Enquiry Question 1

Question 1

What is globalisation?

Answer 1

The process of global integration of economies, politics, products, ideas and other aspects of culture.

Question 2

What is happening to global connections?

Answer 2

They are deepening, lengthening and getting faster.

Question 3

What is a node in a network?

Answer 3

A place or hub where things come from and go to.

Like a stop on the tube.

Question 4

What is a flow in a network?

Answer 4

A connection between nodes that products, goods, data, money or people move along.

Question 5

What is time-space compression?

Answer 5

Heightened connectivity warps our conceptions of time, distance and potential migration of people, goods, money and information.

Question 6

What is the shrinking world effect?

Answer 6

Where places feel/seem closer due to travel times falling.

Aided also by developments in:
Broadband and fibre optics.
The internet.
GIS and GPS.

Question 7

What components of transport and trade accelerated globalisation?

Answer 7

Steam power. 
Railways. 
Telephone and telegraph. 
Container shipping. 
Jet aircraft.

Question 8

How could global flows be viewed as threats?

Answer 8

Data corruption.
Rise in terror threats.
Cyber attacks.
Conflict from cultural differences.
Global businesses have large powers.
Migrants can bring unwanted cultural change.
Imports threaten a nations own industries.

Question 9

Types of trade blocks.

Answer 9

Preferential trade area. 
Free trade area. 
Customs union. 
Common market. 
Economic union. 
Full intergration.

Question 10

NAFTA

Answer 10

North American Free Trade Agreement

Case Study

Question 11

What is a Special Economic Zone (SEZ)?

Answer 11

A special designated area in countries with special economic regulations that differ from other areas in the same country.

Question 12

What is the KOF index?

Answer 12

An index that measures globalisation on economic, social and political dimensions.

Question 13

What is the AT Kearney index?

Answer 13

An index that measures economic integration, personal contact, technological connectivity and political engagement.

Question 14

What things can stifle development and globalisation?

Answer 14

Physical challenges.
Poor governance.
Political isolation.

Question 15

What is a ‘switched on’ place?

Answer 15

A place that is most connected to the world network/economy through consumption and production of goods.

Question 16

What is a ‘switched off’ place?

Answer 16

A place that is poorly connected to the global network/economy.

Only indigenous populations in wilderness locations are completely cut off.

Question 17

Why do places remain ‘switched off’?

Answer 17

Physical:
Highly vulnerable to climate change and natural hazards.
Poor resources for agriculture.
Physical isolation and lack of ports (landlocked).

Human:
Lack of skills and literacy dryers inward investors.
Politically isolated.
Ethnicity clashes and civil war.

Question 18

What are TNCs?

Answer 18

Trans National Corporations

They are important agents of global change.
Along with trade blocs, they can be described as ‘architects’ of globalisation, helping to ‘build bridges’ between nations.

Question 19

What is a tariff?

Answer 19

A tax imposed on imports.

Question 20

What is a quota?

Answer 20

A limit on the quantity of a good a country allows into the country.

Question 21

What is privatisation?

Answer 21

Transferring ownership of a public service/agency/property into private ownership run for profit.

Question 22

What is interdependence?

Answer 22

The success of one place depending on the success of other places.
Countries which rely on each other to trade goods and services.

Question 23

What is trade?

Answer 23

The exchange of goods and services between people and companies, usually across borders.

Question 24

What technology carries internet data across oceans?

Answer 24

Subsea fibre optic cables

Question 25

What is free trade?

Answer 25

Trade that is free of taxes, tariffs and quotas

Question 26

What is FDI?

Answer 26

Foreign Direct Investment

Question 27

What does the World Trade Organisation (WTO) do?

Answer 27

It is an international organisation that works to reduce trade barriers and create free trade. A series of global agreements have gradually reduced trade barriers and increased free trade.

Question 28

What does the International Monetary Fund (IMF) do?

Answer 28

The IMF promotes global economic and financial stability and encourages more open economies.
It has been criticised for promoting a ‘western’ model of development that works in the interest of developed countries and their TNC’s.

Question 29

What does the World Bank do?

Answer 29

They lend money to the developing world to fund economic development and reduce poverty.
It has been criticised for having policies that put economic development before social development.

Question 30

What is free market liberation?

Answer 30

It is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities.

Question 31

What is offshoring?

Answer 31

Where a business moves part of its operations to another country due to lower labour costs or because the economic situation is more favourable for profit making.

Question 32

What is outsourcing?

Answer 32

Were a businesses make contracts with other companies to complete some of the work rather than doing it themselves. Aims to reduce costs because another company can do the work at a lower cost.