Features of Globalization - SS3 Economics Past Questions & Answers - page 1

1

Which of the following is a key feature of globalization?

A

 Increased trade and investment

B

Decreased cultural exchange

 

C

Technological regression

D

Reduced economic growth

CORRECT OPTION: a
2

What has facilitated the exchange of cultural ideas, values, and practices between people from different regions and countries?

A

Technological advancements

B

Economic growth

 

C

Environmental concerns

D

Decreased competition

CORRECT OPTION: a
3

What is a possible challenge brought about by globalization?

A

Increased trade and investment

B

Reduced environmental concerns

C

Decreased competition

CORRECT OPTION: d
4

What impact has globalization had on businesses?

A

Decreased competition

B

Reduced access to larger markets

C

Increased competition from companies based in other countries

 

D

Increased access to larger markets

CORRECT OPTION: c
5

Which of the following is NOT a feature of globalization?

A

Technological advancements

B

Cultural exchange

 

C

Economic stagnation

D

Increased competition

CORRECT OPTION: c
6

Define globalization in simple terms.

Globalization is the process of increasing interconnectedness and interdependence between people, businesses, and nations around the world.

7

What are the two benefits of globalization?

Examples of benefits of globalization include economic growth and increased competition:

  • Economic growth: Globalization has led to economic growth in many countries, as businesses have access to larger markets and consumers have access to a wider range of goods and services.

  • Increased competition: With the opening up of global markets, businesses face more competition from companies based in other countries.

 

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