Factors of globalisation

Question 1

what are trade blocs?

Answer 1

groups of countries in specific regions that manage and promote trade activities to gain economic benefits

Question 2

what are the 4 types of trade blocs?

Answer 2

free trade area
customs union
common market
economic union

Question 3

Globalisation is influenced by the following factors

Answer 3

new technologies, communications and information systems
global financial systems 
transport systems
security 
trade agreements

Question 4

factors that have combined yo accelerate the pace of globalisation since the 1990’s

Answer 4

trade 
migration
contanerisation
travel
global marketing
capital/investment
transnational corporations
collapse of communism
transport

Question 5

how has new technologies, communication and information systems led to accelerated erosion?

Answer 5

• information can now be shared easily

- mobile phones are one of the most important technologies for LIC’S

Question 6

how has government support led to increased globalisation

Answer 6

• want to increase exports from their country
• govs have trade departments whose function is to ease and facilitate exports
• support and advice is given to encourage businesses

Question 7

how have transport systems led to accelerated globalisation?

Answer 7

the world has never been more accessible and a global transport network allows the movement of people and goods over vast distances

Question 8

the following have contributed to easing international trade

Answer 8

increased aircraft size
growth of low cost airlines
handling and distribution efficiencies
high speed rail networks

Question 9

what are international financial institutions

Answer 9

institutions that provide financial support and professional advice
loans to finance investment projects to help reduce poverty and encourage economic development

Question 10

The world bank

Answer 10

• provides loans grants and technical assistance to countries to reduce poverty
• support a wide range of investment such as education and health

Question 11

International monetary fund

Answer 11

• organisation of 189 countries working together
• created in 1995
• provides loans to member countries that are experiencing financial instability
• provides support to LIC’S

Question 12

international panel on climate change

Answer 12

• international body for assessing the science related to climate change
• set up in 1988
• provides policy makers with regular assessments of the scientific basis of climate change

Question 13

united nations

Answer 13

• founded in 1945
• made up of 193 member states
• take action on the issues confronting humanity in 21st century

Question 14

World trade organisation

Answer 14

only global international organisation dealing with the rules of trades between nations