4.1 Globalisation Flashcards
1
Q
what are indicators of growth
A
- Change in GDP
- Health (life expectancy)
- Literacy rates
2
Q
What is HDI
A
combining a countries
- Mean years of schooling
- Life expectancy
- Gross National Income
3
Q
What is a Comparative advantage
A
country ability to specialise in production of certain good, then trade with other nation
4
Q
pros of FDI on Low Economically developing countries (LEDC)
A
- Job Creation
- Tech Transfer
- Infrastructure Development
5
Q
Cons of FDI on LEDCs (low economically developing countries)
A
- exploitation of labour
- environmental concerns
6
Q
Reasons a business may choose FDI (foreign Direct investment)
A
- access to local resources
- access to knowledge + skills
- fast expansion
7
Q
Pros of Globalisation
A
- Access to wide range of Goods/services
- Lower Prices
- Increase communication/transport
8
Q
Cons of Globalisation
A
- Job losses in some sectors
- Environmental Damage
9
Q
pros of Free Trade
A
- Lower prices
- Access to foreign goods
- Reduced production costs
- new consumers
10
Q
Pros of Trading Blocs
A
Opportunities to expand into new markets
cheaper + better quality goods
easier to source labour
11
Q
Cons of trading Blocs
A
- External Countries may have better comparative advantage
- Tensions between external countries
