Globalization

Running head: GLOBALIZATION 1
Globalization
Name
Institution

GLOBALIZATION 2
GLOBALIZATION
Quiz 1
The term globalization covers many aspects of modern life, from trade to
communication to foreign policy to culture, that it may be difficult to pinpoint what exactly
the term globalization means. Globalization refers to the process in which individuals, goods
and ideas spread throughout the universe, spurring more integration and interaction between
the world’s government, culture, and economies (Samiee, 2019). It refers to a process of
integration and interaction among individuals, governments, and companies of different
countries, a process being driven by investment and international trade as well as supported
by IT (information technology). Globalization has effects on culture, on the environment, on
the political system and economic development around the world.
Quiz 2
The key drivers of globalization are technological advancement, international
investment, and international trade (Dwyer, 2015). Technological advancements make it
easier for ideas, goods, and people to move across different borders. Conversely, international
trade strengthens and encourages interdependence between nations. Other drivers of
globalization include government, market, cost as well as competition.
Quiz 3
The global economy enabled the United State to dominate the world trade and the
world economy. With the growth of the global economy, there has been constant fall in the
share of world export and world output accounted for by the United State. Globalization as

GLOBALIZATION 3
well growth of the global economy has led to the fall in the dominance of United State
organizations in the international marketplace.
Quiz 4
The main argument for globalization: Cross-border investment and increased
international trade will lead to lower prices of different commodities. There is also an
argument that globalization increases the income of consumers, encourages economic
growth, as well as helps in creating jobs in different countries. Some researchers also argue
that the benefits of globalization outweigh the cost.
Arguments against: Some people believe that globalization has negative effects on
wage rates, living standard, as well as the environment. Many researchers also believe that
globalization also causes environmental degradation
Quiz 5
There are four different challenges for the managers which include nations have
different cultures, the legal system, and political systems. There is also difficulty in
international transactions. On the other hand, globalization creates more new jobs opportunity
for different people such as Managers.
Quiz 6
For the past thirty years, there has been a continuous change in the world in that the
national economy changed to self-contained entities, separated by barriers to investment and
trade, as well as differences in culture, business systems, and government regulation toward a
world where culture is converging, investment and trade barrier is declining, as well as
national economies are re-uniting into an integrated international economic system. As