During the Early Stages of Globalization, in the 1950s and 1960s

question 110

Multiple Choice

During the early stages of globalization, in the 1950s and 1960s, _______________ were uniquely positioned in the global marketplace because they had the skills necessary to develop, promote, and market brand name consumer products.

• A) large U.S. firms
• B) Japanese electronics companies
• C) low-cost Chinese manufacturers
• D) European service companies
• E) Mideast oil producers

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Definitions:

Federal Reserve System

The central banking system of the United States, regulating the national money supply and aiming to maintain economic stability.

Monopoly Power

The ability of a single seller to influence the price of goods or services in a market.

Commodity Money

Money whose value comes from a commodity out of which it is made, such as gold and silver, which inherently have value.

Goldsmith

A craftsperson skilled in making items of gold.