L2

Question 1

The widespread use of international trade in goods, services, capital, technology, and information

Answer 1

Economic Globalization

Question 2

refers to the international exchange of goods and services that is expressed in monetary units of money. It may also mean the free movement of goods, capital, services, technology, and information.

Answer 2

Global economy

Question 3

characterized by the increasing interconnectedness and interdependence of economies worldwide, has become a defining feature of the contemporary world.

Answer 3

Global economic integration

Question 4

Factors in global economic integration

Answer 4

trade liberalization, financial flows, technological advancements, and geopolitical dynamics

Question 5

This topic explores the challenges and opportunities associated with global economic integration, considering factors such as trade liberalization, financial flows, technological advancements, and geopolitical dynamics

Answer 5

Economic Globalization

Question 6

are defined by the existence of a division of labor

Answer 6

World-systems

Question 7

The modern world-system has a __________________________________ and therefore its division of labor is __________________________.

Answer 7

multi- state political structure (the interstate system), international division of labor

Question 8

The modern world-system has a __________________________________ and therefore its division of labor is __________________________.

Answer 8

multi- state political structure (the interstate system), international division of labor

Question 9

is based on the theory of Wallerstein (1974), which posited that the global economy is divided into the core, semi-periphery, and periphery

Answer 9

The modern world system

Question 10

is based on the theory of Wallerstein (1974), which posited that the global economy is divided into the core, semi-periphery, and periphery

Answer 10

The modern world system

Question 11

is the center of economic activities
where most of the population lives and economic institutions and services are based.

Answer 11

The core

Question 12

However, majority of the raw materials and productions are done or sourced out in ___________?

Answer 12

the periphery

Question 13

However, majority of the raw materials and productions are done or sourced out in ___________?

Answer 13

the periphery

Question 14

serve as distributors or add value to the raw materials
by processing them for the core area

Answer 14

The semi-periphery areas

Question 15

capitalist nations

Answer 15

Semi-peripheral nations

Question 16

Capitalists nations/ highly developed (export finished products)

Answer 16

Core nations

Question 17

developing nations (struggling and exploited nations) export raw materials

Answer 17

Peripheral nations

Question 18

plays a pivotal role in shaping the contemporary world and influencing the economic landscape of nations. In this era of increasing interconnectivity and globalization, countries like the Philippines are intricately linked to the global economic system.

Answer 18

The global economy

Question 19

Understanding the dynamics of the global economy and its impact on the Philippines is crucial for policymakers, businesses, and individuals alike. True or False?

Answer 19

True

Question 20

__________________?, an archipelago located in Southeast Asia, has emerged as one of the fastest-growing economies in the region. With a population of over ____________ and _________________________?

Answer 20

The Philippines, 110 million, a strategic
geographical location

Question 21

holds immense potential for economic growth and development

Answer 21

The Philippines

Question 22

The country’s integration into the global economy has been facilitated by factors such as?

Answer 22

trade liberalization, foreign direct investment, and participation in regional economic initiatives.

Question 23

Key elements of global economic structure:

Answer 23

A. International Monetary Fund (IMF)
B. World Bank (WB)
C. World Trade Organization (WTO)
D. Regional Trade Agreements (RTAs)
E. Multinational Corporations (MNCs)

Question 24

While globalization has ancient roots, the modern era, especially post-World War II, has seen an unprecedented acceleration due to ???

Answer 24

technological advancements, trade agreements, and multinational corporations

Question 25

While globalization has ancient roots, the modern era, especially post-World War II, has seen an unprecedented acceleration due to ???

Answer 25

technological advancements, trade agreements, and multinational corporations

Question 26

refers to the global economic under that emerged after the end of World War II in 1945.

Answer 26

The Post-World War II system

Question 27

This period witnessed significant changes in economic policies, international trade, and financial institutions, shaping the global economy for decades to come.

Answer 27

End of World War II in 1945

Question 28

- established in 1944 at the United Nations Monetary and Financial Conference held in ________________, __________________, aimed to promote international economic stability. - This system facilitated the reconstruction and recovery of war-torn countries, as well as the expansion of international trade.

Answer 28

The Bretton Woods system Bretton Woods, New Hampshire

Question 29

refer to the framework and arrangements that governs international economic interactions and shape the global economy. These structures encompass **institutions, agreements, and systems that facilitate global trade, finance, investment, and economic cooperation**.

Answer 29

Structures of Global Economy or Global economic structures

Question 30

- is an international financial institutions established in 1944 as part of the Bretton Woods system. - provides financial assistance and policy advice to member countries, monitors global economic developments, and facilitates international monetary cooperat

Answer 30

International Monetary Fund (IMF)

Question 31

is an international development organization owned by 189 countries. Its role is to reduce poverty by lending money to the governments of its poorer members so that they can improve their economies and the standard of living of their people.

Answer 31

The World Bank

Question 32

Since _____ , the World Bank has funded over______ development projects via traditional loans, interest-free credits, and grants

Answer 32

1947, 12,000

Question 33

The World Bank is composed of Five institutions that work together to promote economic development and reduce poverty. These institutions are?

Answer 33

1. International Bank for Reconstruction and Development (IBRD) 2. International Development Association (IDA) 3. International Finance Corporation (IFC) 4. Multilateral Investment Guarantee Agency (MIGA) 5. International Centre for Settlement of Investment Disputes (ICSID)

Question 34

– is the original and largest destination within the World Bank Groups. - It provide loans and development assistance to idle-income and creditworthy low-income countries. - focuses on financing development projects and programs that aim to reduce poverty and promote sustainable economic growth.

Answer 34

International Bank for Reconstruction and Development (IBRD)

Question 35

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Answer 35

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Question 36

– is the part of the World Bank Group that focuses on providing financial support to the world’s poorest countries. - It offers grants and low-interest or zero interest loans to low-income countries that often face significant development challenges.

Answer 36

International Development Association (IDA)

Question 37

– is the institution within the World Bank Group that promotes private sector investment in developing countries. - It provides investment financing and advisory services to private companies, aiming to support sustainable private sector development, job creation, and economic growth.

Answer 37

International Finance Corporation (IFC)

Question 38

– provides political risk insurance and credit enhancement to investors and lenders in developing countries. - It helps promote foreign direct investment by offering guarantees against non-commercial risks, such as expropriation, breach of contract, and political violence.

Answer 38

Multilateral Investment Guarantee Agency (MIGA)

Question 39

– is an arbitration institution that provides a forum for resolving investment disputes between foreign investors and host countries. - It offers a neutral and impartial platform for settling disputes through arbitration and conciliation procedures

Answer 39

International Centre for Settlement of Investment Disputes (ICSID)

Question 40

– is an arbitration institution that provides a forum for resolving investment disputes between foreign investors and host countries. - It offers a neutral and impartial platform for settling disputes through arbitration and conciliation procedures

Answer 40

International Centre for Settlement of Investment Disputes (ICSID)

Question 41

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Answer 41

Together, these five institutions form the World Bank Group, working in collaborations to address development challenges, support economic growth, and reduce poverty in both middle-income and low-income countries

Question 42

– is an international organization that oversees global trade rules and resolves trade disputes among members countries. - It aims to promote free and fair trade by reducing trade barriers, negotiating trade agreements, and providing a platform for trade discussions

Answer 42

World Trade Organization (WTO)

Question 43

– are agreements between countries or regions that aim to facilitate trade and economic cooperation within a specific geographic area. Examples include the European Union (EU), North American Free Trade Agreement (NAFTA), and Associations of Southeast Asian Nations (ASEAN)

Answer 43

Regional Trade Agreements (RTAs)

Question 44

– are companies that operate countries and have a significant impact on the global economy. - engage in foreign direct investment, establish global supply chains, and play a crucial role in global trade and productions.

Answer 44

Multinational Corporations (MNCs)

Question 45

– are companies that operate countries and have a significant impact on the global economy. - engage in foreign direct investment, establish global supply chains, and play a crucial role in global trade and productions.

Answer 45

Multinational Corporations (MNCs)

Question 46

has emerged as a *dominant economic and political ideology* in the contemporary world, *shaping the policies and practices* of nations across the globe. Since its inception in the **late 20th century**, it has significantly influenced economic systems, governance structures, and societal norms, promoting free markets, individualism, and limited government intervention.

Answer 46

Neoliberalism (read and analyze ung sa taas pu ♥♥♥)

Question 47

advocates for minimal state intervention in the economy, promoting policies such as deregulation, privatization, and reducing government spending.

Answer 47

Neoliberalism

Question 48

is a political and economic philosophy that emphasizes the efficiency of private enterprise, free markets, free trade, and a limited role for government in the economy.

Answer 48

Neoliberalism

Question 49

is rooted in the belief that economic growth and individual freedoms are best achieved through free markets and minimal state intervention. It advocates for deregulation, privatization, and the reduction of government expenditure and welfare programs.

Answer 49

Neoliberalism

Question 50

emphasize the importance of competition, entrepreneurship, and global trade as drivers of economic development

Answer 50

Neoliberal policies

Question 51

One of the central tenets of neoliberalism is thenpromotion of free trade and globalization. Proponents argue.that opening up markets to international competition fosters efficiency, innovation, and economic growth. This has led to the proliferation of trade agreements and economic blocs such as NAFTA (North American Free Trade Agreement) and the European Union

Answer 51

Economic Impact

Question 52

Neoliberalism has also had a profound impact on governance structures and social policies. The ideology emphasizes the importance of individualism, personal responsibility, and market-oriented solutions to societal problems. As a result, governments have increasingly embraced privatization, outsourcing public services, and reducing social welfare programs. While proponents argue that these measures enhance efficiency and reduce the burden on taxpayers, critics contend that they erode social safety nets and exacerbate inequality. The privatization of education and healthcare, for example, has raised concerns about accessibility and affordability, particularly for marginalized communities

Answer 52

Political and Social Implications

Question 53

Beyond its economic and political dimensions,neoliberalism has permeated cultural and societal norms. It has promoted consumerism, emphasizing individual choice and personal gratification. The proliferation of advertising, branding, and the commodification of culture reflect this consumer-centric worldview. Critics argue that this has led to shallow consumer culture, environmental degradation, and the erosion of social cohesion.

Answer 53

Cultural Dimensions