Chapter 9 Flashcards
1
Q
What are 3 areas influenced by globalisation economically?
A
- Countries
- Companies
- Individuals
2
Q
How does globalisation affect countries economically? (HINT: two possible outcomes)
A
Globalisation can lead to:
- economic growth
OR - economic downturn
in countries
3
Q
What economic impacts does globalisation bring to companies?
A
It can result in:
- Higher profits & market share
OR - Lower profits & market share
for companies
4
Q
How does globalisation affect individuals through its economic impacts?
A
It can cause:
- Higher income & greater employment opportunities
OR - Loss of income & employment
for individuals
5
Q
What are 3 responses to economic impacts as a result of globalisation?
A
- Cooperation and competition among countries
- Innovation and adaptation by companies
- Acquisition of knowledge and skills by individuals
