Which of the following is a major effect of globalization on businesses? Isolation of markets Increased competition Decreased communication speed Reduced international trade None What technological advancement has most significantly contributed to globalization in recent decades? Steam engines The internet Horse-drawn carriages Telegraph systems None Which industry has been most affected by globalization due to the outsourcing of labor? Agriculture Real estate Entertainment Manufacturing None Which organization was established to promote international trade and resolve trade disputes between countries? World Bank International Monetary Fund (IMF) United Nations (UN) World Trade Organization (WTO) None What is a major criticism of globalization with respect to its impact on local economies? Increased cultural exchange Job creation in developing countries Loss of jobs in high-cost countries Improved technology transfer None Time's up
