10.1 Macro Flashcards
1
Q
What is Globalisation?
A
The process of greater integration and inter-connectedness between countries
2
Q
What are some characteristics of Globalisation?
A
Growth of international trade Trade liberalisation Enhanced mobility of labour Enhanced mobility of capital Increased cultural exchange Increased international capitalism Increased outsourcing Falling transport costs / the” death of distance” Growth of size and influence of multinational corporations (MNC’s)
3
Q
What are trade agreements?
A
Reduction or removal of trade barriers and there has been a greater proliferation of trade agreements across the world
4
Q
What are the 9 causes for globalisation?
A
Trade agreements Reduced tariffs and protection Expansion of global trading blocs Improved technology More globalised financial systems Greater labour mobility Improvements in transportation Growth of multinational corporations Greater 'openness' of 'closed' corporations
5
Q
What are the positives of globalisation?
A
Improved allocation of resources
Free trade
Inward investment
Specialisation
6
Q
What are the negatives of globalisation?
A
Inequality Environmental impact Structural unemployment Movement of labour Damage to traditional cultures
7
Q
What is an MNC?
A
Operates in at least two or more countries
8
Q
What are the roles of multinational countries?
A
Capital inflows and inward investment Economies of scale Employment and infrastructure Diversification Standards
9
Q
What are some criticisms of MNC’s?
A
Profit motive Impact on small businesses Environmental impact Exploitation Taxation
10
Q
Causes of globalisation?
A
Online and mobile technology improving communication Transport Containerisation Increased free trade Closer political ties
