Dimensions of globalisation Flashcards
capital flows means
the movement of money for the purpose of investment, trade or to produce goods/provide services. usually regarded as investment into a production operation
globalisation means
a process by which nation economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transportation and immigration
international trade means
the exchange of capital, goods and services across international borders. inbound trade is defined as imports and outbound trade as exports
labour means
factor of production defined as the aggregate of all human physical and mental effort used to create goods or provide services
the term globalisation was used to describe the unprecedented integration of world economies in the 1990s under the combined influence of the …………………………………..and…………………….
information technology revolution and the opening up of former Communist Bloc countries to the market economy
globalisation has now expanded to encompass
media, culture and social, political, environmental and even biological factors
the sharing and spread of ideas and information has led to
a growing uniformity
land is factor of production as:
all natural resources provided by the earth including minerals, soils, water, forest, etc
labour is a factor of production as:
the human resource available in any in any economy. the quantity and quality of the workforce are key considerations to any producer of goods and services
capital is a factor of production as:
this term can refer to any physical resource that can be regarded as man-made aid for production, such as buildings, factories or machinery.
capital flows can involve the transfer of
these physical resources from one place to another, however, in reality it usually refers to the flow of investment finance used to provide this capital
enterprise is a factor of production as:
it describes those who establish businesses and organising the production of goods or provision of services
the increased international flows of capital, labour and enterprise have been both a ……….and …………………of globalisation
cause and consequence
economic globalisation is caused by
increase in free trade
growth of transnational corporations
faster, cheaper transport
global marketing
economic globalisation is characterised by
long distance flows of goods, capital and services as well as information and market exchanges
