REPUBLIC OF THE PHILIPPINES

UNIVERSITY OF EASTERN PHILIPPINES

Pedro Rebadulla Memorial Campus
CATUBIG N. SAMAR

FINAL EXAMINATIONS IN GE 5
(The Contemporary World)
1st Sem. /A.Y. 2018-2019

NAME: ______________________________ COURSE: __________ DATE: _______

I. IDENTIFICATIONS. Identify each of the descriptions and answer it correctly.

A. Multiple Choices. Select the appropriate letter that corresponds to each questions.
Write your answers on the answer sheets.

1. A social institution that organizes all of production, consumption and trade of goods in the society.
a. Economic c. Family e. School
b. Government d. Church
2. Economic systems typically splits into three sectors. These is the sectors where it involves services
rather than goods.
a. Primary c. Tertiary e. All of the above
b. Secondary d. A&B
3. This was the first big economic changes, when people learned how to domesticate plants and animals.
a. Capitalism c. Socialism e. Marxism
b. Agricultural Revolution d. Industrial Revolution
4. This is a widespread replacement of manual labor by machines that began in Britain in the 18 th century
and is still continuing in some parts of the world.
a. Capitalism c. Socialism e. Marxism
b. Agricultural Revolution d. Industrial Revolution
5. An economic system in which private individuals and business firms carry on the production and
exchange of goods and services through a complex network of prices and markets.
a. Capitalism c. Socialism e. Marxism
b. Agricultural Revolution d. Industrial Revolution
6. An economic and social system under which essential industries and social services are publicly and
cooperatively owned and democratically controlled with a view to equal opportunity and equal benefit
for all. a. Capitalism c. Socialism e. Marxism
b. Agricultural Revolution d. Industrial Revolution
7. Types of jobs which includes jobs that provide many benefit to workers or the so-called white collar
professions. a. Primary Labor Market c. Secondary Labor Market
b. Service Industry d. Manual Industry
8. These are defined as organizations that exists as legal entities and have liabilities that are separate
from its members. An organization created by a government charter that allows people to associate
together for a common purpose under a common name.
a. Corporations c. transnational corporations
b. multinational corporations d. global corporations
9. These are companies that extend beyond borders of one country and take advantage of opportunities
in different countries to manufacture, distribute, market and sell their products.
a. Corporations c. transnational corporations
b. multinational corporations d. global corporations
10. It is generally a group of people inhabiting a specific territory and living according to a common legal
and political authority; a body politic or nation.
a. government c. state e. community
b. country d. municipal
11. It is a group of people who have the ultimate authority to act in behalf of a state.
a. government c. state e. community
b. nation d. municipal

ERASURES MEANS WRONG (On your

answer sheets)
12. Refers to a people or collective identity grounded on a notion of shared history and culture.
a. government c. state e. community
b. nation d. municipal
13. The following are the specific factors behind the emergence of global governance, except for:
a. the decline of power of nation-states c. mass migration
b. the flow of digital information d. traditional challenges
14. The following are the challenges to the government or to state autonomy, except for:
a. a. the decline of power of nation-states c. global economics
b. challenges from national/Identity movements d. traditional challenges
15. The effects of globalization to governments that demands the states to conform to the rules of free-
market capitalism.
a. global trading c. global economy
b. global market d. global movements
16. It affects globalization for these are movements of people that are spontaneous or that emerge
through enormous grassroots organizations.
a. global trading c. global economy
b. global market d. global movements
17. An element of the state that regulates relations among its own people and with other states.
a. people c. government e. politics
b. territory d. sovereignty
18. It refers to the network of connections that transcends distances of different countries in the world.
a. globalism c. industrialism
b. globalization d. informationalism
19. A technological paradigm, associated with computer science and modern telecommunication that
replaces industrialism.
a. globalism c. industrialism
b. globalization d. informationalism
20. It is defined as a moral and ethical disposition that can guide the understanding of individuals or
groups of local and global contexts, and remind them of their relative responsibilities within various
communities.
a. culture c. global citizenship
b. citizenship d. politics

B. Matching Types. Identify each of the descriptions on column A and choose the
appropriate terms on the column B. Write only the letter on the answer sheets.

A B

1. One of its element is the expression of currency in terms a. OECD

Of gold or gold value to establish par value

2. It worked to minimize tariffs, quotas, preferential trade b. EU

agreements between countries, and other barriers to
international trade.

3. An international body that administers trade laws and c. UN

provides a forum for settling trade disputes among nations.

4. International economic organization whose purpose is to d. NAFTA

promote international monetary cooperation to facilitate the
expansion of international trade.

5. International organization primarily concerned with coordinating e. OPEC

the crude-oil policies of its member states.

6. A pact that calls for the gradual removal of tariffs and other trade f. IMF
barriers on most goods produced and sold in North America.

ERASURES MEANS WRONG (On your

answer sheets)
7. International organization of countries created to promote g. Bretton Woods
world peace and cooperation.

8. Defense alliance created by the North Atlantic Treaty. h. GATT

9. International organization founded in 1961 to coordinate i. WTO

the economic policies of industrialized nations.

10. Organization of European countries dedicated to increasing j. NATO

economic integration and strengthening cooperation among its
members.

II. ESSAY. Choose only two (2) among the following questions. Answer objectively.
10 points each.

1. What are the effects of the information revolution in today’s global market?
2. What are the effects of multinational corporations in the Philippine economy?
3. What are the barriers to our collective learning in the age of information?
4. How will you understand contemporary world?

Prepared by:

MARIA MAY G. ACONGA

Instructor – II

ERASURES MEANS WRONG (On your

answer sheets)