Up until the time of WWII, a truly globalized economy was not possible because:
a. there was no interconnection between Western powers and other countries.
b. much of the world was divided into colonial empires with monopolies on imports and exports.
c. even non-Western countries were completely autonomous and kept to themselves.
d. there had never been any international trade.
Question 2
A worldwide-integrated system of buying and selling goods, materials, labor, and services in the global market is called the:
a. global system.
b. global market.
c. global economy.
d. global arrangement.
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