rules for global trade and investment
Aim to reduce tariffs
Create agreements for member countries regarding multilateral policies that push governments to relax regulations on environment, food safety, and product quality
Encourage countries to deregulate economies

Answer 26

World Trade Organization (WTO)

Question 27

aim to make sure that quicker and easier movement of products, capital, and trading between countries is achieved by implementing international policies, reforms, and agreements.

Answer 27

The World Bank, IMF, and the WTO

Question 28

is to reduce the control of government over businesses, making them more powerful in implementing their visions, goals, and operations.

Answer 28

deregulate businesses

Question 29

positive effect of globalization

Answer 29

increase income
more employment
less poverty