PRELIM EXAM Flashcards
(57 cards)
The process of removing state-imposed restrictions on movements between countries to create an “open”, “borderless” world economy is called ___________
Liberalization
What is an outlook that is limited to one’s immediate community?
Parochialism
What are the parameters of globalization?
- Free flow of goods and services between countries due to the reduction of trade barriers
- Creation of an environment for flow of capital and investment among countries
- Free flow of technology from one country to another
- Free flow of labor among countries
What are the advantages of globalization?
- Increase in employment opportunities
- Education
- Increase free trade
- Faster flow of information
- Increase in quality of goods and services
- Decreases in prices of goods and services
- Reduction in cultural barriers
What was the year when the United Nations came into being?
1945
What is the most complete definition of Globalization?
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology
The movement towards political cooperation among transnational actors aimed at negotiating responses to problems that affect more than one state or region is called _______
Global Governance
When was the International Monetary Fund and World Bank created?
1944
The theory of International Relations which focuses on the notion that states work to increase their owe power through militarization relative to other states is called ___________
Realism
What is the international organizations is responsible for promoting global economic growth and financial stability, encouraging international trade, and reducing poverty?
International Monetary Fund
True or False: Globalization refers to political principle which transcends nationalism and advocates a greater political or economic cooperation among nations and people
False
Globalization viewed as the process of spreading various objects and experiences to all people around of the world is called ___________
Universalization
What are the features of globalization?
- The business expands throughout the world
- Goods and services are bought/sold to or from any country of the world
- Products are planned and developed keeping in mind the markets of the entire world
- Manufacturing and distribution can be done at any part of the world based on feasibility and viability
- Outsourcing of goods and services can be done
A growing belief that we are all global citizens and should all be held to the same standards and have the same rights is called ____________
Sociological Globalization
What refers to the primary or fundamental unit in international relations, a political entity within a defined territorial area possessing legal and political authority over that area?
Nation state
What are the part of the process of globalization?
- Domestic company exports to foreign countries through dealers and distribution of home country
- Domestic company exports to foreign countries directly on its own
- Domestic company becomes an international company establishing productions and marketing operations in various foreign countries
- The company replicates a foreign company in the foreign country by having all the facilities R&D, HR, etc.
- The company becomes a true foreign company by serving the needs of foreign customers just like the host country’s company serves
What was the year when the WTO came into being?
1995
What are the conditions for globalization?
- Quotes and tariffs must be removed
- Freedom must be given to business and industries
- Bureaucratic hurdles must be removed
- Rules and regulations of control should be liberalized
- Money and capital markets should be developed
- Administrative and Government support is essential
What are the disadvantages of globalization?
- Environmental degradation
- Growing disparity among the rich and the poor
- Small scale industries face extinction
- Rapid spread of deadly diseases
Which type of Globalization covers ‘wildlife reserves that span several countries?’
Ecological
It is a nation’s belief systems: historical, cultural, and social that explain it6s foreign policy efforts and behavior rather than the outright pursuit of material interests
Constructivism
What type of Globalization has been facilitated by the information revolution, the spread of satellite communication, telecommunication networks, information technology and the Internet?
Cultural
What is the most important reason that promoted the idea of global governance?
Because no single nation has got all the resources to tackle problems plaguing humanity and this planet
What type of globalization is associated with biodiversity and climate change?
Ecological
