10.1 Globalisation Flashcards
1
Q
What is globalisation?
A
Globalisation is the process of greater integration and inter-connectedness between countries
2
Q
What are the advantages of globalisation?
A
Improved allocation of resources
Free trade
Inward investment
Specialisation
3
Q
What are the disadvantages of globalisation?
A
Inequality Environmental impacts Structural unemployment Movement of labour Damage to traditional cultures
4
Q
What are the consequences of globalisation for less developed countries?
A
- Increased dominance by global brands
- Treatment of workers - exploitation
- Adopt free market policies to attract investment
- Opening up markets to the detriment of local businesses
5
Q
What is an MNC? (Multinational company)
A
Businesses that operate in at least two countries
6
Q
What are MNC’s roles in developing countries?
A
Capital inflows and inward investment Economies of scale Employment Infrastructure Diversification Standards
7
Q
What are criticisms of MNC’s?
A
Environmental impact Exploitation Profit motive Impact on small firms Taxation
