How can we respond to the economic impacts of globalisation?: Practice Questions

• a.

  Advocating for the total closure of national borders

• b.

  Acquisition of new knowledge and skills

• c.

  Relying solely on traditional, low-skilled industries

• d.

  Decreasing the use of digital technology in the workplace

• a.

  Achieving rapid economic growth while experiencing increased exposure to global financial crises

• b.

  Gaining full economic self-sufficiency while increasing reliance on foreign imports

• c.

  Decreasing national security while increasing the isolation of the country's culture

• d.

  Reducing the number of multinational corporations while increasing foreign direct investment

• a.

  Technology eliminates the need for international trade, so societies should focus on producing everything locally

• b.

  The rise of digital technology prevents any new companies from forming, requiring a return to subsistence farming

• c.

  Digital technology makes all jobs permanent, meaning there is no longer a need for government support

• d.

  Automation may replace routine jobs, requiring the workforce to shift towards high-value-added services and creative roles

• a.

  The ability of a country to produce all its own resources without any imports

• b.

  A decrease in the number of local community groups and social activities

• c.

  The total absence of international trade between neighbouring countries

• d.

  The risk of a country's economy being negatively affected by external shocks in the global market

• a.

  It guarantees that a worker will never have to change their specific job role or company

• b.

  It enables workers to stay relevant and adaptable to changing technologies and job market demands

• c.

  It eliminates the need for governments to provide any social safety nets or support

• d.

  It allows individuals to work independently of any national or global economic changes

Write your answer out first, then check it against the worked solution.

Write your answer out first, then check it against the worked solution.

Write your answer out first, then check it against the worked solution.