LESSON 1 & 2

Question 1

is an outlook that is limited to one’s immediate community.

Answer 1

parochialism

Question 2

A person who is concerned only with his or her family, village, or even country is _________.

Answer 2

parochial

Question 3

The parochial person is?

Answer 3

close-minded

Question 4

Refers to the process by which the world, previously isolated through physical and technological distance, becomes increasingly interconnected

Answer 4

globalization

Question 5

It is manifested by the increase in
interaction between people around the
world that involves the sharing of ideas, cultures, goods, services, economic, political, cultural, ideological, investment
environmental and processes aided by
information technology

Answer 5

globalization

Question 6

biggest factor of globalization?

Answer 6

humans

Question 7

important aspects of globalization:

Answer 7

1. global trading
2. capital movement
3. movement of people

Question 8

Also called International Trading, or
the economic exchanges and deals
between countries.

Answer 8

global trading

Question 9

Concerns Importation and Exportation

Answer 9

global trading

Question 10

is an exchange or policy of goods and products between nations without or lessening tariff or tax

Answer 10

free trade

Question 11

Manifested in the form of Foreign
Investment

Answer 11

capital movement

Question 12

can be categorized as commercial loan,
official flows and foreign direct
investment

Answer 12

foreign investment

Question 13

are money lent to foreign businesses or governments

Answer 13

commercial loans

Question 14

refer to development aid or money granted by rich countries to developing nations

Answer 14

official flows

Question 15

refers to buying or putting up a firm in a foreign country or contributing to the enhancement of an existing firm

Answer 15

foreign direct investment

Question 16

People can migrate to other countries
in search of better employment
opportunities

Answer 16

movement of people

Question 17

• It was a network of ancient trade routes connecting China and the Far East with the Middle East and Europe.
• It was established when Han Dynasty ofChina officially opened trade with the West in 130 B.C

Answer 17

silk road (130 bc)

Question 18

The name Silk Road derived from the
popularity of ______ ____ among
tradesmen in the Roman Empire and
elsewhere in Europe, the material was
not the only important export from the
East to the West

Answer 18

chinese silk

Question 19

Silk road is also known as ______ ____ that traded fruits and vegetables, livestock, grain, leather, tools, religious objects, artwork, precious stones and metals andperhaps more importantly—language, culture, religious beliefs, philosophy and science

Answer 19

economic belt

Question 20

Venetian merchant and explorer
who traveled the Silk Road from Italy to China in the 13th century. His travels are considered the most famous by a Western explorer on
the Silk Road

Answer 20

marco polo

Question 21

age of exploration was on?

Answer 21

15-18th

Question 22

It is also known as first wave of
globalization.

Answer 22

age of exploration

Question 23

A period when Europeans explored the world

Answer 23

age of exploration

Question 24

It connected previously isolated regions and laid the groundwork for
globalization

Answer 24

age of exploration

Question 25

europeans that participated during the age of exploration:

Answer 25

1. christopher columbus 2. vasco da gama 3. ferdinand magellan

Question 26

was a turning point in world history, as it connected continents, expanded trade, and facilitated cultural exchanges.

Answer 26

age of exploration

Question 27

happened during the Spanish Colonial Era (1565–1815), specifically between the 16th and early 19th centuries.

Answer 27

galleon trade

Question 28

put up the ground for globalization by bringing about economic and cultural exchange and integration of financial markets between Asia and America

Answer 28

galleon trade

Question 29

makes one or two round trip voyages per year between the ports of Acapulco and Manila

Answer 29

galleon trade

Question 30

It was a period of rapid technological advancements, industrialization, and economic growth that significantly contributed to modern globalization. It began in Great Britain in the late 1700s and eventually spread to Europe, North America, and other parts of the world

Answer 30

industrial revolution

Question 31

It transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system. New machines, new power sources, and new ways of organizing work made existing industries more productive and efficient

Answer 31

industrial revolution

Question 32

key features of industrial revolution (technological innovations)

Answer 32

• Steam engines • Textile machines • Iron and steel production • Telegraph

Question 33

connected countries and continents.

Answer 33

steamships and railroads

Question 34

shortened global trade routes.

Answer 34

suez canal and panama canal

Question 35

Industrialized nations sought raw materials (______,______,_____) from colonies

Answer 35

cotton, rubber, oil

Question 36

the rise of multinational corporations, international organizations (like the UN, WTO, and IMF), and advancements in technology, transportation, and communication (especially the Internet and digital revolution) have driven globalization to its current level

Answer 36

end of ww2