Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

CONTEMPORARY WORLD midterm > globalization - market integration > Flashcards

globalization - market integration Flashcards

(65 cards)

Start Studying
1
Q

the two premises of globalization

A

It is a complex phenomenon that occurs in multiple levels.
It is an uneven process that affects people differently.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Define globalization as The Third World Network

A

seen globalization as colonization of the developing world

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

True or false
Globalization is decreasing interdependence of national economies in trade, finance, and macroeconomic policy.

A

False
Globalization is increasing interdependence of national economies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

True or false
Globalization is a process fueled by and resulting in increasing cross-border flows of goods, services, money, people, information, and culture.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

This refers to all those processes by which the peoples of the world are incorporated into a single world society, global society.

A

Globalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Globalization can be defined as the _______of worldwide social relations which link localities in such a way that local happenings are shaped by events occurring many miles away and vice versa.

A

Intensification of worldwide social relations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Internationalisation - ______ is described as cross-border relations between countries

A

Global

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Internationalization - ______ incomes a growth of international exchange and interdependence.

A

Globalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities.

A

Economic Liberalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Liberalization - _______ means a process of removing state and post restrictions on a movements between countries in order to create an open borderless world economy

A

Globalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Is viewed as standardization and homogenization with worldwide cultural, economic, legal, and political convergence

A

Globalization as universalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

This social structure of modernity like capitalism, rationalism, industrialism, bureaucratism, individualism, and so on are spread the world over normally destroying earlier existing cultures and local self-determination in the process.

Globalization understood in this way is often interpreted as:

A

Colonization, americanization, and “westtoxication”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

the removal or reduction of restrictions or barriers on the free exchange of goods between nations

A

Liberalization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

technological innovation and organizational change centered on

A

FLEXIBILITY AND ADAPTABILITY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

he describes the current trend as the third great wave of globalization in human history

A

Thomas Friedman

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

the third wave of globalization from _______ to present expanded an earlier efforts to liberalize international trade and investment

A

1980s to present

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

the third wave continued to harness new technologies as a means to ______

A

integrate global economic activity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

the advantages of globalization

A

GLOBAL MARKET
CROSS-CULTURAL MANAGEMENT COMPETITION
JOB OPPORTUNITY
REDUCING THE GAP BETWEEN THE POOR
INVESTMENTS
ADVANCED TECHNOLOGY
LEGAL EFFECTS
STABLE SECURITY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

the disadvantages of globalization

A

TERRORISM
JOB INSECURITY
PRICE INSTABILITY
PRICE FLUCTUATIONS ENVIRONMENTAL DAMAGE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

They are capitalist countries that exploit peripheral countries for cheap labor and raw materials.

A

Core Countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

The World Systems Theory was articulated in large part by

A

Immanuel Wallerstein

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

argued that in economics there are three types of economic nations - the core, the semi-periphery, and the periphery.

A

Immanuel Wallerstein

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

_______ countries, which have cheap labor and are generally impoverished

A

Peripheral Countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

________ countries, which sometimes exploit other countries but are sometimes exploited themselves

A

Semi-peripheral Countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
"operate outside of the world system"
External States
26
World systems theory developed out of
Dependency Theory
27
this comment in describes global as cross-border relations between countries and globalization and cons a growth of international exchange and interdependence
INTERNATIONALISATION
28
this common theme is viewed as standardization and homogenization with worldwide cultural economic legal and political convergence.
UNIVERSALIZATION
29
the common themes of globalization
UNIVERSALIZATION LIBERALISATION INTERNATIONALISATION WESTERNIZATION
30
3 subcategories of Globalization
Economic Cultural Political
31
the only international organization dealing with the global roles of trade
WTO
32
its main function is to ensure that trade flows as smoothly and freely as possible
WORLD TRADE ORGANIZATION
33
if prices among different location or related goods follow the same pattern over a long period of time,then _____ exists
Market Integration
34
the indicator how much different market are related to each other
Market Integration
35
International Financial Institutions are chartered by more than one country and therefore are subjects to _______
International Law
36
TRUE OR FALSE Most of the prominent IFI's are creations of only independent nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIS.
False Most of the prominent IFI's are creations of MULTIPLE NATIONS, although some bilateral financial institutions (created by two countries) exist and are technically IFIS.
37
it is an organization of 190 countries
International Monetary Fund
38
it is an international organization headquartered in Washington DC
International Monetary Fund
39
Multilateral Development Banks:
World Bank Group African Development Banks Asian Development Banks Inter-American Development Banks European Bank for Reconstruction and Development
40
a family of 5 international organizations that make leverage loans to the developing countries
World Bank Group
41
Philippines belong to ___ countries
Developing countries
42
international organization dedicated to providing financing advice and research to developing nations to aid their economic advancement.
World Bank Group
43
predominantly acts as organization tempts to fight poverty by offering developmental assistance to middle and low income countries
World Bank Group
44
THE FOUR FUNCTIONAL BODIES OF THE WORLD BANK GROUP
- THE INTERNATIONAL DEVELOPMENT ASSOCIATION - THE MULTILATERAL INVESTMENT GUARANTEE AGENCY - INTERNATIONAL CENTER FOR SETTLEMENT OF INVESTMENT DISPUTES
45
formula known as the international bank for reconstruction and development
WORLD BANK
46
it was created to offer econom assistance to war ravaged economies of europe and asia and later on the four countries of the world
WORLD BANK
47
what is the main function of world bank
to provide loan services to member governments provide development loans of on soft terms to poor member nations provide support to private or joint sector projects provide insurance guarantees to foreign investors set investment related disputes among members nations through conciliation or arbitration
48
immediately after world war 2 the usa invited its trading partners to negotiate less stringent restrictions which resulted in the general agreement on tariffs and trades (GATT), an international treaty adopted in 1947 by 23 countries
WORLD TRADE ORGANIZATION
49
it is an international treaty adopted in 1947 by 23 countries
GENERAL AGREEMENT ON TARIFFS AND TRADES (GATT)
50
disagreement resulted in thousands of tariff reductions and in 1995 was transformed into the World Trade Organization
THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)
51
the invitation of the usa to negotiate less stringent restrictions resulted in _____
THE GENERAL AGREEMENT ON TARIFFS AND TRADE
52
World Trade Organization, and International Monetary Fund are the direct results of what system
Bretton Woods System
53
it is an autonomous organization affiliated to the UN
international monetary fund
54
THE THREE MAJOR INTERNATIONAL FINANCIAL INSTITUTIONS (IFIs)
WORLD TRADE ORGANIZATION INTERNATIONAL MONETARY FUND WORLD BANK
55
WORLD BANK IS FORMERLY KNOWN AS
THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
56
it is an international and intergovernmental institution for providing long-term loans on easy terms for specific developmental projects
WORLD BANK
57
the two types of market integration
positive integration negative integration
58
this refers to the reducing of non tariff and tariff barriers to trade as a main tool for integrating markets
negative integration
59
this refers to the adjusting of domestic policies and institutions through the creation of supranational agreement
positive integration
60
the five forms of economic integration
PREFERENTIAL AGREEMENT FREE TRADE AREA CUSTOMS UNION COMMON MARKET ECONOMIC UNION
61
this form of market integration refers to the trade barriers between those countries which signed the agreement it can be in their form of tariff reductions for unlimited volumes or imports from specific countries or for specified import qualities
PREFERENTIAL AGREEMENT
62
this form of economic integration reduces trade barriers among member countries to ZERO
FREE TRADE AREA
63
this form of economic integration takes a higher form of economic integration where countries agree to abolish the rest and non-tariff barriers to trade in goods flowing between them
CUSTOMS UNION
64
this form of economic integration represents free movement of labor and capital within the member countries
COMMON MARKET
65
this is the highest form of economic integration agreeing to a common market, monetary fiscal and other policies among member countries
ECONOMIC UNION

CONTEMPORARY WORLD midterm (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions