3.8 WHAT IS GLOBALISATION? Flashcards
1
Q
What is globalisation?
A
- A term used to describe how trade and technology have made the world into a more connected and independent place
2
Q
Elements of globalisation:
A
- Economy
- Political
- Social
- Cultural
3
Q
What is economy?
A
Transnational companies (global companies) manufacture and transport goods globally
4
Q
What is political?
A
Organisations such as UN, making big decisions
5
Q
What is social?
A
Growth of online social networks
6
Q
What is cultural?
A
Music and films release throughout the world through global tourism
7
Q
What are the changing location factors to industry?
A
- The more the population, lower the labour costs
- For instance, lower labour cost in China as it has the world’s largest population
- More labourers = lower labour costs
