Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Human Geo: Globalisation > EQ1 > Flashcards

EQ1 Flashcards

1
Q

define TNC

A

TransNational Corporation

businesses that work in multiple countries as both makers and sellers of goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

define GDP

A

gross domestic product
a measure of the financial value of goods and services produced within a territory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

define emerging economies

A

countries that have began to experience high rates of economic growth usually due to rapid factory expansion and industrialisation e.g BRIC group

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

who views globalisation as a positive thing

A

Hyper-globalisers
who celebrate the way cultures are mixing and places are becoming more diverse

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what are the 5 global flows

A

capital, tourism, information, migrants and commodities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

how is capital a global flow

A

People move money through he stock markets to create profit

how the stock market works:
A range of businesses, including investment banks and pension funds buy sell money in different currencies to make profit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

how is commodities a global flow

A

Valuable raw materials such as fossil fuels, food, minerals traded between nations
Fuelled by low production costs in countries such as China

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

how is information a global flow

A

The internet has brought real-time communication between nations
Made possible by social media and the internet
Allows for goods + services to be brought instantly

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

how is tourism a global flow

A

Most tourists travel via plane

Budget airlines have brought a pleasure periphery of distant places

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

how are migrants a global flow

A

Remittances - money that migrants send home to their families via formal or informal channels

Interdependence - if two places become over reliant on financial/political connections with one another, they’ve become interdependent

Most governments have a pick and choose attitude to global flows, embracing trade flows but migrants will not always be embraced in the same way

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

define Spatial division of labour

A

the practice of TNCs moving low skilled workers abroad to places where the labour costs are low important skilled management jobs stay at the TNCs headquarters in its country of origin

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

what are intermodal containers

A

large capacity storage units which can be transported long distances

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

define shrinking world

A

distant places start to feel closer and take less time to reach because of technology

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Why is trade and transport important for TNCs?

A

Transport is becoming more efficient, trade will become better as trade can reach new markets at a faster rate. Trade can expand its spatial division in labour to cheaper places of production such as China and still have fast delivery due to efficient transport.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

explain time space compression

A

Increased connectivity changes our perception of time, distance and potential barriers to the migration of people, goods, monet and information

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

what are the 4 types of globalisation

A

economic globalisation
political globalisation
social globalisation
cultural globalisation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

explain economic globalisation in terms of TNCs

A

the growth of TNCs accelerates cross border exchanges of raw material components, finished manufactured goods, shares and purchasing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

explain political globalisation in terms of TNCs

A

The growth of trading bloc (EU, BRIC, NAFTA) allows for TNCs to merge, allowing for reduced trade restrictions and tariffs help market growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

explain social globalisation

A

-International immigration has created extensive family networks that cross national borders

-Global improvements in education and health, rising life expectancy and literacy level however these changes are not universal/uniform

-Social interconnectivity has grown due to the use of technology

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

explain cultural globalisation

A

-The process through which the values, ideas, and experiences of a specific culture are spread across the world.

Western cultural traits come to dominate in some territories (americanisation and mcdonaldization)

-Old cultures merge and meld with globalisation influences

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

what are the different type of technologies used to influence globalisation

A

Telegraph and telephone
broadband and fibre optics
GPS and GIS
Social media

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

define FDI

A

a financial injection made by TNC into a nation’s economy

23
Q

define BRICS group

A

the five fastest growing economies: brazil, russia, india, china and south africa

24
Q

define protectionism

A

the practise of shielding a country’s domestic industries from foreign competition by taking imports

25
Q

what do international organisations such as IMF WTO and TWB aim to promote

A

IMF, WTO, the world bank promote free trade policies and foreign direct investment

26
Q

define sovereign wealth funds

A

government-owned investment funds and banks

typically associated with china and countries that have a lot of oil like qatar

27
Q

define trade blocs

A

Voluntary international organisations that exist for trading purposes, bringing greater economic strength and security to the nations that join.

28
Q

define tariffs

A

the taxes that are paid when importing or exporting goods and services between countries

29
Q

the 3 main government policies

A

Free-market liberalisation
Privatisation
Encouraging business start ups

30
Q

what does free-market liberalisation do

A

It involves removing price controls, breaking up monopolies and encouraging competition, which increases efficiency further and promotes globalisation

31
Q

positives of privatisation of firms

A

It may increase efficiency as the profit motive minimises loss (government reluctant to sack workers, leading to higher labour costs)

Permitting foreign ownership allows an injection of foreign capital through FDI, introduces new technologies and promotes globalisation

32
Q

what is privatisation

A

in the 1980s many governments have sold industries once owned by them (nationalised industries) to private businesses

33
Q

how do governments encourage business start ups

A

There could be low business taxes, well-enforced contract laws, minimum regulation and efficient bankruptcy procedures, which encourage new firm creation

34
Q

positive of encouraging business start ups

A

Creating motivation and competition in the economy

35
Q

How can governments joining a trading bloc also encourage globalisation

A

They promote free trade between members, increasing economic globalisation.

36
Q

advantages of governments joining trade blocs

A

markets grow as there are no longer barriers increasing demand and supply of products increasing consumption and employment

Companies that have a comparative advantages in products or services should also do really well e.g french wine makers as france is known for its vineyards increasing the products desirability compared to UKs vineyards wine

37
Q

what are the 4 sectors of the AT Kearney

A

political engagement
technological connectivity
personal contact
economic integration

38
Q

what is a special economic zone

A

SEZ
An industrial area, where conditions are made to help attract FDI.

usually through government subsidies like low tax rates and no tariffs on imports and exports

39
Q

what are government subsidies

A

a benefit given by the government to groups and individuals usually in the form of a cash payment or a tax reduction

40
Q

what are the 4 types of FDI

A

offshoring
foreign merges
foreign acquisition
transfer pricing

41
Q
A
42
Q

what is foreign merges

A

2 firms in different countries join forces to create a single entity

43
Q

what is foreign acquisition

A

when a TNC launches a takeover of a company in another country

44
Q

what is transfer pricing

A

some TNCs, sometimes has channelled profits through a subsidiary company in a low tax country

45
Q

example of offshoring and how it occured

hint: asian country

A

indonesia
Opens market to America and Europes TNCs – GAP, Levis
World bank lent money by funding speedy modernisation of roads, power supplies and ports

46
Q

negative of offshoring in Indonesia

A

However its become a tax haven for sweatshops manufacturers

47
Q

example of foreign mergers

hint: asian country

A

india
Globalisation began in 1991 for india
Indias. TNCs have grown in their size and influence

48
Q

how has foreign merging occured in India

A

foreign retailers could only gain a presence of India’s own

led to mcdonald’s restaurants in North India + East India are a joint venture with vikram Bakshi and mcdonalds corporation

This has deterred companies such as Ikea but because of the agreement 90% of India’s shops are still family owned

49
Q

define offshoring

A

TNCs move parts of their own production process (factories or offices) to other countries to reduce labour or other costs

50
Q

whats a global production network

A

a chain of connected suppliers of parts and materials that contribute to the manufacturing or assembly of the consumer goods.

e.g The network serves the needs of a TNC such as apple or tesco

51
Q

define outsourcing

A

TNCs contract another company to produce the goods and services they need rather than do it themselves. This can result in the growth of complex supply chains

52
Q

how have some areas of the world benefitted more from FDI from TNCs than others

A

-Not all places have enough market potential to attract large retailers – low income/culture
-Not every country has the same amount of raw materials as others
-Not every country has the factors of production (land, labour, capital and enterprise) to produce the TNCs goods and services

53
Q

define glocalisation

A

changing the design of products to meet local tastes or laws. It is an increasingly common strategy used by TNCs in an attempt to conquer new markets

54
Q

do all companies need to glocalise

A

Yes, as if a company wants to make sales and profit there has to be demand for the goods and services which if a product such as mcdonalds cannot be consumed due to cultural beliefs will perform basket unless glocalisation takes place to cater towards their needs however, a company like lego wouldn’t need to glocalise as their products cater to everyone with genuine global appeal

Human Geo: Globalisation (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions