Chapter 1 Globalisation

Question 1

Globalisation

Answer 1

The process by which the world is becoming increasingly interconnected.

Question 2

Interconnectedness

Answer 2

A connection that links one party to a broader network of connections.

Question 3

Age of discovery

Answer 3

The period in which overseas exploration started to grow in popularity amongst European countries.

Question 4

Industrial Revolution

Answer 4

A radical change in which manual labour was replaced by machines.

Question 5

Time-space convergence

Answer 5

The process of relative distance becoming smaller.

Question 6

Transportation technology

Answer 6

All the tools and machines that are used in the movenment of people and goods.

Question 7

Containerisation

Answer 7

A system of standardised transport, in which containers with a standard size are used to transport goods.

Question 8

Intermodal transportation

Answer 8

Transportation with the use of more than one mode of transport (e.g. truck, ship, train).

Question 9

Information and communication technology (ICT)

Answer 9

All the tools and machines that are used in the exchange of information.

Question 10

Trade barrier

Answer 10

A restriction by a government that limits international trade.

Question 11

Free trade

Answer 11

International traade that can occur without any barriers.

Question 12

Mainport

Answer 12

A transport node that plays a key role in international transport.

Question 13

Hinterland

Answer 13

The land behind a port that the port serves through the import and export of goods.

Question 14

Transnational corporation (TNC)

Answer 14

A company with branches in more than one country (can also be referred to as a multinational).

Question 15

Raw materials

Answer 15

Unprocessed goods that are used as input in the production of other goods.

Question 15

Supply chain

Answer 15

A network of economic activities that covers all the steps to produce finished goods.

Question 16

Intermediate goods

Answer 16

Processed goods that are used as input in the production of other goods.

Question 17

Final goods

Answer 17

Goods that are directly used by consumers.

Question 18

Profit

Answer 18

The total amount of money a company is left with when all its costs are deducted from revenue earned.

Question 19

Revenue

Answer 19

The total amount of money a company earns from selling its products.

Question 20

Costs

Answer 20

The total amount of money it takes a company to make and sell its products (think of the costs of materials, wages, advertising etc.)

Question 21

Offshoring

Answer 21

The relocation of parts of the supply chain from one country to another.

Question 22

International division of labour

Answer 22

The pattern of how the different parts of supply chains are divided amongst different types of countries.

Question 23

Assemblage

Answer 23

The conversation of separate parts (often different intermediate goods) into one product.

Question 24

Sales market

Answer 24

The area where a company sells its products.

Question 25

Sweatshops

Answer 25

A critical term for a workplace where workers are employed at low wages and under bad working conditions.

Question 26

Child labour

Answer 26

Mentally or physically harmful work executed by children.

Question 27

Race to the bottom

Answer 27

The process in which competing companies lower both their wages and other standards in order to remain competitive.

Question 28

International Labour Organisation (ILO)

Answer 28

An international labour union that strives to improve working conditions, especially for people in countries where there is almost no labour regulation.

Question 29

SDG(Sustainable Development Goals)

Answer 29

seventeen goals the UN wants to achieve by 2030, to end poverty, protect the planet and ensure prosperity for all.