globalization

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School

Highland High School *

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Course

SOCIAL STU

Subject

Economics

Date

May 1, 2024

Type

pdf

Pages

2

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**Assignment: Globalization and International Trade** **Instructions:** 1. Review the prompt below carefully. 2. Choose one of the provided options for each question. 3. Write your selected answer on a separate sheet of paper or document. **Prompt:** Explore the impact of globalization on international trade, considering the opportunities and challenges it presents for economies around the world. Assess the role of multinational corporations, trade agreements, and technological advancements in shaping global trade patterns. Provide examples and evidence to support your arguments. **Questions:** 1. How does globalization influence international trade? - A. Globalization has no impact on international trade; trade patterns are determined solely by domestic factors. - B. Globalization leads to the isolation of economies and a decrease in international trade. - C. Globalization fosters increased interconnectedness between economies, leading to expanded international trade and investment. - D. Globalization primarily benefits developed countries and has little effect on international trade in developing economies. - E. Globalization results in the decline of international trade due to protectionist measures implemented by governments. 2. What role do multinational corporations (MNCs) play in shaping global trade patterns? - A. MNCs have no influence on global trade patterns; trade is solely determined by government policies and market forces. - B. MNCs facilitate global trade by establishing supply chains, investing in foreign markets, and promoting the exchange of goods and services across borders. - C. MNCs primarily focus on restricting global trade to protect their domestic markets from foreign competition. - D. MNCs contribute to the decline of international trade by advocating for protectionist measures and trade barriers. - E. MNCs have no interest in global trade and focus solely on domestic markets. 3. How do trade agreements contribute to globalization and international trade? - A. Trade agreements hinder globalization by restricting the flow of goods and services between countries. - B. Trade agreements promote globalization by facilitating the removal of trade barriers, such as tariffs and quotas, and promoting free trade among participating countries. - C. Trade agreements have no impact on globalization and international trade; trade patterns are determined by other factors.
- D. Trade agreements primarily benefit developed countries and disadvantage developing economies. - E. Trade agreements are irrelevant to globalization as they only focus on bilateral trade between two countries. **Answers:** 1. C 2. B 3. B **Note:** Analyze each question carefully before selecting your answer. This assignment evaluates your understanding of the impact of globalization on international trade and the roles of different factors in shaping global trade patterns.
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