4.1.4 Globalisation Flashcards

1
Q

What is meant by globalisation?

A

process which economies have become more interconnected through global trade, capital flows and spread of technology

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2
Q

What are the characteristics of globalisation?

A
  • competitiveness
  • exchange rates
  • development
  • tarriffs
  • trading blocs
  • global problems
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3
Q

Give six factors which have contributed to globalisation in the last 50 years.

A
  • technology
  • industrial organisation
  • political
  • production issues
  • economy
  • resources and market
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4
Q

What are the impacts of globalisation on individual countries?

A
  • creates relations
  • strengthens economy
  • access to goods and services
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5
Q

What are the impacts of globalisation on governments?

A
  • removes pressure for welfare benefits as globalisation provides jobs
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6
Q

What are the impacts of globalisation on producers?

A
  • more access to resources
  • lower costs as they can move production to cheaper places
  • technology means they can have access to more advanced machinery
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7
Q

What are the impacts of globalisation on consumers?

A
  • more choice
  • better quality
  • cheaper goods
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8
Q

What are the impacts of globalisation on workers?

A
  • more job opportunities
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9
Q

What are the impacts of globalisation on the environment?

A
  • uses a lot of resources
  • pollution from production
  • promotes competition to natural resources are depleting
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