2.6/2.7 Flashcards
What happened in the 1980’s?
Global interest rates more than doubled
To prevent a collapse of the worlds banking system what did the IMF introduce?
Structural loan repayment packages
What are Africa’s three plights?
Lack of resources
Poor quality farmland
Too little food
What is horizontal growth?
Buying up competition
What is vertical growth?
Controlling and owning every stage of production from r&d through to sales
What is the definition of economics of scale?
When companies expand production to increase efficiency and reduce unit cost
What are three mobility aspects that have enabled TNC’s to grow?
Accelerated and cheaper transport
Accelerated communications systems
Better production technology
In which decade did OPEC raise the price of oil twice?
The 1970’s
