When the economy of large wealthy nations do poorly this can cause what to happen all over the world? question 6 options: a) military expansion b) wars break out c) poor countries become wealthy d) a global financial crisis save question 7 (1 point) question 7 unsaved what important product can impact the entire world’s economy? question 7 options: a) paper b) cell phones c) oil d) paint save question 8 (1 point) question 8 unsaved what is a key part of global trade today that allows for growth and diversity? question 8 options: a) tariffs and taxes b) free trade c) wars and conflict d) none of the above save question 9 (1 point) question 9 unsaved both the world bank and united nations promote global trade question 9 options: a) true b) false save question 10 (1 point) question 10 unsaved the anti-globalization movement says that people are being hurt and impoverished by who? question 10 options: a) russia and china b) communism c) wealthy countries and multinational corporations d) none of the above

Answer 6: The correct answer is option d)  A global financial crisis

Explanation: When the richer countries are foregoing a financial crisis, this can lead to a global financial crisis. There are several reasons behind it. One of them is, poor countries are mostly dependent on financial aid from richer countries. If the rich country goes poor, they will pull back their financial aid which will effect the poor countries directly.

For example, a country like Pakistan accepts aid from USA. If USA pulls back their aid, Pakistan will also suffer.

Answer 7: The correct answer is option b)  Cell Phones

Explanation: The growth of an economy occurs through one of three factors; technological advancement, accumulation of capital and increase in labor input.

In the above question, cell phones fall in the category of technological advancement. Cellphones increased the contact between different countries. It has shifted the paradigm of how trade and world economies communicate with each other. It has definitely made the exchange of goods faster and quicker. Trade is a huge factor due to which economies grow or decline.

Answer 8: The correct answer is b)  Free Trade

Explanation: Free trade means that the formal regulations of trade practices between two countries is free of tariffs, custom charges, taxes and etc. This allows countries to trade freely in a balanced manner.

Increase in trade means that countries can export at rate that suite them and import accordingly. It is an easy way to grow the economy.

For example countries like china, manufacture a large variety of products to flourish their economy.

Answer 9: The correct answer is b) False

Explanation: The role of the United Nations is to basically maintain the global peace and security. It makes sure that the international relations are kept friendly and work on social, economic, humanitarian and cultural problems.

Whereas, the World Bank takes part in formulating the regulations for the trade. It is a financial institution whose responsibility includes building its consumers and assisting the development of its member nation's territories, promoting and helping with private and foreign investments.

Answer 10: The correct answer is option c)  Wealthy Countries and Multinational Corporations

Explanation: Globalization might mean the extension of social and economic relationships but it has also effected in a negative way as well in terms of neo-liberal concept of free trade.

Anti globalization people blame the multinational corporations and wealthy countries because they are the most who are benefiting from it through agents like free trade and unregulated market. It means they can set the market as per their own standards which can substantially effect the poorer corporations negatively.

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