HAINNAH JANE KARIM SEDIK 3BSCPE-A

CHAPTER QUIZ:
QUIZ 1. List 5 of Multinational Corporation and its roles to the society
Has huge impact in terms of communicating, take
1. Apple INC photos, listen to music, and use the Internet, and a
lot more.
Its role is to serve everyone with good quality of
2. McDonalds food without waiting for too long.

Its mission as a platform provider is to equip

3. Microsoft Corporation individuals and businesses with the tools to "do
more."
Its role is to help individuals and families to eat and
4. Nestle live a healthier life.
Help everyone find what they want to buy without
5. Amazon giving so much effort.
QUIZ 2 (Self Reflection):
In your own words, what is economic crisis for you?
WHAT IS ECONOMIC CRISIS?
Economic crisis is a problem that almost everyone faces. For me it is the
downfall of the economy that isn’t easy to solve at all. It is somewhat the lack of
financial support from the government that needed to be resolved. With an
economy starting to have crisis, this simply means that the land or country suffers
from a lot of conflicts from various kinds of problem.
Sometimes this really happens when a business is not handled properly and
when the person doesn’t know how to manage it. This also happens when some of
the government officials did not plan properly for the economy and that they take
the money that is supposed to be for the society and to its people.
Economic crisis means that it also the downturn of employees from different
kind of businesses by that way, the employer cannot afford to supply them their
wages. The standard living of a person in a society will also be affected when
economic crisis is present.
QUIZ 3 Modified True or False .
If the statement is TRUE write T and if the statement false write the word.
TRUE 1.Recession after World War II led to the Bretton Woods system in
1944.
TRUE 2. WTO is a forum for international negotiations on trade, with
member countries participating in successive “ rounds ” of discussions.
TRUE 3. Free trade is an excellent method for countries to barter goods and
services.
TRUE 4. Global corporations are governed by the laws of the country where
they are incorporated.
World-system 5.Social system is known as nation -states which one that has
boundaries, structures, member groups, rules of legitimation and coherence.

QUIZ 4: Let’s Reflect – What are the meanings and roles of IMF, WB, GATT and
WTO in promoting economic independence among member states?
1. IMF (International Monetary Fund)
Role: To have macroeconomic stability for both member nations and, more
generally, the global economy.
2. WB (World Bank)
Role: It provides funds to government- sponsored or - guaranteed programs in
so – called Part II countries (member states that are middle- income or
creditworthy poorer nations).

3. GATT (General Agreement on Tariffs and Trade)

Role: To facilitate the liberalization of trade by the reduction of tariff barriers

4. WTO (World Trade Organization)

Role: Its focus on trade places it at the heart of economic globalization. Its
focus is more on non- tariff- related barriers to trade

5. IMF (International Monetary Fund)

Role: To have macroeconomic stability for both member nations and, more
generally, the global economy.
Quiz 5.
Complete these sentences:
1. State refers to a country and its government .which a community of persons
more or less numerous occupying a definite territory completely free of external
control and possessing an organized government to which the great body of
inhabitants render habitual obedience.
2. NATIONALISM –a doctrine and/or a political movement that seeks to make the
nation the basis of a political structure especially a state. It is a sense of national
consciousness that generally exalts one’s own nation above others, and focuses on
the promotion of interests.
3. The goal of the IMF is macroeconomic stability for both member nations and,
more generally, the global economy.
4. Trade- Related Investment Measures (TRIMs) “are a range of operating or
performance measures that host- country governments impose on foreign firms to
keep them from having a distorting effect on trade in goods and services”
5. In terms of global investment, a key role was envisioned for the World Bank,
but massive US aid through the Marshall Plan, and rapid European post - war
recovery, made its work in that period of much less significance than had been
anticipated.
QUIZ 6
A. Identify one international organization and discuss their role and function in the
international economic arena. (AT least 150 Words)
World Health Organization (WHO)
World Health Organization is an International Organization that is
specialized agency of the United Nations responsible for international public
health. Its role is to attain highest possible level of health for everyone. It plays
essential role for governing the health and diseases that may come. They are
responsible for monitoring the health situation and assess health trends. They
represent the world’s health needs and provide needed information from different
high-profession personnel in terms in medications. World Health Organization also
provides different health policies in different aspects. They set norms and different
standards to promote and implement protocols that can help everyone’s risk from
any diseases.
WHO serves discussion on every health issues and offers knowledge for
every health care providers from different part of the world. They share ideas and
perform researches to formulate new medications to fight against any/new
diseases. They also provide technical support for everyone in order to perform the
needed care for every patient.

B. Answer the following essay question, you will write 500-word per question.
1. How do we make globalization more just?
Globalization is the process of interaction and integration among people,
companies, and governments worldwide. It involves goods, services, data,
technology, and the economic resources of capital. Globalization is described as
the growing interdependence of the world's economies, cultures, and populations,
brought about by cross-border trade in goods and services, technology, and flows
of investment, people, and information.
We make globalization more just when we have a well-governed
government. The government is responsible to operate in a country. When they run
well, globalization is will be better. Every country has different style of
governance, if every countries lead well to its people then maybe globalization
wouldn’t that be hard. Globalization can be attained justly when economic,
political, or cultural unity between members is promoted properly by the
Intergovernmental Organizations.
 For some competitive companies, they help in the growing of the
globalization in the world. In order to have better experience in the globalization,
companies should manifest good leadership. They should make a list of issues to
tackle from each division such as managing finance, sales, marketing and a lot
more fields. To have a just globalization, each governments must start to develop
long-term action plan that corporate missions, visions and activities that may lead
to various opportunities Leaders must develop good desires for their people. They
must learn wise strategies.
Another thing is to understand the culture of the people. Understanding the
culture of each government in every country can help improve the reconciliation of
everyone. It can help prevent war between the government and its people. Leaders
should always carry good discipline in themselves.
Being competitive isn’t bad at all but make sure that it is in good way.
Always think about the people that surrounds you. Having this kind of attitude can
lead to a competitive government that improves globalization.
2. How is the state affected by globalization? How is the nation affected by
globalization? Do these institutions/concepts remain relevant? Why/why not?
Globalization is the word used to describe the growing interdependence of
the world's economies, cultures, and populations, brought about by cross-border
trade in goods and services, technology, and flows of investment, people, and
information. The globalization affected the states positively because they are part
of the country that has higher economic value. Rich countries such as states try to
neutralize such competitive effort, using globalism as an ideology, and
conventional orthodoxy as a strategy.
States and nations was affected positively in globalization because they have
higher potential to be a member of globalized country. They already have goods,
services, data, technology, and the economic resource of capital. They also have
advances in terms of their transportation like the steam locomotive, jet engine, and
container ships. States and nations were not being neglected by the globalization
because it can roughly see through their way of lifestyle even in
telecommunication infrastructure such as Internet and higher forms of mobile
phones.
They have also improved their trade and transactions, capitals and
investment movements, migration and movement of people, and the dissemination
of knowledge. Another effect of globalization effect in states and nations is that
they can even handle environmental challenges such as global warming, water
drainage, air pollution and over-fishing.
This concepts remain relevant because until now they still improve their
trading strategies to the other members of the globalization. They manifest good
will on marketing and harmonization in trading. It has a very good influence to
other nation, as it is keep improving their government. Localizing the goods and
products means it can bring people in that nation or state in synchronization
together through unity, peace, and dignity with pride.
When every states and nations will maintain this type of governance then it
may help improve the globalization and makes other countries to do better and
have plans on achieving good globalization same to the states and nations.

CHAPTER QUIZ:
Quiz 1: A. ESSAY
1. What are the roles of IMF, World Bank, GATT and WTO in promoting
economic independence between and among member states?

The role of IMF, World Bank, GATT, and WTO in promoting

economic independence between and among member’s states is to
ensure the stability of the international monetary, trading system, and
also the financial system. These International Organizations work
together to help countries to improve their ability to trade. They provide
security and flexibility in maintaining global trade within countries.
They serve as the source in terms of global investment but with some
conditions. They give the nation and its entrepreneurs the cover they
needed so that they will be actively involved in the global marketplace.

2. What are the problems encounter by nation states upon the existence of
Multinational Corporation?

Some problems that Multinational Corporation encountered by the

nation states are the Materials being used and choosing only skilled
labors. The Materials being used causes environmental externalities such
as polluted rivers, loss of natural landscape. It doesn’t help the
environment but it causes damage instead. Another problem in the
 existence of Multinational Corporation is that they only hire skilled
labors. Persons who doesn’t have much skills is being ignored, thus
means to the slower development of the economy.
B. WORD SEARCH:
Encircle the words
R E A W E Y U S T A T E I
B C T X G A T T F D A N
H L C O O P E R A T I O N
O R G A N I Z A T I O N L
E C O N O M I C N M J H U
I N T E R S T A T E S
T R E A T Y T O G K L V
M I U N F P O R O S I T Y

Quiz 2: Critical analysis

Make your own analysis based on what you have read on the given statement
below. Adopted from the UN Charter:
UNITED NATIONS TREATIES AND PRINCIPLES ON OUTER SPACE Treaty
on Principles Governing the Activities of States in the Exploration and Use of
Outer Space, including the Moon and Other Celestial Bodies.
Article VIII A State Party to the Treaty on whose registry an object launched into
outer space is carried shall retain jurisdiction and control over such object, and
over any personnel thereof, while in outer space or on a celestial body. Ownership
of objects launched into outer space, including objects landed or constructed on a
celestial body, and of their component parts, is not affected by their presence in
outer space or on a celestial body or by their return to the Earth. Such objects or
component parts found beyond the limits of the State Party to the Treaty on whose
registry they are carried shall be returned to that State Party, which shall, upon
request, furnish identifying data prior to their return.
CHAPTER EXAM:
I.
1. What are the five key elements under Brettons Wood system?
a. par value of German Mark
b. par value of British Pound
c. par value of French Franc
d. U.S Dollar
e. Gold

2. The WTO is a multilateral organization headquartered in Geneva, Switzerland,

with, as of 2008, 152 member nations (Krueger 2 000; Trachtman 2007

3. What are the missions of the Bank?

4 missions
a. Encouraging “development of productice facilities and resources in less
developed countries”;
b. Funding for “productive purposes” when private capital cannot be
obtained on reasonable terms;
c. Encouraging international investment in order to promote international
trade and development and equilibrium in balance payments;
d. Helping member countries improve their productivity, standard of living,
and labor conditions (Bradlow 2007:1264).
4. Spell out the Acronyms:
a. OECD-Organisation for Economic Co-operation and Development
b. EU - European Union
c. TRIPs -Trade - Related Aspects of Intellectual Property Rights
d. TRIM- Trade- Related Investment Measures
 e. OPEC- Organization of the Petroleum Exporting Countries
f. MERCUSOR- Mercado Común del Sur

II. Identification
Political Foreign Direct investment core MERCOSUR IMF
Periphery imperium Free trade WTO WB
Social Democracy Neo Liberalism GATT TRIMS TRIP UN

6. TRIMS “are a range of operating or performance measures that host-

country governments impose on foreign firms to keep them from having a
distorting effect on trade in goods and services”.
7. GATT focused on tariff reduction, the WTO has come to focus more
on non- tariff- related barriers to trade. One example is differences between nations
in relation to regulations on such items as manufactured goods or food.
8. WTO also deals with other types of protectionism. Overall, TO
operations are premised on the neo - liberal idea that all nations benefit from free
and open trade, and it is dedicated to reducing, and ultimately eliminating, barriers
to such trade. While there are winners under such a system, there are also losers.
9. IMF goal is macroeconomic stability for both member nations and,
more generally, the global economy.
10. MERCOSUR sometimes called the Southern Common Market, was created
by the Treaty of Asuncion in 1991 with the goal of a common market in South
America by 1995