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- 1. Multiple Choice
According to Manfred Steger, it is the expansion and intensification of social relations and consciousness across world-time and across world-space.
Globalization
a
- 2. Multiple Choice
Refers to both the creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural and geographic boundaries.
Expansion
q
- 3. Multiple Choice
Refers to the expansion, stretching and acceleration of these networks.
Intensification
a
- 4. Multiple Choice
Is a definition Steger where it is a widespread belief among powerful people that the global integration of economic markets is beneficial for everyone, since it spreads freedom and democracy across the world.
Globalism
s
- 5. Multiple Choice
Refers to Global movement of people ------ coined by
Ethnoscape
Anthropologist Arjun Apparudai
x
- 6. Multiple Choice
Refers about the flow of culture ----- coined by
Mediascape
Anthropologist Arjun Appadurai
a
- 7. Multiple Choice
Refers to the circulation of mechanical goods and software ---- coined by
Technoscape
Anthropology Arjun Appadurai
a
- 8. Multiple Choice
Denotes the global circulation of money ----- coined by
Financescape
Anthropology Arjun Appadurai
a
- 9. Multiple Choice
is the ream where political ideas move around ------ coined by
Anthropology Arjun Appadurai
Ideoscape
a
- 10. Multiple Choice
What is/are being globalized ?
ideas
money
products
s
- 11. Multiple Choice
It is regarded as a historical process representing the result of human innovation and technological progress.
Characterized by the increasing integration of economies around the world through the movement of goods, services and capital across borders.
Economic Globalization
International Monetary Fund
A
- 12. Multiple Choice
It means that investments are moving all over the world at faster speeds.
Increased trade
Z
- 13. Multiple Choice
UNCTAD
United Nations Conference on Trade and Development
A
- 14. Multiple Choice
The oldest known international trade route ... Describe and explain why it was given that name.
Silk Road
A network of pathways in the ancient world that spanned from China to what is now Middle East and Europe.
It was called as such because one of the most profitable products traded through this network was silk.
Chinese Han Dynasty Opened -130 BCE
Ottoman Dynasty Closed -1453 BCE
- 15. Multiple Choice
Even tho Silk Road was international it was not global. When did the age of globalization began ? According to whom ---
When all important populated continents began to exchange products continuously----both with each other directly and indirectly via other continents--- and in values sufficient to generate crucial impacts on all trading partners.
S
- 16. Multiple Choice
What is mercantilism ? Give an example of it.
System of global trade with multiple restrictions.
To defend their products from competitors who sold goods more cheaply, thes regimes (mainly monarchies) inposed high tariffs, forbade colonies to trade with other nations, restricted trade routes & subsidized exports.
Galleon Trade
- 17. Multiple Choice
Its goal was to create a common system that would allow for more efficient trade and prevent the isolationism of mercantilist era. Countries established a common basis for currency prices and a fixed exhange rate system --- all based on the value of gold.
Gold Standard
A
- 18. Multiple Choice
Why was Gold standard considered a very restrictive system ?
It compelled countries to back their currencies with fixed gold reserves.
A
- 19. Multiple Choice
What is great depression?
Economic crisis that started during the 1920's and extended up to the 1930's.
It was the worst and longest recession ever experienced by the western world.
- 20. Multiple Choice
It is the currencies that are not backed by precious materials and whose value is determined by their cost relative to other currencies.
Fiat currencies
This system allow governments to freely and actively manage their economics by increasing or decreasing the amount of money in circulation as they see fit.
- 21. Multiple Choice
What is Bretton Wood System ?
Inaugurated in 1944 during the United Nations Monetary and Financial Conference to prevent the catastrophes of the early decades of the century from reoccurring and affecting international ties.
A
- 22. Multiple Choice
Brotish Economist John Maynard Keynes believed that ...
Economic crises occur not when a country does not have enough money, but when money is not being spentand, thereby, not moving.
A
- 23. Multiple Choice
What are the 2 financial institution agreed and created by delegates at bretton woods ?
International Bank for Reconstruction and Development (IBRD / world bank) - resp. For funding postwar reconstruction projects
International Monetary Fund (IMF) - global lender of last resort to prevent individual countries from spiraling into credit crises.
- 24. Multiple Choice
What is GATT ?
General Agreement on Tariffs and Trade in 1947
It's main purpose was to reduce tariffs and other hindrancee to free trade
- 25. Multiple Choice
What is Stagflation ?
Decline in economic growth and employment (stagnation) takes place alongside a sharp increase in prices (inflation)
S
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