Globalization

Global trade provides consumers with
more options and lower prices
Technologies that allow for instant worldwide communication include
mobile phones and Internet access.
Purchasing power parity is used to compare the gross domestic product between
countries
The graph shows China’s workforce from 2000 to 2010.

Which best describes the effect of globalization on China’s economy?

China is shifting toward specialization in industry and services and away from agriculture.
Which technologies have made global communication instant and more effective? Check all that apply.
cell phones
wireless devices
smart phones
The graph shows households with Internet access from 2003 to 2013.

How has Internet access changed and affected globalization from 2003 to 2013?

A thirty percent increase in Internet access has sped up globalization.
The chart shows a circular flow model describing the movement of goods and services.

How does globalization cause the foreign sector to influence the economy?

The foreign sector influences how imports and exports move between firms and households.
Gross domestic product tracks economic growth by measuring all goods and services
produced by an economy.
The map shows the world’s gross domestic product.

Based on the map, which is the best conclusion that can be drawn about the economies of the US and China?

The US and China are strong because they have a high gross domestic product.