GEC WORLD - MIDTERM

To be present in all countries

24. Which of the ff does not differentiate transnational against multinational.

to reduce transport cost

25. Which is advantage of containerization?

B. Maximizing more growth for global economy

29. Correct approach to sustainable economic growth.

- A. Planting at the backyard

33. Which of these accurately about how to find against food insecurity?

C. An international system between exclusive states

42. Which of ff statements is not a definition of global interstate system.

A. WHO set rules of proper hand washing

49. Which of the following statements, correct implementation.

C. have economic recession

51. Which of the ff challenge does not entail an obligation for a global governance.

Heterogeneity Theory

A Filipina marrying an American Citizen. A. Homogeneity Theory B. Heterogeneity Theory

CONGLOMERATION

A combination of agencies or activities not directly related to each other may, when it operates under a unified management.

Global governance

A movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region.

Heterogeneity Theory

American English Standard being adopted by most of our fellow countrymen. A. Homogeneity Theory B. Heterogeneity Theory

True

Capital barriers have been reduced for easier ow towards different economies. A. True B. False

True

Competition such as SEA games are intentionally made to social relations and exchanges among the member countries. A. True B. False

False

Containerization reduced the profit of inter-modal transport, making trade more expensive and more efficient. A. True B. False

False

Covid-19 was made to slow down globalization. A. True B. False

Heterogeneity Theory

Different political system in the world. A. Homogeneity Theory B. Heterogeneity Theory

Heterogeneity Theory

Foreign company putting up new business in Chocolate Hills. A. Homogeneity Theory B. Heterogeneity Theory

Containerization

From 1970, there was a rapid adoption of the steel transport container. This reduced the costs of inter-modal transport, making trade cheaper and more efficient.

- Lower costs - Higher efficiency - Increased differentiation - Increased market power - Reduced competition - Access to new markets - Economics of scale - Economics of scope - International trade

Give at least two advantages of horizontal integration.

True

Globalization is necessary to help ease the travel flow of people from one country to another. A. True B. False

Broad and inclusive

Globalization is rubric of for a varied phenomenon. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization is the compression of time and space. A. Narrow and exclusive B. Broad and inclusive

Broad and inclusive

Globalization is the onset of the borderless world. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization is the process of making something worldwide in scope or application. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization is the tendency of integration of national capital markets. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization is the triumph of capital world economy tied together by a global division of labor. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization is what the third world have for several centuries called colonization. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization refers to the global economy and the global markets. A. Narrow and exclusive B. Broad and inclusive

Narrow and exclusive

Globalization refers to the processes whereby power is located in global social formations and expressed through global networks rather than through territorially based states. A. Narrow and exclusive B. Broad and inclusive

True

Globalization results to the increasing number Of Multinational Corporations. A. True B. False

Narrow and exclusive

Globalizations are those processes by which the peoples of the world are incorporated into a single world society. A. Narrow and exclusive B. Broad and inclusive

False

Improved technology makes communication and sharing of information difficult around the world. A. True B. False

HORIZONTAL INTEGRATION

In this type of integration, some marketing agencies combine to form a union with a view to reducing their effective number and the extent of actual competition in the market.

False

Internet disables firm to communicate on a global level. A. True B. False

CONTRACT INTEGRATION

It involves an agreement between two firms on certain decisions, while each firm retains its separate identity.

FORWARD INTEGRATION

It is a firm that assumes another function of marketing which is closer to the consumption function.

VERTICAL INTEGRATION

It occurs when a firm performs more than one activity in the sequence of the market process.

OWNERSHIP INTEGRATION

It occurs when all the decisions and assets of a firm are completely assumed by another firm.

Homogeneity Theory

Laws, Rules, and Regulations of our country based on other famous countries. A. Homogeneity Theory B. Heterogeneity Theory

Core Nations

Nations that appear to be powerful, wealthy and highly independent of outside control.

False

People are more willing to move between different countries in search for work because of pandemic. A. True B. False

GLOBAL INTERSTATE SYSTEM

Refers to the relationship between different state union. It also includes all the cultural aspects and interaction networks of the human population.

Homogeneity Theory

Religious rites such as Christening, Christian Wedding, Christian festivals etc. A. Homogeneity Theory B. Heterogeneity Theory

Homogeneity Theory

Rich countries becoming richer and poor countries becoming poorer. A. Homogeneity Theory B. Heterogeneity Theory

C.

Select the best reasons why Gold standard was followed by many countries in 1867? A. To enable Gold-Rich countries dominate the world. B. To utilize gold and promote isolationism of the mercantilist era. C. To create common system that would allow more efficient trading. D. To establish a common basis currency prices and floating exchange rate system.

Dependency theory

Sociologists posited something called _______________ in which poor countries are exploited by rich ones, maintaining a status quo of wealth throughout the world.

True

Tariff banners have been reduced to nations with free trade agreements to maximize the profits. A. True B. False

Homogeneity Theory

The Spread of corona virus all around the world. A. Homogeneity Theory B. Heterogeneity Theory

Globalization

The development of closer economic, cultural, and political relations among all the countries of the world as a result of travel and communication becoming easy.

Homogeneity

The increasing sameness in the world as cultural inputs, economic factors, and political orientations of societies expand to create common practices, same economies, and similar forms of government.

B.

The oldest known international trade route is called Silk Road, because? A. Because they traded cream silk more often than other products. B. Because they often trade Silk for it was profitable. C. Because it was opened by a Chinese leader who loves silk. D. Because it is a network of pathways in the ancient world that connects China to Europe.

Heterogeneity

The quality or state of being diverse in character or content.

Heterogeneity Theory

The unity among Boholanos to fight against the pandemic. A. Homogeneity Theory B. Heterogeneity Theory

Peripheral Nations

These are the nations that are the least economically developed.

Semi-peripheral Nations

These regions have a less developed economy and are not dominant in the international trade.

KOHLS AND UHL

They defined market integration as a process which refers to the expansion of firms by consolidating additional marketing functions and activities under a single management.

ROLE OF GLOBAL GOVERNANCE

Trade, climate change and the role of values in global governance. The emerging field of global governance has produced a number of breakthroughs, as well as aimed at managing global through the voluntary and cooperation of a diverse failures, problems ad hoc range of international actors.

Homogeneity Theory

Western gestures and expression adopted by all Filipinos. A. Homogeneity Theory B. Heterogeneity Theory

- To remove transaction costs - Foster competition - Provide better signals for optimal generation and consumption decisions. - Improve security of supply

What are the 4 reasons of market integration?

- Horizontal Integration - Vertical Integration - Conglomeration

What are the three basic kinds of market integration?

B. Beyond the capacity, everybody can benefit from it

Which of the ff do not discuss the tragedy of commons?

D.

Which of the following is NOT a reasons for the market integration. A. To remove transaction cost. B. Foster competition. C. Provide better signals for optimal generation and consumption decisions. D. Remove security of supply.

D.

Which of the following is NOT an advantages of horizontal integration. A. Lower costs. B. Increased differentiation C. Higher efficiency . D. Decreased market power.

D.

Which of the following is one of the disadvantages of vertical integration. A. It can have capacity non-balancing problems. B. It can bring about less difficulties. C. It can result in increased flexibility. D. It can create some barriers to market entry.

C.

Which of the following scenarios describes better about Mercantilism? A. Philippines agreed to trade alone with China for any goods. B. Philippines promise to subsidies rice imports of Vietnam. C. China restricts Philippines to receive imports from Canada. D. USA controls Japan for their exports.

D.

Which of the following statement discusses the goal of the Bretton wood system? A. To prevent the catastrophe of the early decades of the century from reoccurring again. B. To ensure exchange rate stability. C. To prevent competitive devaluations and promote economic growth. D. All of the above

B.

Which of the following statements describes the process of high frequency of trading more profoundly? A. Imports and exports transactions made easily through globalization. B. Supercomputers can execute millions of stock trading between different cities in a matter of seconds. C. Electronic books can be purchased anytime and anywhere. D. Global trading has dramatic increase in the span of just a few decades.

D.

Which of the following statements is not a true function of International Monetary Fund. A. The IMF aims to reduce global poverty. B. The IMF oversee economic development. C. The IMF is the global lender of last resort to prevent countries from spiraling credit crises. D. The IMF is responsible for funding post war reconstructions projects.

A.

Which of the following statements is not true about the Washington consensus? A. Advocates for minimal government spending to reduce government taxes. B. Called for the privatization of government-controlled services like water, power, communications, etc. C. Dominated global economic policies from the 1980s until the early 2000s. D. Believes that free market can produce the best results.

A.

Which of the following statements is true about fiat currency? A. Currencies not backed by precious metals, which value was based by their cost relative to others. B. Currencies backed by the government's gold reserves. C. Fiat currency does not have intrinsic value and does not have use value. D. A currency established as money by private regulation.

C.

Which of the following statements is true about the great economic depression? A. The stock market crash sent Wall Street into a panic and wiped out millions of armies. B. Started during the 1920s and extended up to the 1930s emptying government offers. C. The depression was the worst and longest recession ever experienced by the Western world. D. The depression was largely caused by the global standard.

C.

Which of these statements is best about the beginning of the economic globalization? A. Economic globalization begin during the creation of the Silk Road route. B. Economic globalization begin during the establishment of Manila Acapulco Galleon Trade. C. Economic globalization begin when all important populated continents exchange products continuously. D. Economic globalization begin when the Silk Road route ends.

GLOBAL MARKET INTEGRATION

_______means that price differences between countries are eliminated as all markets become one.

Multinational Corporation

a centralized corporation that does business in a select few countries around the world and operates facilities such as warehouses or distribution centres in at least one foreign country

Hegemon

a core state that has a significantly greater amount of economic power than any other state, and that takes on the political role of system leader.

Transnational Corporation

corporations that operate in many companies and who do not have a centralised management system. In other words, they don't have a central headquarters in one country which makes all the decisions globally.

Tragedy of the Commons

describes a situation where shared resources are overused, and eventually depleted, posing risks to everyone involved.

Sustainable Economic Growth

means maintaining growth without creating economic problems or complications. It's the practice of supporting long-term economic growth without depleting resources.

Dependency theory

suggests that core countries, which are rich, take resources from peripheral countries, which are poor. The rich continue to increase their wealth through this relationship, while the poor remain impoverished.

Broad and Inclusive

the definition includes a variety of issues that deal with overcoming traditional boundaries. Such does not shed light on the implications of globalization due to its vagueness (not clearly stated).

Narrow and Exclusive

the definitions are better justified but can be limiting as well in the sense that its application are only to those who adhere to such definition.

Food Security

when all people, at all times, have physical and economic access to sufficient safe and nutritious food that meets their dietary needs and food preferences for an active and healthy life.