Which statement is supported by information in the charts? select all that apply.

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Lesson 1: Economic Globalization (glossary words, lesson, assignment & quiz)

Terms in this set (27)

globalization

the process of countries around the world exchanging ideas, doing business, and trading

integrate

to combine parts, such as nations, into a whole, such as the global economic system

interdependence

the dependence of national economies on one another

multinational corporation

a corporation that is based in one country but operates across borders

outsourcing

the process of sending jobs to another country to take advantage of lower labor costs

Lesson
Which statements best describe how businesses can take advantage of globalization? Select all that apply.

- using lower labor costs in other countries
- transporting resources quickly from distant locations
- communicating more quickly with other countries

Which statement is supported by information presented in the graph?

//media.edgenuity.com/contentengine/frames/3ff8e6bc-dffb-11e2-a1a2-bc764e043e0c/3310-12-08-10-07-image1.PNG

Trade with Mexico increased following the passage of NAFTA.

match each organization with its mission and purpose
1. world trade organization
2. North American free trade agreement
3. organization of petroleum exporting countries
4. European union

1. promotes commerce and resolves commerce-related disputes
2. encourages exchange of goods and services among member nation
3. sets oil production and prices for member nations
4. established a common market and a common currency

Which factor is likely to be of concern in a developed nation in the twenty-first century?

slowing economic growth

Assignment
Why does high population growth cause problems in countries with low economic growth? Select all that apply.

- High population growth can lead to poor education.
- High population growth can lead to poverty.
- Economic growth generally cannot match population growth.
- High population growth can create environmental issues

Use the graph and the drop-down menus to complete the statements.
The GDP of the United States in 2010 was about
BLANK (1). The United States is a BLANK (2) country. The GDP of the United States is BLANK (3) most other countries in the world.

//media.edgenuity.com/contentengine/frames/e18f5274-dffe-11e2-a1a2-bc764e043e0c/3310-12-08-20-03-image1.PNG

1. $14.6 trillion
2. developed
3. much higher than

A recession occurs when economic production and growth decline over a period of time.
According to the graph, when did the United States experience a recession?

//media.edgenuity.com/contentengine/frames/ed4bb8d2-dffe-11e2-afff-bc764e043e0c/3310-12-08-20-04-image1.PNG

2007-2009

A global economic recession, or decline, affected nations across the world in 2008.
What happened to the price of oil during this time period?

//media.edgenuity.com/contentengine/frames/ede9f8bc-dffe-11e2-b360-bc764e043e0c/3310-12-08-20-05-image1.PNG

It began to decline.

Use the bar graph and the drop-down menus to answer the questions.
1. According to the graph, what percentage of GDP was earned in trade in 1990?
2. From 1990 to 2010, the percentage of GDP earned from trade

//media.edgenuity.com/contentengine/frames/f9d9aafa-dffe-11e2-bd15-bc764e043e0c/3310-12-08-20-06-image1.PNG

1. about 40 percent
2. increased

Which statement is supported by information in the graph?

//media.edgenuity.com/contentengine/frames/069bf55e-dfff-11e2-bf5c-bc764e043e0c/3310-12-08-20-07-image1.PNG

Trade between nations increased between 1980 and 2011.

Which statement is supported by information in the charts? Select all that apply.

//media.edgenuity.com/contentengine/frames/2318ce1e-dfff-11e2-a1a2-bc764e043e0c/3310-12-08-20-08-image1.PNG

- The share of world GDP contributed by the United States declined between 2000 and 2010.
- The share of world GDP contributed by China increased between 2000 and 2010.
- The amount contributed by nations other than China and the United States increased from 2000 to 2010.

Write a paragraph explaining how globalization has affected nations around the world. Use details from the lesson to support your answer.

Globalization has led to interdependence of world economies. Many nations have formed trade alliances or trade blocs to help their economies grow. As a result, trade has increased for all nations. Giant producing nations, such as the United States, are now contributing a smaller percentage of world GDP as other nations' production has increased.

Quiz
In countries such as China, globalization has led to

a better standard of living.

Globalization has affected developed countries by

turning their focus to providing services.

A multinational organization is defined as a business that

operates in multiple countries.

The graph below shows global trade and percentage of GDP.
//media.edgenuity.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-20.png
What conclusion should be drawn from the graph?

Trade increases create higher GDP percentage rates.

What are the purposes of international economic organizations? Select three options.

- to resolve trade disputes
- to promote fair and successful trade
- to encourage trade in developing countries

As economies grow, they demand more

raw materials.

Trade blocs help countries by

allowing the pooling of resources.

The graph shows US trade with Mexico.
//media.edgenuity.com/evresources/3310/3310-12/3310-12-08/3310-12-08-assessment/3310-12-08-12.png
In what years did US exports to Mexico remain approximately the same?

2000-2005

How has the Internet improved business communication worldwide? Select three options.

- It allows for instant communication.
- It enables people to monitor economic trends.
- It makes it possible buy and sell instantly.

How can businesses best take advantage of globalization?

by transporting resources from distant locations

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