Global economy
This module explains what global economy is, describes global production chains patterns and how and who is making the rules
Closing questions
At present there is a global division of labour in the economy between the Northern and Southern hemispheres. How does this look in general?
Correct answer: Developing countries mainly export raw materials, industrialised countries mainly export manufactured products with a high technological input
Which agricultural product requires the most pesticides worldwide with 11%?
Correct answer: Cotton
BP is among the top 10 largest companies in the world. How much oil does the company pump up per day?
Correct answer: 3.2 million barrels of oil equivalent
Sources
BP Annual Report 2013
BP Annual Report 2013
How many liters of oil leaked from the oil platform "Deepwater Horizon" into the Gulf of Mexico in 88 days in 2010?
Correct answer: 800 million liters
Sources
AZ 2012
AZ 2012
How large is Africa's share of world trade?
Correct answer: 2%
Europe and the USA campaign again and again for free trade and market liberalisation through the WTO. Are both regions currently free trade areas for external trade as well as internally?
Correct answer: No, the EU and the USA charge high duties on the import of manufactured goods from countries outside the EU and NAFTA.
Procter & Gamble is...
Correct answer: a transnational corporation
Which institution regulates global economic relationships?
Correct answer: WTO
What is the opposite of free trade?
Correct answer: Protectionism
What are companies which produce components or products for various multinational corporations and usually have their headquarters in developing countries called?
Correct answer: Contract manufacturers
How long do Europeans use their mobile phones on average?
Correct answer: 18 months
What is trade which takes place without middle men and for which the producers are paid a fair wage called?
Correct answer: Fair trade
How many member states did the WTO have in 2013?
Correct answer: 159