Chapter 8: What does it mean to live in a globalised world? Flashcards
1
Q
Define globalisation
A
Globalisation is defined as the process by which people, their ideas and their activities in different parts of the world become interconnected and integrated.
2
Q
Explain how development in transportation is a key driving force of globalisation
A
- “shrunk” world
- Advancements in transportation to move people and goods of larger volumes around the world
- Done due to the building of well-organised transport systems
- This leads to an increase in mobility of goods and people, leading to reduced time and cost of moving goods over long distances
- This interconnectedness has also simplified the transfer of goods from one mode of transportation to another, thus allowing greater efficiency.
3
Q
Explain how the growth of MNCs is a key driving force of globalisation
A
- MNCs are businesses with economic activities in more than one country
- MNCs source components from around the world before assembling the final product in another country
- As such economies become integrated
- As MNCs operator in different countries, these interconnectedness leads to interdependent relationships
- MNCs function like global nerve systems as they have made the world more interconnected and integrated (definition of globalisation)
4
Q
Explain how the growth of MNCs is a key driving force of globalisation
A
- MNCs are businesses with economic activities in more than one country
- MNCs source components from around the world before assembling the final product in another country
- As such economies become integrated
- As MNCs operator in different countries, these interconnectedness leads to interdependent relationships
- MNCs function like global nerve systems as they have made the world more interconnected and integrated (definition of globalisation)
5
Q
Explain how the advances in technology is a key driving force of globalisation
A
- Faster communication across different countries and timezones (email, WhatsApp)
- Enable companies and individuals to manage their finances across the globe in a more efficient manner
- Enables knowledge and ideas to be shared by people across the globe. Thus the world becomes interconnected.
