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Industrial Economics and Globalization

Description: Industrial Economics and Globalization Quiz
Number of Questions: 15
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Tags: industrial economics globalization
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Which of the following is NOT a characteristic of globalization?

  1. Increased trade and investment

  2. Increased cultural exchange

  3. Increased economic inequality

  4. Increased environmental degradation


Correct Option: C
Explanation:

Globalization is often associated with increased economic inequality, as it can lead to a concentration of wealth in the hands of a few individuals or corporations.

What is the term used to describe the process of a country becoming more integrated into the global economy?

  1. Economic integration

  2. Globalization

  3. Internationalization

  4. Trade liberalization


Correct Option: A
Explanation:

Economic integration refers to the process of a country becoming more closely linked to the economies of other countries through trade, investment, and other forms of economic interaction.

Which of the following is NOT a benefit of globalization?

  1. Increased economic growth

  2. Increased job opportunities

  3. Increased cultural diversity

  4. Increased environmental degradation


Correct Option: D
Explanation:

Globalization can lead to increased environmental degradation, as it can result in increased production and consumption, which can put a strain on the environment.

What is the term used to describe the process of a country becoming more self-sufficient and less dependent on imports?

  1. Economic isolation

  2. Globalization

  3. Import substitution

  4. Trade protectionism


Correct Option: C
Explanation:

Import substitution is a policy aimed at reducing a country's dependence on imports by encouraging the domestic production of goods that were previously imported.

Which of the following is NOT a challenge of globalization?

  1. Increased economic inequality

  2. Increased job displacement

  3. Increased cultural homogenization

  4. Increased economic growth


Correct Option: D
Explanation:

Globalization is often associated with increased economic growth, as it can lead to increased trade and investment.

What is the term used to describe the process of a country becoming more specialized in the production of certain goods and services?

  1. Comparative advantage

  2. Economic diversification

  3. Industrialization

  4. Specialization


Correct Option: D
Explanation:

Specialization refers to the process of a country focusing on the production of certain goods and services in which it has a comparative advantage.

Which of the following is NOT a factor that has contributed to globalization?

  1. Advances in transportation and communication technology

  2. Increased trade liberalization

  3. Increased foreign direct investment

  4. Increased economic nationalism


Correct Option: D
Explanation:

Economic nationalism is a policy aimed at protecting domestic industries and businesses from foreign competition.

What is the term used to describe the process of a country becoming more open to trade and investment?

  1. Economic liberalization

  2. Globalization

  3. Internationalization

  4. Trade liberalization


Correct Option: D
Explanation:

Trade liberalization refers to the process of reducing or eliminating trade barriers, such as tariffs and quotas.

Which of the following is NOT a type of trade barrier?

  1. Tariffs

  2. Quotas

  3. Subsidies

  4. Embargoes


Correct Option: C
Explanation:

Subsidies are government payments to businesses or individuals, and are not considered to be a type of trade barrier.

What is the term used to describe the process of a country becoming more industrialized?

  1. Economic development

  2. Globalization

  3. Industrialization

  4. Modernization


Correct Option: C
Explanation:

Industrialization refers to the process of a country transitioning from an agricultural economy to a manufacturing economy.

Which of the following is NOT a characteristic of an industrialized country?

  1. High levels of economic growth

  2. High levels of education and skill

  3. High levels of income inequality

  4. High levels of urbanization


Correct Option: C
Explanation:

Income inequality is not necessarily a characteristic of an industrialized country.

What is the term used to describe the process of a country becoming more urbanized?

  1. Economic development

  2. Globalization

  3. Industrialization

  4. Urbanization


Correct Option: D
Explanation:

Urbanization refers to the process of a country's population becoming more concentrated in urban areas.

Which of the following is NOT a challenge of urbanization?

  1. Increased pollution

  2. Increased traffic congestion

  3. Increased crime

  4. Increased economic growth


Correct Option: D
Explanation:

Urbanization can lead to increased economic growth, as it can bring together a large number of people and resources in a small area.

What is the term used to describe the process of a country becoming more developed?

  1. Economic development

  2. Globalization

  3. Industrialization

  4. Modernization


Correct Option: A
Explanation:

Economic development refers to the process of a country improving its economic and social well-being.

Which of the following is NOT a measure of economic development?

  1. Gross domestic product (GDP)

  2. Human Development Index (HDI)

  3. Infant mortality rate

  4. Life expectancy


Correct Option: C
Explanation:

Infant mortality rate is not a measure of economic development, but rather a measure of health and well-being.

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