15.3. Language Practice:

1.

..... is the process by which businesses or other organizations develop international influence or start operating on an international scale.

a)

Deregulation;

b)

Globalization;

c)

Liberalization.

2.

Globalization has two main facets, including .....

a)

the globalization of markets and the globalization of workforce;

b)

the globalization of production and the globalization of workforce;

c)

the globalization of markets and the globalization of production.

3.

..... means moving away from an economic system in which national markets are distinct entities, isolated by trade barriers and barriers of distance, time, and culture, and toward a system in which national markets are merging into one huge global marketplace.

a)

The globalization of production;

b)

The globalization of workforce;

c)

The globalization of markets.

4.

..... refers to 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.

a)

The globalization of markets;

b)

The globalization of production;

c)

The globalization of workforce.

5.

The World Trade Organization .....

a)

is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace;

b)

is an international organization respon­sible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by WTO member states;

c)

is an international organization which aims to promote international trade and monetary cooperation and the stabilization of exchange rates.

6.

..... is an international organization established in 1945 which aims to promote international trade and monetary cooperation and the stabilization of exchange rates.

a)

The International Monetary Fund;

b)

The United Nations;

c)

The World Trade Organization.

7.

The United Nations .....

a)

is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace;

b)

is an international organization which aims to promote international trade and monetary cooperation and the stabilization of exchange rates;

c)

is an international organization responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by its member states.