Dimensions of Globalisation

Question 1

what is globalisation? (short)

Answer 1

the growing interdependence of countries between the exchange of goods and services

Question 2

what is globalisation (long)?

Answer 2

a process by which national conomies, societies and cultures have become increasingly intgrated through the global network of trade communication transportation and immigration.

Question 3

what are the 4 dimensions of globalisation?

Answer 3

flows of information, technology and capital
flows of products and labour
flows of services and gloal marketing
patterns of production, distribution and consmption

Question 4

what are capital flows?

Answer 4

the movement of money for the purpose of trade

Question 5

what is money moved between countries used for?

Answer 5

all money moved between countries is used for investment, trade and production

Question 6

what are BRIC countries?

Answer 6

a group of 4 countries whos economies have gorwn rapidly since the 1990''s
brazil
russia
india
china

Question 7

what are MINT countries?

Answer 7

more recently emerging economies of mexico, indonesia, nigeria and turkey

Question 8

foreign direct investment

Answer 8

investment is made mainly by TNC’S based in one country into the physical capital or assets of foreign enterprises

Question 9

repatriation of TNC’S

Answer 9

TNC’s investing in overseas production will normally take any profit made from that investment back to their home country

Question 10

migration

Answer 10

the majority of out migration of labour takes place from poorer to richer countries

Question 11

remittance payments

Answer 11

transfers made by foreign workers to family in their home country

Question 12

what is labour?

Answer 12

the aggregate of all human physical and mental effort used to create goods or provide services

Question 13

flows of products and labour

Answer 13

• global transport systems have never been cheaper or more efficient in moving both people and goods
• high speed rail networks and international airport hubs
• people move around the world for employment
• tourists travel increasing distances to remote locations

Question 14

what is a transaction cost?

Answer 14

a fee charged by exchange of goods and services

Question 15

what are tarrifs?

Answer 15

a tax or duty placed on the import of goods with the intention of making them more expensive to consumers.

Question 16

flows of services and global marketing

Answer 16

• follow flows of capital information, people and products
• marketing is now globalised
• global products rely on a common global brand

Question 17

what does a footloose service mean?

Answer 17

Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport. These industries often have spatially fixed costs, which means that the costs of the products do not change despite where the product is assembled.

Question 18

conglomerate

Answer 18

a thing consisting of a number of different and distinct parts or items that are grouped together.

Question 19

low level services

Answer 19

Small settlements will only provide low-order services such as a post offices, doctors and newsagents.

Question 20

high level services

Answer 20

Large towns, cities and conurbations will provide low and high-order services such as leisure centres, chain stores and hospitals.

Question 21

ECONOMIC DIMENSIONS OF GLOBALISATION

Answer 21

• usually richer countries have created an interconnected system of networks to create an economic upper hand
• whereas lower income countries struggle to access these networks as they are often weighed down by the rules and regulations of the IMF and WTO.
• these regulations tell them to trade freely and this prevents them form imposing protectionist policies which would make them wealthier.

Question 22

cultural dimensions of globalisation

Answer 22

• elements/products/traditions of a certain culture may appeal to certain other cultures.
• this creates a ‘global village’ as people are able to learn from others as well as join in cultural traditions.

Question 23

social dimensions of globalisation

Answer 23

• better access to education in developing countries because of work schemes which allow children to go to school rather than work to support their families.
• ethnic minorities are much more accepted in society

Question 24

political dimensions of globalisation

Answer 24

• conflict between countries lead to trade wars

- economic trade deals leads to civilised relations between countries e.g. EU (before UK decided to leave in 2016)

Question 25

flow of products`

Answer 25

the international movement of products facilitated especially for developing countries by the reduction in costs of trade

Question 26

transaction costs

Answer 26

payment for buying certain items e.g. WAT in UK, included price of item.

Question 27

transport and time

Answer 27

• transport = containerisation
• the use of container has revolutionised today’s trade industry allowing millions of tons of cargo to be transported globally.
• saves time - before containers and machines people had to physically load and unload docks - this would take weeks

Question 28

Tariffs

Answer 28

taxes imposed on imports

Question 29

flows of capital

Answer 29

this can involve the physical transfer of production resources but usually refers to the flow of money, trade or production

Question 30

foreign direct investment

Answer 30

this is where a businesses invest in foreign enterprises (mainly to avoid taxes)

Question 31

repatriation of profits

Answer 31

this is where people in high managerial jobs in TNC’s send money back to TNC headquarters

Question 32

aid

Answer 32

this is economic/social/political support given when countries are in crisis e.g. Nepal 2015 earthquake, aid was given by UK

Question 33

Remittance payments

Answer 33

this is where migrants/immigrants send money back home

Question 34

globalisation

Answer 34

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

Question 35

flows of service

Answer 35

economic activities that are trades without the production of material goods

Question 36

flows of labour

Answer 36

the human resource available in the economy

Question 37

key patterns of movement within labour

Answer 37

• people from LIC’s usually move to HIC’s for a better quality of life and a good job
• People even move within a country for a better quality of life e.g. Rio De Janeiro
• some migrants are highly skilled workers - ICT and medical workers - wages and conditions are better

Question 38

flow of information

Answer 38

• governed by the movement of people through migration, speed of data and communication transfers
• development of telephone networks, mobile technology, email and live media coverage - all on a global scale.

Question 39

Global marketing

Answer 39

marketing globally on a global scale advertising through social media e.g. facebook, instagram.
if it is available globally, it is easily accessible and available for free.