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1. What is Globalization?

 It is a process of interaction and integration among the people,

companies, and governments of different nations, a process driven by
international trade and investment and aided by information
2. Discuss the globalization of market. Give 2 examples.
 Globalization of markets refers to the process of integrating and
merging of the distinct and separate national markets into one huge
global marketplace. This process involves the identification of some
common norm, value, taste, preference and convenience and slowly
enables the cultural shift towards the use of common product or
Example: McDonald and Pepsi
3. Discuss the globalization of production. Give 2 examples.
 Globalization of production refers to the sourcing of goods and services
from locations around the globe to take advantage of national
differences in the cost and quality of factors of production like land,
labor and capital.
4. What are global institutions?
 Are institutions that helps manage, regulate and police the global
marketplace and to promote the establishment of multinational
treaties to govern the global business system.
5. Identify the mandate and roles of the following:
a. WTO – The World Trade Organization deals with global rules of trade
between nations. Its main function is to ensure that trade flows as
smoothly, predictably and freely as possible.
b. IMF – International Monetary Fund promotes international monetary
cooperation and provides policy advice and capacity development
support to help countries build and maintain strong economies. They
also make short and medium term loan, funded mainly by the pool of
quota contributions that its members provide.
c. WB – World Bank promotes long-term economic development and
poverty reduction by providing technical and financial support to help
countries reform certain sectors or implement specific projects.
d. ADB – Asian Development Bank was formed to foster economic growth
and co-operation in the region of Asia and the Pacific and to contribute
to the acceleration of economic development of the developing
countries of the region.
e. UN – United Nation is an international organization formed to maintain
international peace and security, develop friendly relations among
nations, achieve international co-operation in solving international
problems and to be a center of harmonizing the actions of nations in
the attainment of these common ends.
f. ICC – International Criminal Court is a permanent court which
prosecutes individuals on genocide, crimes against humanity and war
g. NATO – North Atlantic Treaty Organisation is an alliance of countries
aimed to safeguard the freedom and security of all its members by
political and military means.
h. ASEAN – Association of Southeast Asian Nations is an
intergovernmental organization aimed primarily at promoting economic
growth and regional stability among its members.
6. What are the drivers of globalization?
 Technological Drivers
 Political Drivers
 Market Drivers
 Cost Drivers
 Competitive Drivers
7. What is the role of technological development in globalization?
 Technology is the vital force in the modern form of business
globalization. Globalization has lead to new markets and information
technology is one of the technologies fostered to the new market in
this increasing competitive world. Technology has helped us in
overcoming the major hurdles of globalization and international trade
such as trade barrier, lack of common ethical standard, transportation
cost and delay in information exchange, thereby changing the market
place. Technology has enabled the software experts to work
collaboratively over the network with companies from around the
world. The technological advancement has helped a lot in creation
and growth of global market. Multinational Corporations (MNC) can be
seen as a central actor in globalization. Markets have become global
at a rapid pace, as indicated by several kinds of trade extended to
foreign countries.
8. What is the effect of globalization in world trade?
 The aim of globalization is to benefit individual economies around the
world by making markets more efficient, increasing competition,
limiting military conflicts, and spreading wealth more equally.
 Globalization has resulted in greater interconnectedness among
markets around the world and increased communication and
awareness of business opportunities in the far corners of the globe.
More investors can access new investment opportunities and study
new markets at a greater distance than before. Potential risks and
profit opportunities are within easier reach thanks to improved
communications technology.
 Products and services previously available within one country are
made available to new markets outside the country due to
globalization. In addition, countries with positive relations between
them are able to increasingly unify their economies through increased
investment and trade.
9. What is the impact of climate change on global economy?
 The overall aggregate effect of climate change on economic growth
will most likely be negative in the long run. Although there will be
winners and losers from climate change at varying levels of warming,
the impact of rising temperatures will be widespread, in part due to
the financial, political and economic integration of the world's
Global warming will primarily influence economic growth through:
- Damage to property and infrastructure
- Lost productivity
- Mass migration
- Security threats.
10. What is the impact of the globalization to a Filipino Family?