Pasig Catholic College

College Department
Midterm Exam in Lit. 2- The Contemporary World

Name: Nacis, Janelle D. Date: 10/16/2020

Course: BSAIS-2nd year Score: _______________

Instructor: Evelyn L. Nantes

General Directions: Read each item carefully. Encircle the letter that corresponds to your
answer.

I.
1. It is the word used to describe the growing interdependence of the world's economies,
cultures, and populations, brought about by cross-border trade in goods and services,
technology, and flows of investment, people, and information.

A. Globalization C. Integration
A
B. Socialization D. Interaction

2. It refers to the amount of political co-operation that exists between different countries.

A. Political Globalization C. Economic Globalization

A
B. Social Globalization D. Psychosocial Globalization

3. It refers to the sharing of ideas and information between and through different countries.

A.A Social Globalization C. Psychosocial Globalization

B. Economic Globalization D. Political Globalization

4. It refers to the interconnectedness of economies through trade and the exchange of

resources.

A.A Economic Globalization C. Social Globalization

B. Psychosocial Globalization D. Political Globalization

5. Globalization motives are idealistic, as well as opportunistic, but the development of a global
free market has benefited large corporations based in the Western world. Its impact remains
mixed for workers, cultures, and small businesses around the globe, in both developed and
emerging nations.

A. True B. False
A
6. Globalization is a _________________.

A. Social C. Cultural and political

B. Legal phenomenon D.A All of the above
7. These are among the foremost examples of nations that have benefited from globalization.
 A. China C. India
B. China and India D. Malaysia
1.
8. These countries are among the fast-growing global players in Asia.

A. Indonesia C. Cambodia
B. Vietnam D. All of the above
2.
9. These countries had the fastest-growing African economies in the world in 2018, according
to a World Bank report.

A. Ethiopia C. Ghana
3.
B. Ethiopia and Ghana D. Algeria

10. Governments worldwide have integrated a _____________ economic system through fiscal
policies and trade agreements over the last 20 years. The core of most trade agreements is
the removal or reduction of tariffs.

A. Free market C. Free trade

4.
B. Free entry D. Free labor

11. It is a process which refers to the expansion of firms by consolidating additional marketing
functions and activities under a single management.

A. Market Integration C. Globalization

5.
B. Socialization D. Market Operation

12. This Type of market integration occurs when a firm or agency gains control of other firms or
agencies performing similar marketing functions at the same level in the marketing
sequence.

A. Horizontal Integration C. Vertical Integration

6.
B. Conglomeration D. Linear Integration

13. This type of integration makes it possible to exercise control over both quality and quantity
of the product from the beginning of the production process until the product is ready for
the consumer. It reduces the number of middle men in the marketing channel.

A.
7.Vertical Integration C. Horizontal Integration
B. Conglomeration D. Linear Integration

14. It is a combination of agencies or activities not directly related to each other.

A.
8. Conglomeration C. Horizontal Integration
B. Linear Integration D. Vertical Integration

15. The following are the effects of horizontal integration, except one.
9. A.T Buying out a competitor in a time bound way to increase competition.
B. Gaining larger share of the market and higher profits.
C. Attaining economies of scale.
 D. Specializing in the trade.

16. This occurs when all the decisions and assets of a firm are completely assumed by another
firm.

10.A.T Ownership Integration C. Contract Integration

B. Financial Leverage D. Diversification

17. This occurs when all the decisions and assets of a firm are completely assumed by another
firm.

A. T Ownership Integration
11. C. Financial Leverage
B. Contract Integration D. Diversification

18. The extent of _______________ in a market may be assessed by counting the number of
functions performed by each firm in the market.
A. T Vertical Integration
12. C. Horizontal Integration
B. Conglomeration D. Diversification

19. The extent of _______________ may be measured by studying the number of firms
performing the same marketing function but operating under one common management.

A. Conglomeration C. Diversification
13.B.T Horizontal Integration D. Vertical Integration

20. These are the effects of Conglomeration, except one.

A. Risk reduction through diversification C. Acquisition of financial leverage
B. Empire-building urge 14.D.T Offers more cost control

II. Give your own insights about the following:

21-25. Globalization on Technology

_Globalization has a great impact on technology. The increasing intensity of global knowledge flows
points to important benefits of globalization. While globalization has been much criticized for its
possible negative side effects, globalization has amplified the spread of technology across borders. it
stimulates the spread of knowledge and technology, helping spread growth potential across
countries. Technological progress is a key driver of improvements in incomes and standards of living.
But new knowledge and technologies do not necessarily develop everywhere and at the same time.
Therefore, the way technology spreads across countries is central to how global growth is generated
and shared across countries. It increases the use of the available foreign knowledge and technology
to boost their innovation capacity and labor productivity growth.

26-30. Globalization in economics

Economic globalization refers to the increasing interdependence of world
economies as a result of the growing scale of cross-border trade of commodities and
services. Globalization is the connection of different parts of the world. In economics, globalization is
the process in which businesses, organizations, and countries begin operating on an international
scale. Globalization in economics affects and is affected by politics and culture. Globalization has
been shown to increase the standard of living in developing countries, but some analysts warn that
globalization can have a negative effect on local or emerging economies and individual workers.
Globalization provides businesses with a competitive advantage by allowing them to source raw
materials where they are inexpensive. Globalization also gives organizations the opportunity to take
advantage of lower labor costs in developing countries, while leveraging the technical expertise and
experience of more developed economies. Not everything about globalization is beneficial. Any
change has winners and losers, and the people living in communities that had been dependent on
jobs outsourced elsewhere often suffer. Effectively, this means that workers in the developed world
must compete with lower-cost markets for jobs; unions and workers may be unable to defend
against the threat of corporations that offer the alternative between lower pay or losing jobs to a
supplier in a less-expensive labor market.
III. Essay

31-40. How do we make globalization more just?

In simple words, globalization means the spreading of a business, culture, or any technology on an
international level. When the boundaries of countries and continents matter no more, and the
whole world becomes one global village in itself. Globalization is an effort to reduce the geographical
and political barriers for the smooth functioning of any business. For instance, it needs the other
countries to come to a mutual agreement in terms of political, cultural, and economic policies. There
is greater sharing of ideas and knowledge and liberalization has gained a huge importance.
Undoubtedly, globalization helps in improving the economic growth rate of the developing
countries. The advanced global policies also inspire businesses to work in a cost-effective way. As a
result, the production quality is enhanced and employment opportunities are also rising in the
domestic countries. However, there are still some negative consequences of globalization that are
yet to be dealt with. It leads to greater economic and socio-cultural disparities between the
developed and the developing countries. Globalization also aims to lessen government involvement
in various development activities, allowing more direct investors/peoples’ participation cutting
across border restrictions thus expected to reap reasonable prosperity to human beings. Despite all
its disadvantages, globalization has transformed the entire globe into a single market irrespective of
its region, religion, language, culture, and diversity differences. It also leads to an increase in demand
for goods, which in turn calls for more production and industrialization. Our focus should be to
minimize the risks and maximize the positive outcome of global policy, which in turn can help for a
sustainable long-standing development for people all around the world.

41-50. How is the state affected by globalization? How is the nation affected by globalization? Do
these institutions/concepts remain relevant? Why/Why not?
There is no doubt that globalization is one of the most challenging developments in the world
history. Globalization refers to the process of the intensification of economic, political, social and
cultural relations across international boundaries. Globalization has been dominating the political as
well as the academic agenda for a couple of decades. There has been much debate among scholars
about whether globalization is undermining state sovereignty. Although globalization is widely
assumed to be crucially important, we generally have scant idea what, more precisely, it entails.
There is a considerable degree of disagreement about what globalization is. Regardless of
disagreements globalization fostered by free flow of information and rapid progress in technology is
such a driving force that no country can turn back from. Globalization has changed the role of the
state in many ways: politically through interdependence and independence of states, socially
through the problems and threats of terrorism and deadly diseases, technologically through the
media and internet and economically through the change from national to global economies. The
state has moved from a controlling to a protecting role internally in facing the problems that
globalization has caused, but also from an authoritative to a dependent figure externally between
the sovereign state age to current unfailing interdependence. Globalization is often seen to have
lowered the importance of the state, but in the end, the states that will remain the most successful
in the face of globalization is those who adapt to the changes their role makes. The role of the
nation-state in a global world is largely a regulatory one as the chief factor in global
interdependence. While the domestic role of the nation-state remains largely unchanged, states that
were previously isolated are now forced to engage with one another to set international commerce
policies. Through various economic imbalances, these interactions may lead to diminished roles for
some states and exalted roles for others. These institutions are not relevant because developing
countries tend to catch up, while rich countries try to neutralize such competitive effort, using
globalism as an ideology, and conventional orthodoxy as a strategy. Middle-income countries that
are catching up in the realm of globalization are the ones that count with a national development
strategy. It is not surprising that more globalized countries are being successful, since they are also
more capitalist countries, they are countries that have already completed their capitalist revolution.
Differently from poor countries, these are middle-income countries that already have business and
technical capabilities combined with cheap labor - what gives them an advantage in international
competition.