1. When all types of businesses are getting inputs from several global locations it is called____.
A) International production
B) Worldwide sourcing
C) Globalization of markets
D) Foreign Direct Investment
2. The _______ is the merging of historically distinct and separate national markets into one huge global market.
A) Globalization of markets
B) International Monetary Fund
C) International trade
D) International production
3. Globalization of production is the sourcing of ____ and services from locations around the world in order to take advantage of ________ differences in cost and ____ factors of production.
A) foods, global, technological
B) goods, global, technological
C) goods, national, quality
D) products, national, technological
4. Led to the World Trade Organization.
A) General Agreement on Trades and Tariffs (GATT)
B) United Nations
C) Free Trade Union
D) G20
5. International treaty that committed signatures to lowering barriers to the free flow of goods across national borders.
A) Globalization
B) Free Trade Union
C) General Agreement on Trades and Tariffs (GATT)
D) World Trade Organization
