Question

Which of the following causes the most problems in countries with low economic growth?

poor education
low unemployment
higher standard of living
rapid population increase


Globalization has led nations to join trade organizations in order to

be able to compete better.
regulate the supply of products.
respond better to global trends.
monitor the global economy.



A multinational organization is defined as a business that

participates in all trade organizations.
operates in multiple countries.
is always not for profit.
only hires employees through outsourcing.


Why do companies choose to outsource work?

to increase profits
to improve products
to cut transportation costs
to develop local resources



Globalization has affected developed countries by

encouraging new products.
providing a solid consumer base.
turning their focus to providing services.
increasing employment for unskilled workers.



The graph shows US Oil Import Prices from 1995 to 2010.

A line graph titled U S Oil import prices, 1995 to 2010, is shown. The x axis shows years, from 1995 to 2010, and the y axis shows price per barrel, from 0 to 120 dollars. The line starts at 16 in 1995, to 12 in 1998, 20 in 2001, 40 in 2004, peaking at 96 in late 2007, to 76 in 2010.

What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?

a global recession
scarcity of petroleum
a large population growth
demand from developing countries


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

to resolve trade disputes
to decrease regulation of product supply chains
to promote fair and successful trade
to solve the problems of various countries
to encourage trade in developing countries



What is the primary purpose of the European Union?

to create a common currency
to allow more trade between countries
to encourage immigration from one country to another
to permit workers to seek employment in international areas



As economies grow, they demand more

financial assistance.
raw materials.
available labor.
defense services.



Globalization has the largest effect on

employment.
businesses.
economies.
transportation.

Answer 1

1. Rapid population increase

2. Be able to compete better

3. Operates in multiple countries

4. To increase profits

5. Turning their focus to providing services

6. Demand from developing countries

7. - To resolve trade disputes
- To promote fair and successful trade
- To encourage trade in developing countries

8. To allow more trade between countries

9. Raw materials

10. Economies