Unit 2

Question 1

Denotes that the economies of various countries are more interconnected frkm extraction, peoduction, distribution, consumption, to disposal of goods and services

Answer 1

Global Economy

Question 2

It goes beyond internationalization

Answer 2

Economic Globalization

Question 3

Involves the integration of functions and processes of economic activities

Answer 3

Economic Globalization

Question 4

It is driven by the “growing scale of cross-border trade of commodities and services”

Answer 4

Economic Globalization

Question 5

Means that separate production operations are functionally related to each other and form a unified product or service

Answer 5

Economic Integration

Question 6

It is the expansion of national economies, the global market driven by modern technologies and institutional set ups that promotes faster and easier flow of goods and capital

Answer 6

Economic Globalization

Question 7

IMF

Answer 7

International Monetary Fund

Question 8

OECD

Answer 8

Organization for Economic Cooperation and Development

Question 9

These organizations are critical in developng and pushing for neoliberal policies among different countries

Answer 9

International Economic Organization

Question 10

What are the three international economic organizations

Answer 10

IMF, World Bank, OECD

Question 11

Help facilitate trade and development discussions among various states

Answer 11

International Economic Organization

Question 12

What are the Regional Organizations

Answer 12

ASEAN and NAFTA

Question 13

ASEAN

Answer 13

Association of Southeast Asian Nations

Question 14

NAFTA

Answer 14

North American Free Trade Agreement

Question 15

These organizations promote regional agreements and standards that facilitate better trade and exchange of knowledge , human resources and regional cooperation

Answer 15

Regional Organizations

Question 16

Are advisory organizations that discuss current economic and political problems and transfer the ideas from the group’s forum to national legislative regulations

Answer 16

Group 8 (G8) and G20

Question 17

MNCs

Answer 17

Multinational Companies

Question 18

Which are considered to be the main carriers of economic globalization

Answer 18

Multinational Companies

Question 19

What year was there 44,000 MNCs in the world with 280,000 overseas subsidiaries and branch offices

Answer 19

1996

Question 20

88, 000 MNCs identified

Answer 20

2006

Question 21

Prime mover of economic globalization

Answer 21

Central Banks

Question 22

They are considered one of the most powerful institutions in the world economy since they can lead economic development

Answer 22

Central Banks

Question 23

Are more influential in their own national economy than some politicians

Answer 23

Central Bank Governors

Question 24

Major driver of econimic globalization

Answer 24

Global Civil Society

Question 25

Has made its mark in global development arena particularly during the UN Conference on Environment and Development in 1992

Answer 25

Global Civil Society

Question 26

Seen as either composed of individulas or groups of individuals disadvantaged by by the effects of the globalization of the world economy

Answer 26

Global Civil Society

Question 27

“organized to promote causes, principled ideas and norms, and they often involve individuals advocating policy changes that cannot be easily linked to a rationalist understanding of their interests”

Answer 27

Transnational Advocacy Networks

Question 28

TAN

Answer 28

Transnational Advocacy Networks

Question 29

is an international organization with 183 member countries to promote international monetary cooperation and exchange stability; to foster economic growth and high employment; and to provide short-term financial assistance to countries to help ease balance of payments adjustments

Answer 29

IMF

Question 30

Are global financial institutions that support a country’s economic growth through support (i.e., loans, technical assistance) to governments and now other private sectors

Answer 30

International Financial Institutions

Question 31

What are the International Financial Insitutions

Answer 31

World Bank, EDB, IMF

Question 32

EDB

Answer 32

European Bank for Reconstruction and Development

Question 33

Enterprise that engages in activities which add value (manufacturing, extraction, services, marketing, etc.) in more than one country

Answer 33

Transnational Corporations

Question 34

Group of nations that serve as an advisory organization that discuss current economic and political problems and transfer the ideas from the forum in national legislative regulations

Answer 34

G8 and G20

Question 35

G8 members

Answer 35

United States United Kingdom France Germany Italy Canada Russia

Question 36

G20 members

Answer 36

Argentina Australia Brazil Canada China France Germany India Indonesia Italy Japan Republic of Korea Mexico Russia Saudi Arabia South Africa Turkey United Kingdom United States African Union European Union

Question 37

There is a significant and meaningful movements of resources, products, people in different economies facilitated by modern transport and communication

Answer 37

Modern World System

Question 38

It is a critical reference in the theorization of globalization

Answer 38

Immanuel Wallerstein (Modern World System)

Question 39

Constitutes a social system composed of boundaries, structures, member groups, rules of legitimation and coherence

Answer 39

Immanuel Wallerstein (Modern World System)