As a result of economies beinginterrelated, most of the goods are likely to vary in cost aroundIncome,

the world.
availability of employment,affordability of housing, and quality of
FALSE health-care to mention a few are indicators of ____________________.
An expansion and intensification ofsocial relations and consciousness across STANDARD OF LIVING
world time and space. Market globalism is perpetuated by_____________________.
GLOBALIZATION POWER ELITES
The increasing number of businesscenters in rural areas is an example of which Reductionism focuses on which 2 aspectsof globalization?
claim of globalization. ECONOMY & TECHNOLOGY
CLAIM 2 – GOBALIZATION IS Advances in what aspect of societycaused the rapid movement of merchandise,
INEVITABLE/IRREVERSIBLE money, people, information and ideas over long distances?
The promotion of human rights, religiousbeliefs, even terrorism are examples of TECHNOLOGY
which scape of globalization? Which is not an example of MNC?
IDEOSCAPE NACKS PIZZA (yung hindi sikat sa buong mundo)
Is another term which connotes a nation’seconomy progressing towards _____________ is a government-issuedcurrency that isn't backed by a
becoming advanced. commodity such as gold.
EMERGING ECONOMY FIAT CURRENCY
It seeks to describe and explain nothingmore than a world which is characterized In a nutshell, the gold standard is aboutthe following except?
by networks of connections that span multi-continental distances. Currencies being backed by the people’s confidence.
GLOBALISM A network of pathways in the ancientworld that spanned from China to Middle
The following are horrific outcomes ofglobal trade except ___________? East to Europe.
EMPLOYMENT GENERATION SILK ROAD
The difference between people who havethe resources and access to goods and Brain drain is best described as__________________.
services can be accounted for by which characteristic of Globalization? Loss of skilled and professional people.
INLUSION AND EXCLUSION A passage in the ColumbianExchange/Triangular Trade that was utilized to
Some industrial factories in India,Thailand, and Vietnam are known to have transport Africans to the East to serve as slaves.
unacceptable working conditions and at the same time provide extremely low MIDDLE PASSAGE
wages. These industrial units can otherwise be referred to as Which of the following countries areconsidered as giant in terms of trade.
_______________. CHINA
SWEAT FACTORIES The continuous and increasing demandof goods and services all over the
The belief perpetuated by power elitesthat it is good for the society if individuals worldwide results to the
were to purchase large quantity of goods and services. ________________________ of global economies. This is evident as
CONSUMERISM countries adhere to specializing in the production of specific raw
_______________________ comprisesof the interconnected economies of materials to manufacturing of particular goods.
countries all over the world. INCREASING
GLOBAL ECONOMY INTERDEPENDENCE
Globalization as a process has managedto lock the whole world into a single The first documented use of fiat currencyin China was dated back to
community untiringly linked together through technology and constant _____________.
communication. This process eventually causes the world to become a 11TH CENTURY
________________. President Nixon formally ended thepractice of gold standard and anything
GLOBAL VILLAGE resembling it in the year?
The USA employ other countries tomanufacture most of the clothing lines they 1971
sell in their country. This process is otherwise known as Amount of something left over or excesswhen requirements have been met.
______________________? SURPLUS
OUTSOURCING Economic globalization only concernsitself with the allocation of limited supplies
A system of widely shared ideas,patterned beliefs, values and ideals accepted as around the globe.
true by some groups. Nah. This statement is False.
IDEOLOGY A Global Value Chain is best describedby which statement?
The continuous upgrading of gadgets andmeans of communication in the Apple phones sold in the Philippines are designed in the USA and
Philippines is an example of manufactured in China.
____________________. Globalization could have not existedwithout the occurrence of which two events?
TECHNOSCAPE (Note: Requires two answers)
Globalization does not have ideologicaland political dimensions. INVREASED TRADE AND
FALSE GLOBAL TRANSPORTATION
The statement “Global village causes theloss of cultural identity” is Only goods can be imported andexported.
____________? NOPE!
TRUE After satisfying the parameters ofactually reaching other land areas and cultures,
_____________ is the basic driving forceof today’s society. _________________ is considered as the
MARKET beginning of globalization.
Which is not manifestation ofglobalization? GALLEON TRADE
NONE OF THESE (TRAVEL, COMMUNICATION, POLITICS, HEALTH,) Economic Globalization is confined tofinancescape or the movement of money in
The statement “Globalization benefitseveryone” is __________? and out of the country.
FALSE NO! NO! NO!
Victims of human trafficking, andinternational abduction are examples of which Fiat literally means?
scape of globalization? let it be so
ETHNOSCAPE The action or system of exchangingcommodities without the use of currency.
Plainly said, ________________ denotesthe exchange of goods and services BARTER
between and among countries. Which of the following is the keycharacteristic of economic globalization?
GLOBAL TRADE Growing interdependence among businesses.
These are countries characterized byhaving little industrial and economic activity Most sought/ expensive
therefore resulting to low incomes. SILK
DEVELOPING COUNTRIES Gold as payment
GOLD STANDARD
Triangular trade Government-produced money backed bya physical commodity such as precious
transfer of plants, goods, and culture metals.
REPRESENTATIVE MONEY / COMMODITY MONEY
An ideology based on the belief thatpeople, information, and goods should be
able to cross national borders unrestricted
 GLOBALISM
Is the spread of technology, products,information, and jobs across nations.
 GLOBALIZATION
The standard measure of the value addedcreated through the production of
goods and services in a country during a certain period.
 GROSS DOMESTIC PRODUCT