Management Information System (MIS) Practice Exam

During Globalization 1.0, which factor was primarily at play?

1. Advancement in digital technology

2. Colonial expansion and resource acquisition

3. Global trade agreements

4. Local manufacturing practices

The correct answer is: Colonial expansion and resource acquisition

During Globalization 1.0, which spanned from the late 15th century to the early 19th century, colonial expansion and resource acquisition were the primary factors driving globalization. This era was characterized by European colonization, where powers such as Spain, Portugal, Britain, and others expanded their territories across the globe. The need for new resources, wealth, and markets motivated these nations to explore and conquer new lands. This resulted in the establishment of trade routes and the exchange of goods, ideas, and cultures on an unprecedented scale. The other factors listed, while relevant to different periods or aspects of globalization, do not encapsulate the essence of Globalization 1.0. For instance, advancements in digital technology came much later, influencing globalization in later stages. Similarly, global trade agreements became significant in the context of Globalization 2.0 and beyond. Local manufacturing practices, although historically important, were largely overshadowed by the broader, more impactful movements of colonialism and resource extraction inherent to that first wave of globalization.