IB Exam 1
** Expert-Verified Explanation
** Questions with Verified Answer
** New Edition | 2026-2027 Updated
** 100% Guaranteed Pass
** 100% Correct Answers
, Globalization An integrated and interdependent global economic system of markets and
production; not necessarily increased trade; not necessarily everyone consuming
the same thing
Globalist Someone who believes economic and foreign policy should be planned in an
international way, rather than according to what is best for one particular country
Main difference between globalism and globalization globalism: people info and goods should be able to cross borders unrestricted
globalization: spread of technology, products, info, and jobs across nations
Key drivers of globalization (5) Decrease in trade barriers
Increase in technology (microprocessor, internet0
Bulk shipping (air & sea)
Fall of communism/socialism
Opening of China
91% of firms that export are... small businesses with less than 100 employees
Globalization of Markets The merging of historically distinct and separate national markets into one huge
global marketplace.
True or False: National markets are giving way to a False
global market
Globalization impediments (5) Formal and informal trade barriers
Barriers to foreign direct investment
Transportation costs
Economic and political risk
Managerial challenge for coordinating a globally dispersed supply chain
Globalization of production & services 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
Goals of the globalization of production and services (4) Lower overall cost structure
Improve the quality or functionality of the product to gain competitive advantage
Locate where source of materials or talent lives
Outsource to countries that have certain specifications
What country has the best Brand Value by country United states
Which country has the greatest Number of Brands by United States
country
Average tariff rates on manufactured products as % of Decreasing
value trend
What did Mikhail Gorbachev state was the single biggest The Beatles
factor behind the demise of the Soviet Union
What did Thomas Friedman mean by "the world is flat" more people in more places can now compete, connect, and collaborate with
equal power and equal tools than ever before
** Expert-Verified Explanation
** Questions with Verified Answer
** New Edition | 2026-2027 Updated
** 100% Guaranteed Pass
** 100% Correct Answers
, Globalization An integrated and interdependent global economic system of markets and
production; not necessarily increased trade; not necessarily everyone consuming
the same thing
Globalist Someone who believes economic and foreign policy should be planned in an
international way, rather than according to what is best for one particular country
Main difference between globalism and globalization globalism: people info and goods should be able to cross borders unrestricted
globalization: spread of technology, products, info, and jobs across nations
Key drivers of globalization (5) Decrease in trade barriers
Increase in technology (microprocessor, internet0
Bulk shipping (air & sea)
Fall of communism/socialism
Opening of China
91% of firms that export are... small businesses with less than 100 employees
Globalization of Markets The merging of historically distinct and separate national markets into one huge
global marketplace.
True or False: National markets are giving way to a False
global market
Globalization impediments (5) Formal and informal trade barriers
Barriers to foreign direct investment
Transportation costs
Economic and political risk
Managerial challenge for coordinating a globally dispersed supply chain
Globalization of production & services 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
Goals of the globalization of production and services (4) Lower overall cost structure
Improve the quality or functionality of the product to gain competitive advantage
Locate where source of materials or talent lives
Outsource to countries that have certain specifications
What country has the best Brand Value by country United states
Which country has the greatest Number of Brands by United States
country
Average tariff rates on manufactured products as % of Decreasing
value trend
What did Mikhail Gorbachev state was the single biggest The Beatles
factor behind the demise of the Soviet Union
What did Thomas Friedman mean by "the world is flat" more people in more places can now compete, connect, and collaborate with
equal power and equal tools than ever before
