Dimensions of globalisation

Question 1

Define capital flows?

Answer 1

capital flows are the movement of money for the purpose of investment, trade or to produce goods/provide services. Usually regarded as investment as into a production operation.

Question 2

Define globalisation?

Answer 2

A process by which national economies, societies and culture have become increasingly integrated through the global network of trade, communication, transportation and immigration.

Question 3

Define international trade?

Answer 3

The exchange of capital, goods and services across international borders. Inbound trade is defined as imports and outbound trade as exports.

Question 4

Define labour?

Answer 4

Factor of production defined as the aggregate of all human physical and mental effort used to create goods or provide services.

Question 5

What are factors of productions?

Answer 5

roots of globalisation- lie in international markets, theses open up a wider global community. This means that goods and services have to be produced that can be traded.
A number of productive resources have to be combined in order to provide these goods and services.

Question 6

Define land as a factor of production?

Answer 6

All natural resources provided by the earth including minerals, soils, water, forests.

Question 7

Define labour as a factor of production?

Answer 7

The human resource available in any economy. The quantity and quality of the workforce are key considerations to any producer of goods and services.

Question 8

Define capital as a factor of production?

Answer 8

in economic terms- refers to any physical resource that can be regarded as a man- made aid for production, such as buildings, factories, machinery, ect. Capital flows can involve the transfer of these physical resources from one place to another.
Usually refers to the flow of investment finance used to provide this capital.

Question 9

Define enterprise as a factor ?

Answer 9

This is a very particular form of human capital describing those who take the risk of establishing businesses and organising the production of goods or provision of services.

Question 10

what are the flows of capital?

Answer 10

the international capital flows, capital includes all money that moves between countries which is used for investment, trade or production.