Unit 3: Globalization

Word List

adj. If something is abnormal, it is different from normal or average.

I felt abnormal this morning, like I was sick.
adj. If someone or something is absent, they are missing or not in the place they are expected to be.

I was absent from school yesterday because I went on a trip with my father.
adj. When something is adjacent, it is next to or adjoining something else.

My apartment is adjacent to a lovely park and playground.
n. Aluminum is a chemical element that is a light silver-coloured metal.

I used the aluminum foil to wrap the food.
adj. If something is applicable to a person or thing, it is relevant to them.

I discovered that my old password was no longer applicable to the website.
adj. If something is artificial, it was not made naturally but mimics something natural.

The artificial Christmas tree was made of plastic.
n. A bicycle is a two-wheeled vehicle powered by pedaling.

I rode my bicycle down the mountain road.
v. To broker is to arrange or negotiate the details of something for others.

The lawyer will broker our agreement.
n. A bureaucracy is a group of people who work together to help manage a large business or run a country.

The members of the bureaucracy were flooded by too many petitions.
v. To configure something means to set it up and arrange it.

The engineer helped to configure my new computer.
v. To consolidate means to join or bring together into one thing.

When we moved in together, we had to consolidate our belongings.
n. If something is done for your convenience, it allows you to do something easily or without any trouble.

I love the convenience of having a swimming pool in my back yard.
v. To deduct means to subtract something.

I had to deduct my expenses from my checkbook.
v. To deem means to consider something.

I deemed the ice cream to be very delicious.
n. An entrepreneur is someone who starts a new business or organization in order to make money.

The entrepreneur made a success out of his new business.
adv. If something is evenly spread or spaced, it is divided equally into amounts, numbers, or values.

Sprinkle the sugar evenly all over the cookies.
adj. When something is fiscal, it is related to money or finances, especially that of a government or business.

Did the company show fiscal growth this year?
n. A franchise is the right to sell another company's products or services in a particular area.

The fast food restaurant has a franchise near my home.
adj. If something is ideological, it is based on a system of beliefs or ideals, especially those that relate to a government or economy.

The citizens of England had ideological differences about its government.
n. A robot is a machine that can do the work of a person and operates automatically or is controlled by a computer.

I bought a robot that can clean the floor on its own.

Exercise

A ‣ Circle the word that fits the definition.

an artificial tool that does human work
- a. entrepreneur
- b. aluminum
- c. franchise
- d. robot
not present
- a. absent
- b. ideological
- c. fiscal
- d. artificial
to judge or consider
- a. deem
- b. consolidate
- c. deduct
- d. configure
to negotiate to make something happen
- a. broker
- b. deduct
- c. deem
- d. evenly
based on a system of political or economic beliefs
- a. artificial
- b. ideological
- c. applicable
- d. abnormal

B ‣ Circle the right definition for the given word.

franchise
- a. a type of business
- b. an expensive good
- c. a high cost
- d. a product made overseas
entrepreneur
- a. a type of company
- b. a type of factory
- c. a business owner
- d. a special kind of product
convenience
- a. something easy
- b. something difficult and hard
- c. something expensive
- d. something cheap
deduct
- a. subtract
- b. strengthen
- c. settle
- d. pay
artificial
- a. large
- b. unnatural
- c. costly
- d. modern

C ‣ Check(✓) the one that best fits the blank.

Since I deemed the feedback useful, _____.
- a. it helped me improve my book
- b. I decided to ignore it entirely
When you open a franchise, _____?
- a. how much money do you make as the manager
- b. why do you need to exercise
The convenience of modern plumbing _____.
- a. allows us to enjoy running water
- b. allows us to solve political issues
Because my home is adjacent to a lake, _____.
- a. I can swim there anytime I want
- b. it is far from the beach
The company suffered fiscal losses and _____.
- a. was able to open several new stores
- b. profits fell as a result

Globalization

Today, it is not at all abnormal for the goods you purchase to come from around the world. Sometimes, a single item is comprised of parts constructed in many different countries. This is applicable to almost anything you can buy today. Consider a sweater-the wool may be woven by a robot in China, dyed using artificial colors from India, and sold in the United States.

Long ago, the fiscal cost of importing or exporting items from foreign countries was high, and manufacturers considered the practice to be fiscally irresponsible. By contrast, prices were low for goods that were made at home or in adjacent countries. Nowadays, however, the convenience of importing and exporting goods is in large part due to globalization. Globalization means more closely-connected countries. Merchants broker deals between entrepreneurs from across the globe to consolidate their costs and configure the lowest prices for their products.

Imagine your company wants to start manufacturing bicycles and selling them. If a factory close to home did everything, it would be expensive a bureaucracy would need to approve every decision, and its members would need to be paid. Some workers would be hired to mine the aluminum and others to find the rubber; then others would build the bikes and market them to local stores. However, dividing the tasks evenly between different countries in order to deduct or minimize certain costs makes a lot more sense. Paying for metal mined in Brazil and shaped in the Philippines can save manufacturing costs. Building the bikes in China, where prices are low, and selling them to Japan, where prices are high, can help a business owner make higher profits. The consensus among many traders is that globalization has helped them become wealthy.

Globalization, however, has its negative side as well, as local workers sometimes lose out to absent laborers in distant lands. For this reason, many commentators deem globalization as something negative; the ideological differences between supporters of globalization may clash with politicians who pass laws that try to limit it. Yet despite critiques, globalization continues to grow stronger. United States' franchises like McDonalds, for example, can be found around the world, and almost all machines have parts that are made in China.

Reading Comprehension

Part A: Mark each statement T for true or F for false. Rewrite the false statements to make them true.

_____ In the past, goods from far away used to be more expensive than goods from close to home.
__________
_____ Globalization means that countries are becoming more connected over time.
__________
_____ One product today usually has parts made in many different countries.
__________
_____ Globalization means more jobs for everyone.
__________
_____ Globalization has many critics around the world even though it can make goods cheaper
__________

Part B: Answer the questions.

What is this reading about?
- a. Critics of globalization
- b. The Pros and Cons of globalization
- c. Reasons to support globalization
- d. Fiscal responsibilities
How can globalization save traders money?
_____
Why do some people oppose globalization?
_____

Answer Key

Name

Comments

Comments