Lesson 1

Question 1

basic guide in addressing the different problems in the world

Answer 1

The Eight Millennium Development Goals

Question 2

The Eight Millennium Development Goals which is created by

Answer 2

United Nation (UN) in the 1990s

Question 3

eight goals which the UN tried to achieve in the year 2015

Answer 3

1. Eradicating extreme poverty and hunger.
2. Achieving universal primary education.
3. Promoting gender equality and women empowerment.
4. Reducing childhood mortality
5. Improving maternal health.
6. Combating diseases like HIV/AIDS and Malaria.
7. Ensuring environmental sustainability.
8. Having global partnership for development

Question 4

According to UN a person who earns below Php 100,534.00 a year and estimated Php 275.00 a day in the Philippines is considered as a person living in

Answer 4

poverty line or poverty threshold

Question 5

What is the target deadline of UN to eliminate this extreme or absolute poverty.

Answer 5

year 2030

Question 6

The ______ (2015) reported that there is ________ people still living in poverty at the present, from the previous reports of ________ the total number people living in poverty are at ________, meaning there is a huge improvement in the progress of the economy.

Answer 6

UN, 836 million, UN, 1.9 billion

Question 7

It was predicted by the _______ that by the year _______ the people living in poverty will drop to ________ if the progress of the global economy will continue to improve

Answer 7

World Bank, 2030, 400 million

Question 8

factors that helps extreme poverty to decrease

Answer 8

Better Access to Education
Humanitarian Aid
Better Policies of International Organizations
Economic Globalization

Question 9

the world’s economies and the growth of many developing countries have become more interconnected.

Answer 9

economic Globalization

Question 10

activities in the economies

Answer 10

extraction , production , distribution, consumption and disposal of goods and services.

Question 10

Process or system by which goods and services are produced, sold and thoughts in a country or region

Answer 10

economy

Question 11

the sum of activities that take place both within a country and between different countries

Answer 11

Global economy

Question 12

It is a historical process that is the result of human creativity and technical process

Answer 12

Economic globalization

Question 13

according to_______ is a historical process that is the result of human creativity and technical process

Answer 13

IMF or International Monetary Fund

Question 14

According to the _______, “_________ refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital, and wide and rapid spread of technologies.

Answer 14

UN (as cited in Shangquan, 2000), Economic globalization

Question 15

historical process thatbegan with the first movement of people out of Africa into other parts of the world.

Answer 15

Globalization

Question 16

It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium.”

Answer 16

Economic globalization

Question 17

This means that all transactions made by one country to another country in terms of services or goods by trade is part of the

Answer 17

Economic Globalization

Question 18

Each country is affected by one another due to these global connections. t or f

Answer 18

true

Question 19

Philippines is one of the greatest supplier of agricultural product in the world where in some of this product are being recognized and being patronized by other countries. t or f

Answer 19

true

Question 20

TWO TYPES OF ECONOMIC GLOBALIZATION

Answer 20

1.Protectionism
2. Trade Liberalization

Question 21

This is a policy of systematic government intervention in foreign trade with the objective of encouraging domestic production.

Answer 21

Protectionism

Question 22

It refers to government policies that restrict or prevent international trade to help domestic industries.

Answer 22

Protectionism

Question 23

usually implemented with the goal to improve economic activity within a domestic economy but can also be implemented for safety or quality concerns

Answer 23

Protectionist policies

Question 24

trade liberalization means that the government would want to help the local or domestic producers of a certain country. t or f

Answer 24

false

Question 25

Types of Protectionism

Answer 25

Tariffs Quota Subsidy Standardization Exchange Controls Voluntary Export Restraints

Question 26

taxes or the duties that impose on the imports of goods and services.

Answer 26

Tariffs

Question 27

The restrictions on the volume of the import of the goods and services over a particular time

Answer 27

Quota

Question 28

tax credits that are granted to the domestic producer by the government of the country.

Answer 28

Subsidy

Question 29

oppose domestic subsidies in the fact that it looks to shift the consumption abroad. Yet at the same time, the goal is still to shield the domestic firm

Answer 29

Export subsidies

Question 30

policies and the guidelines that a government enlists, which shall be followed during the import of foreign goods and services.

Answer 30

Standardization

Question 31

The government can limit the amount of foreign currency that is available for payment of imports

Answer 31

Exchange Controls

Question 32

the quotas that are voluntarily agreed between countries

Answer 32

Voluntary Export Restraints

Question 33

advantages to the concept of protectionism

Answer 33

Escalates Growth Fall in Imports Employment Opportunities Higher Gross Domestic Product

Question 34

helps to increase the growth and opportunities of the smaller or the domestic industries in the country

Answer 34

Escalates Growth

Question 35

Due to an increase in the prices of imported goods, it leads to a fall in the demand, hence, a further fall in imports.

Answer 35

Fall in Imports

Question 36

It will induce a higher standard of living for the people of the country, which will further lead to satisfaction amongst the employees, hence, better work.

Answer 36

Employment opportunities

Question 37

It will help the country to further broaden its reach and produce higher than before, making a mark in the international market

Answer 37

Higher Gross Domestic Product